Using TipRanks’ Top Stock Gainers/Losers tool, we have compiled a list of Tuesday’s biggest pre-market stock movers, which is as follows:
Five Biggest Movers
Topping the list is Goodrx Holdings, Inc. (NASDAQ: GDRX), which gained 52.7% in the pre-market trading session on Tuesday, riding on better-than-expected second-quarter results. The digital healthcare platform has reported an adjusted EPS of six cents, exceeding the Street’s estimate of four cents per share. Revenue increased 9% year-over-year to $191.8 million, compared to analysts’ expectations of $184.7 million.
Shares of Novavax, Inc. (NASDAQ: NVAX) were trending 29.1% down at the time of writing, after losing 32% in Monday’s after-hours trade. The fall was triggered by disappointing results for the second quarter of 2022 on Monday. The biotechnology company’s revenue declined to $186 million from $298 million in the year-ago quarter, and its net loss widened to $6.53 per share from $4.75 per share in the previous year. The consensus estimate for loss stood at $5.54 per share.
Next is Liberty Media Formula One (NASDAQ: FWONA), which lost more than 14% early Tuesday, after closing 3.6% up on Monday. While no immediate reason could be identified for the sudden fall in the price of the British company’s stock price, it released its second-quarter results last week. Earnings declined to seven cents per share from 24 cents in the second quarter of 2021.
Massachusetts-based online automotive shopping platform CarGurus, Inc. (NASDAQ: CARG) slipped 13.4% at the last check. The stock fell as a result of weak guidance that it had provided along with its second-quarter results released on Monday. For the third quarter, the company expects revenues to range from $460 million to $490 million and EPS to lie between $0.25 and $0.28. Both the projections are below the consensus estimate of $554.6 million and $0.33 per share, respectively.
Lastly, Weber, Inc. (NYSE: WEBR) was trading 12.2% up in Tuesday’s early trade. There is no company-specific news that can explain the uptrend. The outdoor cooking products maker is scheduled to release its fiscal third-quarter result on August 15. The Street expects Weber to record a loss of seven cents per share, compared to a profit of 33 cents in the year-ago quarter.
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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