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These Stocks are the Biggest Pre-Market Movers on Tuesday

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

Mixed market sentiment on full-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 

Universal Health Services, Inc. (UHS) was the biggest laggard in pre-market trading, plunging around 12.71% at the time of writing. Investor sentiment was negatively impacted by lower-than-expected first-quarter 2022 earnings despite the revenue beat. Additionally, the company remains concerned for 2022, given COVID-19 uncertainties, along with healthcare staffing shortages unfavorably impacting labor costs. 

Meanwhile, O-I Glass, Inc. (OI), a manufacturer of glass products, was the biggest gainer in pre-market trading, recording gains of 13.2% at the time of writing. Upbeat first-quarter 2022 results posted by the company and a strong outlook raised investor optimism. For Q2 2022, the company expects EPS of $0.55-$0.60, versus the consensus estimate of $0.57, while for 2022, EPS is expected in the range of $1.85-$2.10, compared with analysts’ expectations of $1.89. 

Spain’s biggest lender Banco Santander, S.A. (SAN) plunged 7.8% in pre-market trading at the time of writing. Despite reporting strong March quarter results, negative sentiment seems to have followed the impact of surging inflation on the costs of the lender. Importantly, operating costs rose 8% year-over-year for the quarter. 

Polaris Inc. (PII) lost 7.3% in pre-market trading at the last glance. Negative sentiment followed the company’s disappointing first-quarter 2022 results, missing analysts’ expectations for both earnings and revenues. For 2022, the American manufacturer of motorcycles, snowmobiles, all-terrain vehicles, and neighborhood electric vehicles expects EPS in the range of $10.10-$10.40 per share, versus the consensus estimate of $10.24. Additionally, revenue is likely to land between $9.215 billion and $9.455 billion, compared with analysts’ expectations of $9.33 billion. 

Meanwhile, Virginia-based Trex Company, Inc. (TREX) completes the list. It gained more than 6% in pre-market trading, at last check. There is no fundamental news to explain the trading frenzy for the manufacturer of wood-alternative decking and railing. 

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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