Check out the companies making headlines before the bell. Snowflake – The cloud data company sank after posting disappointing Q1 product revenue guidance and announcing the retirement of CEO Frank Slootman. Snowflake said it expects product revenue to range between $745 million and $750 million in the current period, less than the $759 million expected by analysts surveyed by StreetAccount. Morgan Stanley also downgraded cloud stocks to equal weight. C3.ai – AI software stock rose more than 15% on strong earnings. C3.ai reported a lower-than-expected adjusted loss per share of 13 cents. Revenues also exceeded expectations. Salesforce – Salesforce stock fell less than 1%. The software giant beat Wall Street expectations for the fiscal fourth quarter but provided a lower-than-expected revenue forecast for the new fiscal year. The company said it expects revenue to grow in the single digits. Okta – Shares of the identity management company rose more than 25% on the back of a stronger-than-expected quarter and outlook for the current period. Okta said it expects revenue to be between $603 million and $605 million, beating the FactSet estimate of $583.8 million. Bank of America twice upgraded shares to buy. Duolingo – Shares rose 20% after the edtech company reported fourth-quarter earnings and revenue that beat analysts' expectations. Duolingo reported earnings of 26 cents per share on revenue of $151 million, higher than the 17 cents per share on revenue of $148 million expected by analysts surveyed by LSEG. The company also announced strong first-quarter and full-year revenue forecasts. BIRKENSTOCK — Shares rose more than 3% pre-market after the footwear retailer reported revenue of €303 million in its fiscal first quarter, above the €288.7 million that analysts had expected, according to LSEG. Earnings for the same period were below expectations at 4 euro cents per share compared to 9 euro cents per share. AMC Entertainment – AMC Entertainment shares fell more than 10%. Movie theater shares beat Wall Street revenue estimates but posted a larger-than-expected loss of 83 cents per share. Paramount Global – Shares rose 2% a day after the media company reported surprise fourth-quarter earnings. Paramount's earnings per share were 4 cents, versus a loss of 1 cent expected from analysts polled by LSEG. Warner Bros. Discovery is no longer seeking a merger with Paramount, sources told CNBC on Tuesday. Fig – Shares of the apparel company fell 16% after fourth-quarter sales came in lower than expected and the departure of its chief financial officer was announced in April. Figs reported revenue of $145 million for the fourth quarter. Analysts surveyed by LSEG had expected $150 million. The company said revenue was hurt in part by an accounting change related to customers in Canada. Celsius – The energy drink maker fell 4.4% despite a stronger-than-expected earnings report. Celsius reported 17 cents in earnings per share on revenue of $347.4 million for the fourth quarter. Both numbers beat consensus estimates of analysts surveyed by LSEG, which put earnings per share at 15 cents and revenue at $331.5 million. Best Buy – Shares jumped 2.6% after the consumer electronics retailer reported quarterly results that beat analysts' expectations. In the fourth quarter, Best Buy reported adjusted earnings of $2.72 EPS per share, more than the $2.52 estimated by analysts surveyed by FactSet. Revenue of $14.65 billion beat FactSet estimates of $14.56 billion. Nutanix – The cloud computing stock rose 4% after beating Wall Street's quarterly estimates. Nutanix reported earnings of 46 cents per share on revenue totaling $565 million. Pure Storage – Pure Storage rose more than 9% on stronger-than-expected fourth-quarter earnings and upbeat first-quarter guidance. The data storage company reported earnings of 50 cents per share on revenue of $790 million. HP – Shares fell 2.2% after the technology company missed first-quarter revenue estimates, with slowing demand for personal computers, or personal computers, weighing on HP's market as customers delay system upgrades and cut back on spending. – CNBC's Alex Haring, Tanaya Machel, Michelle Fox, Lisa Hahn, Jessie Pound, Sarah Min and Pia Singh contributed reporting.
