TipRanks has compiled a list of Thursday’s biggest pre-market stock movements.
Today’s stock market is dominated by mixed market sentiment on earnings releases and guidance, along with other variables.
Using TipRanks’ new Top Stock Gainers/Losers page, we’ve identified the top 5 pre-market stock movers, as detailed below.
5 Biggest Movers
Vimeo, Inc. (VMEO) was the biggest laggard in pre-market trading, as the stock plummeted almost 20% at the time of writing. Though the company posted a lower-than-expected fourth-quarter 2021 loss and upbeat revenues, negative sentiment followed management’s expectations of slower revenue growth in 2022. For 2022, revenue growth is expected in the range of 15% to 18% year-over-year, compared with 38% in 2021. Vimeo is the all-in-one video software solution, which provides the full breadth of video tools through a software-as-a-service model.
Meanwhile, California-based Twilio Inc. (TWLO) jumped 17.8% in pre-market trading, at last watch. Positive sentiment followed the cloud communications platform’s upbeat fourth-quarter 2021 results and first-quarter 2022 revenue guidance, which came in above expectations. For Q1 2022, revenue is expected in the range of $855 million to $865 million, versus the consensus estimate of $802.9 million.
Seagen Inc. (SGEN) dropped 16.6% in pre-market trading at the time of writing. Negative sentiment came on the back of disappointing fourth-quarter 2021 results and below-expectations revenue guidance provided by the company. For 2022, the biotechnology company expects revenue in the range of $1.665 billion to $1.745 billion, versus the consensus estimate of $2.16 billion.
Global modern card issuing platform Marqeta, Inc. (MQ) surged in pre-market trading, recording gains over 12% at the time of writing. Investors’ optimism was raised following the appointment of Mike Milotich as the company’s new Chief Financial Officer, effective February 22, 2022. With over 20 years of experience in corporate finance, Milotich had been working at Visa (V). Additionally, the company has forecasted that it will surpass its guidance, which was provided in November, for both net revenue and adjusted EBITDA for the fourth quarter, driven by higher-than-expected processing volumes. Its earnings results will be announced on March 9.
California-based Mattel, Inc. (MAT) rounded off the list. It increased 10.8% in pre-market trading following its fourth-quarter 2021 results, which topped analysts’ expectations. The company also provided upbeat earnings guidance and said that its business turnaround is “complete.” For 2022, the company forecasts adjusted earnings of $1.42 to $1.48 per share, above the consensus estimate of $1.39 per share. Additionally, revenue growth of between 8% and 10% is expected. Mattel is an American multinational toy manufacturing and entertainment company.
Continue to watch this space. Tomorrow, we’ll have another up-to-date piece on stock Pre-Market Movers…
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