TipRanks has compiled a list of Friday’s biggest pre-market stock movements.
Today’s stock market is influenced by earnings releases, mixed market sentiment, and other variables.
Using TipRanks’ new Top Stock Gainers/Losers page, we’ve identified the top 5 pre-market stock movers, as detailed below.
5 Biggest Movers
Robinhood Markets, Inc. (HOOD) was the biggest laggard in the pre-market trading session, as the stock had dropped over 14% at the time of writing. Investor sentiment was negatively impacted by the wider-than-expected fourth-quarter 2021 loss and disappointing first-quarter 2022 revenue guidance reported by the company. For Q1 2022, the company forecasts total net revenues to be less than $340 million, much lower than the consensus estimate of $448.2 million. Robinhood Markets runs a modern financial services platform and delivers its own products and services through a single app-based cloud platform.
Meanwhile, Atlassian Corporation Plc (TEAM) gained 9.5% on upbeat Fiscal second-quarter 2022 results, with both revenue and earnings topping expectations. The Australian software company forecasts Q3 2022 EPS in the range of $0.29 to $0.31, versus the consensus estimate of $0.40. However, third-quarter revenue is expected to be between $690 million and $705 million, much higher than analysts’ expectations of $663.02 million.
Western Digital Corporation (WDC), an American computer hard disk drive manufacturer and data storage company, had lost over 10% in pre-market trading, at the last watch. Though the company posted better-than-expected Fiscal second-quarter 2022 results, management’s warning over supply chain challenges impacting profitability in the March quarter disappointed investors. Notably, the company expects to post EPS in the range of $1.50-$1.80 in Fiscal Q3 2022, versus the consensus estimate of $1.76 per share.
Another loser in the pre-market session, Fortune Brands Home & Security, Inc. (FBHS), had recorded a 7.4% slide at the time of writing, without any fundamental news explaining the fall. The company manufactures and supplies home and security products and services.
Semiconductor foundry Globalfoundries Inc. (GFS) rounded off the list. In the pre-market trading session, the stock rose almost 7.4% and looked to open at $48. There was no fundamental news to explain the spike in price.
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