Today's Pre-Market Movers and Top Ratings | TPL, GAP, ROST, NVDA and More

$Texas Pacific Land (TPL.US)$ Stock increased by 6.9% as the energy company is set to join the S&P 500 index next week. This comes as Marathon Oil, a current constituent of the index, is being acquired by ConocoPhillips.

$Gap Inc (GAP.US)$ Shares surged over 20% as the clothing retailer raised its full-year outlook for the third time in 2024, now anticipating sales growth of 1.5% to 2%.

$Ross Stores (ROST.US)$ The department store chain's stock increased by 7.4% after third-quarter earnings of $1.48 per share exceeded the forecast of $1.40 per share. However, revenue of $5.07 billion fell short of the expected $5.15 billion.

$NetApp (NTAP.US)$ Shares of the data technology firm climbed 8.5% after second-quarter earnings of $1.87 per share and revenue of $1.66 billion surpassed expectations of $1.78 per share and $1.65 billion in revenue.

$Elastic (ESTC.US)$ Stock jumped 24.3% post-earnings release, with adjusted earnings of 59 cents per share on $365 million of revenue, outperforming the anticipated 38 cents per share and $357 million.

$MicroStrategy (MSTR.US)$ Shares rose by 1.2% influenced by the surge in cryptocurrencies, with Bitcoin approaching the $100,000 mark.

$Intuit (INTU.US)$ The financial software firm's stock declined about 2.9% after providing second-quarter earnings guidance of $2.55 to $2.61 per share, falling short of the expected $3.25 per share.

$Palo Alto Networks (PANW.US)$ Shares declined by 0.9% following a downgrade by HSBC from 'hold' to 'reduce', due to concerns over the company's valuation.

$Reddit (RDDT.US)$ Stock dropped 7.8% after reports from Bloomberg that a shareholder is attempting to establish a credit facility using their equity stake in the company.

$NVIDIA (NVDA.US)$ Shares fell 0.4% after Phillip Securities downgraded the semiconductor manufacturer from 'buy' to 'accumulate', citing the recent price action.