TipRanks has compiled a list of Monday’s biggest pre-market stock movements.
Today’s stock market is dominated by mixed market sentiment on earnings releases, macroeconomic concerns, 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
Splunk Inc. (SPLK) was the biggest gainer in pre-market trading, as the stock rose 8.7% at the time of writing. The surge in price came on the heels of media reports that the American software company has received a $20 billion buyout offer from Cisco Systems (CSCO), an American multinational technology conglomerate corporation.
Meanwhile, California-based Macerich (MAC) lost around 7% in pre-market trading, at last watch. Negative sentiment followed the real estate investment trust’s disappointing fourth-quarter 2021 results. The company reported a wider-than-expected loss in the quarter. Funds from Operations (FFO), excluding certain costs, came in at $0.53 per share.
Cassava Sciences, Inc. (SAVA), a clinical-stage biotech firm, declined 6.7% in pre-market trading. Despite the U.S. Food and Drug Administration’s (FDA) rejection of a Citizen Petition associated with the company’s experimental Alzheimer’s treatment simufilam, investors remain anxious. An attorney filed the petition in August 2021 on behalf of short-selling clients.
Millicom International Cellular S.A. (TIGO) dropped 6% in pre-market trading at the time of writing. Fourth-quarter 2021 loss and below-expectations revenue results raised investors’ concerns. The provider of cable and mobile services in Latin America and Africa posted a net loss of $27 million and revenues of $1.35 billion, below the consensus estimate of $1.73 billion.
Singapore-based internet and mobile platform company Sea Limited (SE) rounded off the list. It fell more than 5% in pre-market trading, at the time of writing. The negative sentiment seems to have followed the ban by India on 54 apps of Chinese origin, which includes the company’s marquee game Free Fire, due to certain security concerns.
Continue to watch this space. Tomorrow, we’ll have another up-to-date piece on stock Pre-Market Movers…
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