TipRanks has compiled a list of Friday’s biggest pre-market stock movements.
Mixed market sentiment seems to be driven by company-specific news, earnings releases, and other variables. Using TipRanks’ new Top Stock Gainers/Losers page, we’ve identified the top five pre-market stock movers, as detailed below.
5 Biggest Movers
American department store retail chain Kohl’s Corporation (KSS) was the biggest laggard in pre-market trading, recording losses of 17.48% at the time of writing. According to media reports, Kohl’s will terminate the plan to sell its business to Franchise Group (FRG).
Meanwhile, Snap-on Incorporated (SNA) gained 5.79% in pre-market trading at the last check. The company offers high-end tools and equipment used professionally in the transportation industry. Hedge fund Ritholtz Wealth Management bought an additional 60 shares of the company’s stock in the first quarter, reflecting an increase of 5.3% stake. The disclosure of the purchase in the recent SEC filing appears to have driven investor sentiment.
Chipmaker Micron Technology, Inc. (MU) declined 4.4% in pre-market trading at the time of writing. Negative sentiment followed the company’s weaker-than-expected fourth-quarter revenues and earnings, despite upbeat third-quarter Fiscal 2022 results.
American retailer Macy’s, Inc. (M) decreased 4.37% in pre-market trading at the time of writing. There is no company-specific news explaining the downtrend.
The Netherlands-based health technology company Koninklijke Philips N.V. (PHG) completes the list. It lost 3.86% in pre-market trading at the last check. Recently, Philips incorporated the blood-based proteomic nodule risk assessment testing of Biodesix into its Lung Cancer Orchestrator. The move will help in the early diagnosis of lung cancer.
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