TipRanks has compiled a list of Thursday’s biggest pre-market stock movements.
Earnings releases and other variables seem to have dominated today’s 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
The online pet-products retailer Chewy, Inc. (CHWY) was the biggest gainer in pre-market trading, recording gains of 17.7% at the time of writing. The company posted a surprise profit in the first-quarter Fiscal 2022 and upbeat revenues. Additionally, it provided a strong outlook driving investors’ optimism. For Fiscal Q2 2022, Chewy forecasts revenue in the range of $2.43 billion to $2.46 billion, compared with the consensus estimate of $2.44 billion. For Fiscal 2022, revenue is expected to land between $10.2 billion and $10.4 billion, against analysts’ expectations of $10.26 billion.
Meanwhile, Universal Display Corporation (OLED) lost 12.55% in pre-market trading, at the last check. There is no company-specific news supporting the trading frenzy. The company makes organic light-emitting diode technologies and materials, as well as provides services to the display and lighting industries.
Online sports betting and gaming operator Super Group (SGHC) Limited (SGHC) rose around 12.4% in pre-market trading at the time of writing after recording losses of 5.29% at yesterday’s close. There is no fundamental news to explain the volatility in the stock.
Provider of flash-based storage solutions Pure Storage, Inc. (PSTG) jumped 11.54% in pre-market trading at last glance. Positive sentiment followed upbeat first-quarter Fiscal 2023 results and an above-expectation outlook provided by the tech company. For Q2 2023, the company expects revenue of $635 million, up from the consensus estimate of $604.6 million.
Global software company UiPath Inc. (PATH) completes the list. It surged about 9.9% in pre-market trading at the time of writing. Positive sentiment followed a lower-than-expected loss for the first quarter of Fiscal 2023, upbeat revenues, and above-expectation guidance. For Fiscal Q2 2023, the company projects revenue in the range of $229 to $231 million, versus the consensus estimate of $228.9 million. For Fiscal 2023, revenue is expected to land between $1.085 billion and 1.09 billion, above the Street’s estimate of $1.08 billion.
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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