TipRanks has compiled a list of Thursday’s biggest pre-market stock movements.
Mixed market sentiment on earnings releases 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
Specialty chemicals manufacturing company Albemarle Corporation (ALB) was the biggest gainer in pre-market trading, jumping around 14% at the time of writing. Positive sentiment followed the company’s upbeat first-quarter 2022 results on the rising price of lithium. Additionally, Albemarle provided better-than-expected guidance for 2022, with revenue expectations in the range of $5.2 billion to $5.6 billion, above the consensus estimate of $4.4 billion. Additionally, EPS is likely to range between $9.25 and $12.25, above the consensus estimate of $6.22.
Meanwhile, BRF S.A. (BRFS), a Brazilian food processing company, plunged 13.9% in pre-market trading at last glance, after closing 3.3% higher at yesterday’s close. Though there is no fundamental news explaining the trading frenzy, it seems the stock has been impacted by macro concerns.
Online marketplace for buyers and sellers, Etsy, Inc. (ETSY), tumbled 11.75% in pre-market trading at the time of writing. Though the company reported better-than-expected first-quarter 2022 results, the bleak revenue outlook for Q2 2022 sparked negative sentiment. For Q2 2022, Etsy expects revenue in the range of $540 million to $590 million, compared with the Street’s estimate of $627.8 million.
Silicon Motion Technology Corporation (SIMO) gained 10.75% in pre-market trading at the time of writing. The surge in price followed media reports that the chipmaker is in talks to be acquired by MaxLinear Inc. Silicon Motion is an American-Taiwanese company engaged in developing NAND flash controller integrated circuits for solid-state storage devices.
Maxar Technologies Inc. (MAXR) completes the list. It lost around 9.9% in pre-market trading at the last check. There is no business-specific news to explain the downtrend in price.
Continue to watch this space for possible volatility upon the market opens. Tomorrow, we’ll have another up-to-date piece on stock Pre-Market Movers…
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