TipRanks has compiled a list of Friday’s biggest pre-market stock movements.
Amid the ongoing uncertain economic environment, mixed market sentiment on earnings releases, macro factors, and other variables seem to have dominated today’s stock market. Using TipRanks’ new Top Stock Gainers/Losers page, we’ve identified the top five pre-market stock movers, as detailed below.
5 Biggest Movers
Ross Stores, Inc. (ROST), an American chain of discount department stores was the biggest laggard in pre-market trading, plummeting around 27.5% in pre-market trading at the time of writing. Negative sentiment followed disappointing first-quarter Fiscal 2022 results and bleak guidance. For Fiscal Q2 2022, Ross expects EPS in the range of $0.99-$1.07, versus the consensus estimate of $1.32. For Fiscal 2022, EPS is expected to land between $4.34 and $4.58, compared with analysts’ expectations of $5.04.
Millicom International Cellular S.A. (TIGO), the provider of cable and mobile services in Latin America and Africa, lost 20.8% in pre-market trading at the time of writing, after recording gains of 5.69% at yesterday’s close. It seems that the recent disclosure of the terms of the rights offering by the company is driving volatility in the stock.
Meanwhile, Cybersecurity firm Palo Alto Networks, Inc. (PANW) jumped 11.2% in pre-market trading at last glance. The company posted upbeat third-quarter Fiscal 2022 results and strong guidance. For Fiscal Q4 2022, the company forecasts adjusted EPS between $2.26 and $2.29, above the consensus estimate of $2.22. Meanwhile, revenues are expected to land between $1.53 billion and $1.55 billion, compared with the Street’s estimate of $1.53 billion. For Fiscal 2022, adjusted earnings are expected to come in the range of $7.43 and $7.46, above analysts’ expectations of $7.29. Meanwhile, revenue is predicted to be in the range of $5.481 billion to $5.501 billion, higher than the consensus estimate of $5.47 billion.
National Retail Properties, Inc. (NNN) surged 10.5% in pre-market trading at the time of writing. There is no fundamental news explaining the trading frenzy.
American national off-price department store retailer Burlington Stores, Inc. (BURL) completes the list. It decreased around 8.3% in pre-market trading at the last check. There is no company-specific news to explain the downtrend but it seems market volatility is igniting negative sentiment.
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