Using TipRanks’ Top Stock Gainers/Losers tool, we have compiled a list of Friday’s biggest pre-market stock movers, which is as follows:
Pre Market Biggest Movers
Topping the list is online luxury fashion retailer Farfetch Ltd. (NYSE:FTCH), which gained over 18% in Friday’s pre-market trading session. Yesterday, after the market close, the company reported upbeat Q2 results, topping both earnings and revenue expectations. Q2 adjusted loss of 17 cents was better than the feared loss of 25 cents. Further, revenues topped by $12.8 million. On Wednesday, the company agreed to acquire a 47.5% stake in rival Richemont’s subsidiary, Yoox Net-a-Porter Group (YNAP), in exchange for 12% to 13% of its shares.
Second on the list is fintech stock Affirm Holdings, Inc. (NASDAQ: AFRM), which declined more than 13% early Friday, after the company reported a worse-than-feared Q2 loss of $0.65 per share. Analysts had expected the company to post a loss of $0.53 per share. Further, the buy now, pay later lender provided dull revenue guidance for its fiscal first quarter and full year of 2023, compared to Street’s estimates.
Workday, Inc. (WDAY), a provider of enterprise cloud applications for finance and human resources worldwide, rose over 10.7% in Friday’s pre-market trade on the back of impressive second-quarter results. Further, despite macroeconomic concerns, the company has reiterated its full-year guidance, boosting investors’ confidence.
Last on the list is global apparel retailer Gap (NYSE:GPS) whose shares were seen gaining 7.5% in Friday’s early trading hours. The company has reported adjusted earnings of $0.08 per share against the Street’s loss estimate of $0.05 per share. The top line managed to exceed expectations despite registering a year-over-year decline in Q2. Positively, however, the rate of decline moderated from Q1 levels.
Continue to watch this space for possible volatility upon the market open. On Monday, we’ll have another up-to-date piece on stock Pre-Market.
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