Using TipRanks’ Top Stock Gainers/Losers tool, we have compiled a list of Wednesday’s biggest pre-market stock movers, which is as follows:
Five Biggest Movers
Israel-based Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) tops the list by gaining 18.3% in Wednesday’s pre-market trading session. The company reported upbeat results for the second quarter of 2022 on Tuesday. Earnings came in at $0.68 per share, higher than the Street’s estimate of $0.56 per share and the year-ago figure of $0.59 per share. Further, it has reached an agreement in principle to settle thousands of lawsuits related to its role in the U.S. opioid epidemic.
Shares of Western Midstream Partners LP (NYSE: WES) were trading 11.1% higher at the last check. The Texas-headquartered midstream assets company recently announced a cash distribution of $0.50 per share for the second quarter. The amount is payable on August 12 to shareholders on the record of August 1.
Next on the list is California-based Enphase Energy, Inc. (NASDAQ: ENPH), which was up 10.1% at the time of writing. The stock was riding high on better-than-expected second-quarter performance. Its EPS of $1.07 was significantly higher than the consensus estimate of $0.85 per share and $0.53 per share reported in the previous year. Revenues increased 20% year-over-year to a record $530.2 million.
Shares of Chipotle Mexican Grill, Inc. (NYSE: CMG) rose 8.6% early Wednesday. Excellent second-quarter results pushed the stock up after closing almost 1% down on Tuesday. Adjusted earnings of the Mexican fast food restaurant chain operator grew 24.7% year-over-year to $9.30, beating expectations of $9.04 per share. Revenues soared 17% and comparable restaurant sales increased over 10%.
Last on the list is Pagaya Technologies Ltd. (NASDAQ: PGY), which was trending 8.5% down in Wednesday’s pre-market trading session, after rising more than 73% on Tuesday. The price drop is a pullback after the Israeli fintech company’s stock skyrocketed 347% in the five days on the back of potential takeover speculations.
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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