Intuit Inc. (INTU) kicked off Friday's premarket session with a bang, jumping sharply after delivering first-quarter results that handily exceeded Wall Street's expectations. When the company behind QuickBooks, TurboTax, and Credit Karma beats on both the top and bottom lines, investors tend to notice.
The financial software giant reported first-quarter revenue of approximately $3.89 billion, comfortably ahead of the $3.76 billion analysts were expecting. Even more impressive, Intuit posted adjusted earnings of $3.34 per share, sailing past the $3.09 consensus estimate. Those are the kind of numbers that get traders excited before their morning coffee.
The forward guidance told a slightly more nuanced story. Intuit expects second-quarter revenue growth of approximately 14% to 15%, which sounds pretty healthy. But the company's projected adjusted earnings range of $3.63 to $3.68 per share came in below analyst estimates of $3.83 per share. Still, the market seemed more focused on the strong quarter already in the books, sending Intuit shares up 3.2% to $658.00 in premarket trading.
But Intuit wasn't the only stock making waves before the opening bell. Here's a look at the other notable movers in Friday's premarket session.
The Morning's Big Winners
Nuvve Holding Corp (NVVE) absolutely exploded higher, surging 49.4% to $0.25 in premarket trading. The catalyst? The company announced it entered into a Memorandum of Understanding with The City of Socorro and Socorro Electric Cooperative to collaborate on accelerating transportation electrification, modernizing local electric infrastructure and strengthening community resilience. That's a lot of buzzwords packed into one announcement, but investors clearly liked what they heard.
Mobile-Health Network Solutions (MNDR) continued its upward momentum, surging another 45.4% to $4.42 in premarket trading. This came on the heels of an 84% jump on Thursday, giving the stock a two-day run that early shareholders are probably feeling pretty good about.
Splash Beverage Group Inc (SBEV) rose 33.7% to $1.00 in premarket trading. The move came after the Fort Lauderdale-based beverage company filed its Form 10-Q with the U.S. Securities and Exchange Commission for the quarter ended September 30. Oddly enough, the company posted no net revenue in the third quarter, compared with $981,858 in the same quarter last year. Sometimes markets move in mysterious ways.
Enviri Corp (NVRI) gained 31.5% to $17.84 in premarket trading following a major corporate restructuring announcement. The company said it's selling Clean Earth to Veolia for $3.04 billion and executing a taxable spin-off of its Harsco Environmental and Rail Businesses to shareholders. That's the kind of strategic move that can unlock significant value.
Scage Future - ADR (SCAG) surged 21.3% to $1.64 in premarket trading, bouncing back after dipping 20% on Thursday. Volatility, thy name is penny stock.
Trinseo PLC (TSE) gained 20.5% to $0.92 in premarket trading, though no specific catalyst was immediately apparent for the move.
New Fortress Energy Inc (NFE) gained 19.8% to $1.75 in premarket trading, extending Thursday's gains of more than 25%. The momentum continues to build for this energy play.
Inhibikase Therapeutics Inc (IKT) rose 8.5% to $1.66 in premarket trading after announcing the pricing of a $100 million public offering of common stock and pre-funded warrants. Capital raises don't always send stocks higher, but this one apparently struck the right chord with investors.
Gap Inc (GAP) rose 4.6% to $24.11 in premarket trading after the apparel retailer reported upbeat third-quarter financial results and raised its fiscal 2025 sales guidance above estimates. Sometimes the basics still work: beat earnings, raise guidance, watch your stock go up.
The Morning's Losers
Pasithea Therapeutics Corp (KTTA) tumbled 25.3% to $0.31 in premarket trading. The company announced interim Phase 1 data from its ongoing first-in-human trial evaluating PAS-004 in patients with MAPK pathway-driven advanced solid tumors with a documented RAS, NF1 or RAF mutation, or in patients who have failed prior BRAF/MEK inhibition. The market's reaction suggests the data didn't meet expectations.
Safe & Green Holdings Corp (SGBX) declined 16.2% to $3.20 in premarket trading, adding to Thursday's brutal 37% decline. When it rains, it pours.
VisionSys AI Inc (VSA) fell 15.8% to $0.23 in premarket trading, giving back a chunk of Thursday's 59% surge. The company recently announced the pricing of a $12 million registered direct offering, but the post-rally hangover appears to be setting in.
Psyence Biomedical Ltd (PBM) fell 14% to $1.48 in premarket trading, continuing Thursday's 38% decline. Another tough two-day stretch for shareholders.
InMed Pharmaceuticals Inc (INM) dipped 12.8% to $1.09 in premarket trading, with no immediate catalyst identified for the decline.
Elastic NV (ESTC) shares dipped 12.3% to $72.02 in premarket trading after reporting second-quarter results. Sometimes even reporting earnings is enough to trigger a selloff if the numbers don't perfectly align with what investors wanted to see.
Luda Technology Group Ltd (LUD) dipped 11.1% to $8.55 in premarket trading, pulling back after gaining 39% on Thursday. Profit-taking after a big run seems like the likely culprit here.
Sigma Lithium Corp (SGML) fell 8.4% to $8.61 in premarket trading after declining 9% on Thursday. The lithium sector continues to face headwinds.
Veeva Systems Inc (VEEV) fell 6.7% to $252.40 in premarket trading, despite posting upbeat results for the third quarter after Thursday's closing bell. The company even raised its fiscal year earnings and revenue estimates to ranges above analyst estimates. Sometimes the market just wants more.
HIVE Digital Technologies Ltd (HIVE) fell 5.8% to $2.75 in premarket trading after the company filed for a mixed shelf offering. Investors typically don't love the potential dilution that comes with these filings.
