Market News

These Stocks Are the Biggest Pre-Market Movers on Thursday

Story Highlights

PTON, SNOW, SPLK, FATE, and ADSK stocks showed maximum price movement on Thursday.

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

Montana-based Snowflake Inc. (NYSE:SNOW) topped the list as its shares jumped 17.6% on the back of strong fiscal second-quarter revenues and guidance. Revenues increased 83% year-over-year to $497.25 million, beating the consensus estimate of $467.4 million. The cloud-computing company expects product revenue to lie in the range of $500 million to $505 million in the third quarter and $1.905 billion to $1.915 billion in the Fiscal Year 2023.

Disappointing fiscal fourth-quarter results pushed shares of New York-based Peloton Interactive Inc. (NASDAQ:PTON) down almost 15% in Thursday’s early trade. Revenues decreased 28% year-over-year and missed the Street’s expectation of $685.9 million to total $678.7 million. The interactive fitness services provider posted a loss of $3.68 per share, significantly wider than the consensus loss estimate of 78 cents and a loss of $1.05 per share reported in the same period last year.

Next comes software firm Splunk Inc. (NASDAQ:SPLK), which lost 10.4% before the bell. Despite reporting excellent results for the fiscal second quarter that ended July 31, the stock plunged following a reduction in the company’s annual recurring revenue (ARR) guidance for the Fiscal Year 2023 to $3.65 billion from $3.9 billion expected earlier.

California-headquartered Fate Therapeutics Inc. (NASDAQ:FATE) gained almost 9% in the pre-market session on Thursday after closing 2.6% higher on Wednesday. According to a recent report, Swiss National Bank raised its stake in the biopharmaceutical company by 7.8% (13,100 shares) in the first quarter. Following the purchase, the central bank of Switzerland owns 180,600 shares of Fate worth $7 million.

Lastly, Autodesk Inc. (NASDAQ:ADSK) was trading 8.7% up at the time of writing, riding on upbeat fiscal second-quarter results. Revenues increased 17% year-over-year to $1.24 billion, beating the Street’s expectation of $1.22 billion. Adjusted earnings came in at $1.65 per share, higher than the consensus estimate of $1.57 per share and the year-ago figure of $1.21 a share.

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…

Read full Disclosure

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More