TipRanks has compiled a list of Tuesday’s biggest pre-market stock movements.
Mixed market sentiment on earnings releases 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
Chegg, Inc. (CHGG) was the biggest laggard in pre-market trading, plunging over 39% at the time of writing. Negative sentiment followed the disappointing revenue guidance issued by the online-education company despite upbeat first-quarter 2022 results. For Q2 2022, the company forecasts revenue in the range of $188 million to $192 million, below the consensus estimate of $209.3 million. Additionally, revenue for 2022 is expected between $740 million and $770 million, missing analysts’ expectations of $843.5 million.
Another loser, Hayward Holdings, Inc. (HAYW) declined 12.4% in pre-market trading at last glance. The global designer, manufacturer, and marketer of a broad portfolio of pool equipment and associated automation systems announced the secondary offering of 22.5 million shares of common stock.
Meanwhile, the manufacturer of electrical raceway products, Atkore Inc. (ATKR), jumped more than 12% in pre-market trading at the time of writing. The company reported better-than-expected second-quarter Fiscal 2022 results, beating expectations for both earnings and revenues. Furthermore, the company provided upbeat EPS guidance for Fiscal 2022, with expectations of $19.65-$20.45, above the consensus estimate of $13.44.
The Estée Lauder Companies Inc. (EL), the American multinational manufacturer and marketer of skincare, makeup, fragrance, and hair care products, dropped 8.5% in pre-market trading at the time of writing. Disappointing revenues for the third quarter of Fiscal 2022 and EPS guidance miss for the fiscal year raised investor anxiety despite a Q3 earnings beat. For fiscal 2022, the company expects EPS to land between $7.05 and $7.15, below the Street’s estimate of $7.57.
Hyatt Hotels Corporation (H) completes the list. It gained more than 9% in pre-market trading at last check. Positive sentiment followed the company’s introduction of its newest lifestyle brand, the Caption by Hyatt brand. The company plans to open the 136-room Caption by Hyatt Beale Street Memphis in Tennessee this summer.
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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