TipRanks has compiled a list of Wednesday’s biggest pre-market stock movements.
Company-specific news and other variables seem to have dominated today’s 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
Manchester United plc (MANU), the operator of a professional football club, was the biggest gainer in pre-market trading, rising around 10.5% at the time of writing. Recently, the company appointed Andy O’Boyle as the new deputy football director. He was previously the Premier League’s head of elite performance.
Salesforce (CRM) gained 8.7% in pre-market trading, at the last check. The cloud-based customer relationship management (CRM) company posted strong results for the first-quarter Fiscal 2023 (ended April 30). However, management lowered its sales forecast for the year due to foreign exchange challenges, while raising profitability forecasts due to operational improvements.
CVR Energy, Inc. (CVI), a provider of petroleum refining and marketing business, jumped 8.66% in pre-market trading at last glance. There is no company-specific news supporting the trading frenzy.
Meanwhile, S&P Global Inc. (SPGI) plummeted 7.64% in pre-market trading at the time of writing. The company provides credit ratings, benchmarks, analytics, and workflow solutions globally. The suspension of guidance by the company for full-year 2022 rose investor anxiety. According to the company, deteriorating macroeconomic conditions had a negative impact on the company’s expected GDP growth and debt issuance volumes.
Victoria’s Secret & Co. (VSCO) completes the list. It surged 7.4% in pre-market trading at the time of writing. Positive sentiment followed better-than-expected results for the first quarter of Fiscal 2022. Additionally, the company provided a decent outlook for the July quarter. For Fiscal Q2 2022, the company projects sales to be up low-single-digits to down low-single-digits on a year-over-year basis. Operating income is anticipated in the range of $125 million to $155 million, while EPS is expected to land between $0.95 and $1.25.
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…
Read full Disclosure
