5 things you need to know before the stock market opens

Shares of Salesforce ( CRM ) are falling in premarket trading after the cloud-based software company issued a weak outlook and missed quarterly revenue forecasts for the first time in 18 years; Costco Wholesale ( COST ), Dell Technologies ( DELL ) and Marvell Technology ( MRVL ) are reporting quarterly earnings after the bell today; and shares of UiPath ( PATH ) are falling after the artificial intelligence (AI) software provider announced an unexpected CEO change and offered sales guidance for the current quarter that was significantly below Wall Street estimates. US stock futures are extending declines as Treasury yields remain elevated amid concerns that the Federal Reserve will keep interest rates higher for longer as inflation continues. One data point that could calm fears that the economy is overheated is today’s first revision of first-quarter GDP, which is expected to show a slowdown from the initial figure. Here’s what investors need to know today.

1.Salesforce drops software giant’s biggest quarterly posts in 18 years

Shares of Salesforce ( CRM ) are falling more than 15% in premarket trading after the cloud-based software company reported its first quarterly revenue loss in 18 years and issued a soft annual sales outlook among enterprise customers holding back their IT budgets and longer average deal cycles. Salesforce provided weaker-than-expected guidance for the second quarter, but maintained its outlook for the full fiscal year 2025. Salesforce Chief Executive Officer (CEO) Marc Benioff added that the company may be poised to benefit from the “transformation of AI ” as its enterprise customers build AI-powered tools.

2.Costco is expected to report third-quarter earnings results under the new CFO

Costco Wholesale ( COST ) is expected to report strong fiscal third-quarter earnings after the closing bell in the warehouse retailer’s first report in decades with a new chief financial officer. Longtime CFO Richard Galanti resigned from the post in March and was replaced by former Kroger ( KR ) CFO Gary Millerchip. The results are expected to show the company continues to win over consumers at a time when retailers like Target ( TGT ) are struggling from a pullback in discretionary spending. Analysts expect Costco to report increased revenue and net income from the year-ago period, along with an increase in memberships. Uber recently announced that Uber Eats users can order Costco products through the app, whether they are Costco members or not. Shares are little changed in premarket trading.

3. Dell wins ahead of Q1 results, with PC Maker’s AI business in focus

Shares of Dell Technologies ( DELL ) are rising about 2% in premarket trading ahead of earnings for the first quarter of fiscal 2025, with investors likely to watch for updates on how artificial intelligence (AI) is benefiting its business of servers. Analysts expect the popular PC maker to post higher revenue for the year but a decline in net income. The company has been building partnerships with AI, however, and recently announced that it would expand its AI factory through its partnership with Nvidia (NVDA), giving its stock a boost. Dell also unveiled new AI-powered PCs as part of Microsoft’s (MSFT) new category of Windows PCs built for AI.

4.UiPath falls after CEO resignation, Outlook lags ratings

Shares of UiPath ( PATH ) are falling by nearly a third in premarket trading after the AI ​​software provider announced an unexpected CEO change and offered sales guidance for the current quarter that was significantly below Wall Street estimates. The company, which develops software that automates repetitive tasks and processes, said CEO Rob Enslin will step down on June 1 and be replaced by co-founder Daniel Dines, who stepped down as co-CEO in January. 31. Shares of the company, a partner of Alphabet’s ( GOOGL ) Google, have fallen about 20% since Enslin took over. For the full year, UiPath revised down its guidance, saying it now expects net sales in the period of $1.405 billion to $1.410 billion, down from its previous forecast of $1.555 billion to $1.560 billion.

5. Marvell Technology Falls Ahead of Q1 Results After Bell

Shares of Marvell Technology ( MRVL ) are falling ahead of first-quarter results, with analysts expecting lower revenue and a wider loss from a year ago. In the eyes of investors will be any signs of growth in the chipmaker’s data center segment and any AI-related updates. Analysts forecast Marvell’s revenue to be $1.15 billion and its net loss to come in at $196.6 million, higher than the $168.9 million loss recorded in the year-ago period.