Wednesday, July 24, 2024
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The Most Volatile Stocks Before Market Opening

Before the bell, look at the businesses generating news.

Target’s shares increased by about 8% before the market opened, despite the retailer cutting its full-year revenue forecast and reporting current quarter revenue that fell short of Wall Street expectations. Analysts surveyed by Refinitiv predicted $1.39 in earnings per share, while the company actually reported $1.80. In contrast to the expectation of $25.16 billion, actual revenue came in at $24.77 billion.

Tesla – The electric vehicle company’s stock fell more than 2% before the opening bell on reports that it had lowered the price of its Model S and Model X stocks in China.

Shares of Cava, a fast-casual business in the Mediterranean, increased more than 9% after the company reported a profit in the first quarter following its IPO. As Cava established more outlets, revenue increased 62% in the most recent quarter to around $173 million.

The National Futures Association, a CFTC-designated self-regulatory organisation, approved Coinbase to run a futures trading service alongside its current spot bitcoin trading offering, and the U.S. cryptocurrency exchange’s shares increased by roughly 4% before the bell.

The TJX Companies The stock of the discount retailer increased by 3% after its quarterly earnings exceeded expectations. On revenue of $12.76 billion, TJX reported adjusted earnings of 85 cents per share. According to Refinitiv, that was higher than the 77 cents and $12.45 billion analysts had predicted.

Coherent – After releasing weaker-than-expected fiscal first quarter and full year projections, Coherent fell more than 23% before the bell. Expectations for “no major improvement” in the macroeconomic environment, notably China, were cited by the corporation as the reason for the poor outlook.

Source (CNBC)

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