Using TipRanks’ Top Stock Gainers/Losers tool, we have compiled a list of Thursday’s biggest pre-market stock movers, which is as follows:
Five Biggest Movers
Heading the list is Southwest Gas Holdings, Inc. (NYSE: SWX), which slipped around 90% in the pre-market session on Thursday, due to disappointing results for the second quarter and a downward revision of 2022 guidance. The Nevada-based utility firm’s adjusted earnings slipped 20 cents per share year-over-year to 23 cents in the second quarter. The figure also came in lower than the consensus EPS estimate of 54 cents.
California-based Sonos, Inc. (NASDAQ: SONO) was trading nearly 20% down at the last check after losing 18.5% in the extended trading session on Wednesday. Weak fiscal third-quarter results and lowered guidance for the fiscal year 2022 triggered the fall. Revenues decreased 1.8% year-over-year to $371.8 million, missing the Street’s estimate of $424.03 million, and adjusted EPS stood at 19 cents per share, compared to 27 cents last year. The maker of audio products expects FY22 revenue to range from $1.730 billion to $1.755 billion, lower than its earlier guidance range of $1.95 billion to $2 billion.
Next is Enovix Corp. (NASDAQ: ENVX), which gained 13% on the back of a report by Loop Capital Markets analyst Ananda Baruah. The analyst has initiated coverage of the stock with a Buy rating and a price target of $50. He said that the lithium-ion battery producer could be worth $75 billion to $80 billion by the end of 2030 versus its current market cap of $3 billion.
Digital solutions provider AMTD Digital, Inc. (NYSE: HKD) was almost 12% up at the time of writing. The stock closed 2.6% higher on Wednesday after losing 45% on Tuesday. Shares of the Singapore-based company have been witnessing significant volatility since their listing on the New York Stock Exchange last month.
Last is Vizio Holding Corp. (NYSE: VZIO), whose shares spiked 11.1% in Thursday’s early trade, riding on strong results for the second quarter of 2022. The entertainment products and services provider reported a profit of one cent per share, compared to the consensus loss estimate of one cent and the year-ago loss of eight cents per share. Net revenues grew 2% year-over-year to $408.9 million.
Continue to watch this space for possible volatility upon the market open. Tomorrow, we’ll have another up-to-date piece on stock Pre-Market Movers…
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