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These Stocks are the Biggest Pre-Market Movers on Thursday
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These Stocks are the Biggest Pre-Market Movers on Thursday

TipRanks has compiled a list of Thursday’s biggest pre-market stock movements. 

Amid the ongoing uncertain economic environment, mixed market sentiment on earnings releases, macro factors, 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 

American multinational technology conglomerate corporation Cisco Systems, Inc. (CSCO)  was the biggest laggard in pre-market trading, plummeting around 11.6% in pre-market trading at the time of writing. Negative sentiment followed disappointing third-quarter Fiscal 2022 revenues and bleak guidance, hit hard by lockdowns in China and the Russia-Ukraine conflict. For Fiscal Q4 2022, Cisco expects revenue to decrease between 1% and 5.5%, compared with Street’s expectations of about 6% growth. Meanwhile, adjusted EPS is likely in the range of $0.76 to $0.84, below the consensus estimate of $0.92. For Fiscal 2022, revenue is expected to represent 2% to 3% year-over-year growth, while adjusted EPS is expected in the $3.29 to $3.37 range, compared with analysts’ expectations of $3.44.

Companhia Siderúrgica Nacional (SID), the largest fully integrated steel producer in Brazil, lost around 11% in pre-market trading at the time of writing, after recording losses of 6.67% at Wednesday’s close. There is no company-specific news to explain the trading frenzy but seems that macro issues are driving investor anxiety. 

Meanwhile, Japanese financial holding company Nomura Holdings, Inc. (NMR) surged 9.86% in pre-market trading at the time of writing. Positive momentum continued on the recent announcement by the company to launch a new unit for digital assets. The company plans to offer exposure to cryptocurrency, decentralized finance (DeFi), and non-fungible tokens (NFTs) through the new subsidiary. 

ZipRecruiter, Inc. (ZIP) plunged 8.6% in pre-market trading at last glance, after dropping more than 6% at Wednesday’s close. There is no company-specific news to explain the downtrend. 

American specialty retailer Bath & Body Works, Inc. (BBWI) completes the list. It decreased around 7.9% in pre-market trading at the last check. The company posted upbeat first-quarter Fiscal 2022 results and exceeded the company’s guidance. However, lower guidance provided by the company, which was triggered by increased technology investments, costs related to the customer loyalty programs, and inflationary pressures, rose investor anxiety. For Fiscal Q2 2022, the company forecasts EPS between $0.60 and $0.65, compared with earnings of $0.77 per share in the prior year. For Fiscal 2022, earnings are expected to land between $3.80 and $4.15, lower than the prior guidance range of $4.30 and $4.70. 

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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