Shares of online security provider Okta (OKTA) fell more than 6% in pre-market trading after revealing that hackers had stolen information about customer support system users during a breach two months ago. The company informed its clients that the stolen data includes names and email addresses of customers who used the service, noting that there is no evidence of the information being used or exploited.
Apple Proposes Ending Credit and Savings Partnership with Goldman Sachs
Apple (AAPL) has proposed ending its credit card and savings account partnership with Goldman Sachs (GS) over the next 12 to 15 months, following the Apple Card savings account attracting $10 billion in deposits after its launch in April. Goldman Sachs stated it will consider strategic alternatives for its consumer banking business, while it is unclear how Apple will replace its banking partner for the financial products it uses to enhance features on its smartphones. Goldman Sachs shares rose by 0.3% in pre-market trading while Apple shares traded slightly lower.
Workday Shares Rise on Subscription Revenue Growth
Shares of Workday (WDAY) rose 8.5% in pre-market trading after it reported adjusted earnings for the third quarter of $1.53 per share, higher than analyst estimates of $1.41 per share, while its revenue reached $1.87 billion, better than the $1.85 billion analysts had expected. Workday’s subscription revenue grew 18% year-over-year in the quarter, prompting it to raise its fiscal year revenue forecast to $6.598 billion, above its previous forecast ranging from $6.57 billion to $6.59 billion.
CrowdStrike Reports Earnings Boosted by Annual Recurring Revenue Increase
CrowdStrike (CRWD) reported adjusted earnings for the last quarter of $0.82 per share on revenue of $786 million, better than analyst estimates of $0.74 per share and $777 million in revenue. The cybersecurity company reported a 35% year-over-year increase in annual recurring revenue to $3.15 billion, stating that it continues to invest in innovation as it aims for a target of reaching $10 billion in annual recurring revenue in the next five to seven years. CrowdStrike shares rose by 2.5% in pre-market trading.
US GDP Expected to be Revised Upwards for Q3
The growth of US GDP for the third quarter is expected to be revised to 5% at 8:30 AM ET, compared to an initial estimate of 4.9%. At 2 PM ET, the Federal Reserve will release the Beige Book, a periodic review of economic conditions across all 12 Federal Reserve districts. Richmond Fed President Tom Barkin will conduct a televised interview at 10 AM ET, while Cleveland Fed President Loretta Mester will speak at 1:45 PM ET.
Source: https://www.investopedia.com/5-things-to-know-before-markets-open-november-29-2023-8407783
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