Thursday, February 13, 2025
HomeTrading RoomThe Largest Premarket Movements are in Stocks

The Largest Premarket Movements are in Stocks

Look at the firms that are generating news in the premarket trade.

Pfizer—After announcing that it would stop developing its twice-daily experimental weight-loss medicine, the pharmaceutical company’s shares fell 4.2%. Patients in a mid-stage clinical research experienced a significant incidence of unfavourable side effects, according to Pfizer. It still intends to make trial data available for its once-daily version available in 2019.

Elastic N.V. — After Wells Fargo upgraded the search engine company’s stock to overweight, its shares increased by more than 18%. Elastic is well-positioned to benefit from a generative artificial intelligence opportunity for its search engine, according to analyst Andrew Nowinski, which might result in future revenue growth.

Paramount Global — Following a Wall Street Journal report stating that the media conglomerate has discussed the potential of bundling their streaming services at a lower price with Apple, the shares increased by over 3%.

Alibaba: After Morgan Stanley downgraded the company to equal-weight and expressed concern over a slower-than-expected recovery in Alibaba’s cloud division, the Chinese multinational fell by 2%.

Disney — After the corporation declared it will restore the old dividend of 30 cents per share, following a proxy fight from Nelson Peltz and his company Trian Fund Management, shares of the conglomerate increased by 0.35%.

Tesla — The automaker’s shares dropped 1.9% as investors processed the new Cybertruck’s specifications. Tesla scheduled a delivery event for this Thursday. The decrease widens the 1.7% loss from the trading session on Thursday.

Ulta Beauty: Following the release of third-quarter profits that above analyst projections, the beauty goods retailer’s stock increased by almost 12%. Compared to the $4.95 per share analysts surveyed by LSEG, Ulta’s reported earnings were $5.07 per share. The business’s $2.488 billion in revenue was also more than the $2.468 billion that had been anticipated.

Marvell Technology Following Marvell’s release of lower-than-expected revenue expectations for the fourth quarter, the semiconductor stock dropped more than 5%. However, the company’s third-quarter results topped expectations in both the top and bottom lines.

Dell: Following a mixed third-quarter earnings announcement, the computer maker’s stock dropped by over 6%. With an adjusted earnings per share of $1.88, the company beat Wall Street projections, while LSEG surveyed analysts had predicted $1.47. Dell’s quarter-over-quarter revenue of $22.25 billion was less than the $23.001 billion that was anticipated.

Source (CNBC)

SourceCNBC
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