Virgin Galactic, Squarespace And Other Big Stocks Moving Higher In Friday's Pre-Market Session
Portfolio Pulse from Lisa Levin
Several stocks are moving higher in Friday's pre-market session, including Virgin Galactic, Nikola, iRobot, Eneti, MorphoSys, Coherent, Canoo, Akoya Biosciences, Squarespace, and Adobe. Key drivers include commercial spaceflight announcements, acquisitions, and better-than-expected earnings.
June 16, 2023 | 10:50 am
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POSITIVE IMPACT
Adobe shares gained 3.3% in pre-market trading as the company reported better-than-expected results for its second quarter and issued a strong earnings forecast.
Adobe's better-than-expected Q2 results and strong earnings forecast indicate solid financial performance and growth prospects, which is likely to boost investor confidence and drive the stock price higher in the short term.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
iRobot shares surged 21.7% in pre-market trading as Amazon's purchase of iRobot was cleared by the UK's Competition and Markets Authority.
The clearance of Amazon's purchase of iRobot by the UK's Competition and Markets Authority removes a major hurdle for the acquisition, which is likely to boost investor confidence and drive the stock price higher in the short term.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Nikola shares climbed 24.3% in pre-market trading after gaining around 30% on Thursday, following shareholders' rejection of the company's proposal to issue more stock shares.
Shareholders' rejection of Nikola's proposal to issue more stock shares is seen as a positive development by investors, as it prevents dilution of existing shares. This has led to a surge in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Virgin Galactic shares jumped 38.7% in pre-market trading as the company announced the start of commercial spaceline operations and its first commercial spaceflight.
Virgin Galactic's announcement of the start of commercial spaceline operations and its first commercial spaceflight is a significant milestone for the company, which is likely to boost investor confidence and drive the stock price higher in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Squarespace shares rose 5.1% in pre-market trading as the company entered into a definitive agreement to acquire Alphabet Inc's Google Domains business.
Squarespace's acquisition of Google Domains is expected to strengthen its product offering and expand its customer base, which is likely to boost investor confidence and drive the stock price higher in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100