La-Z-Boy, FedEx And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session
Portfolio Pulse from Lisa Levin
Several big stocks are moving lower in Wednesday's pre-market session, including La-Z-Boy, FedEx, Zura Bio, Cabaletta Bio, Youdao, Kingsoft Cloud, and Cano Health. La-Z-Boy and FedEx reported better-than-expected earnings but issued weak sales forecasts and missed sales estimates, respectively.
June 21, 2023 | 10:39 am
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NEGATIVE IMPACT
Cabaletta Bio shares dipped 7.6% in pre-market trading after dropping 5% on Tuesday.
Cabaletta Bio's stock price is likely to be negatively impacted in the short term due to the significant drop in pre-market trading after a decline on Tuesday.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Cano Health shares slipped 2.8% in pre-market trading after gaining around 14% on Tuesday following the announcement of CEO Dr. Marlow Hernandez stepping down and the appointment of Mark Kent as interim CEO.
Cano Health's stock price is likely to be negatively impacted in the short term due to the decline in pre-market trading after the announcement of a CEO change and a significant gain on Tuesday.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Youdao shares fell 6.4% in pre-market trading after dropping over 7% on Tuesday.
Youdao's stock price is likely to be negatively impacted in the short term due to the significant drop in pre-market trading after a decline on Tuesday.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
FedEx shares fell 2.9% in pre-market trading after reporting better-than-expected earnings for Q4, while sales missed estimates. The company also announced the retirement of its CFO Michael Lenz.
FedEx's better-than-expected earnings for Q4 are a positive sign, but the missed sales estimates and the announcement of the CFO's retirement are likely to negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Kingsoft Cloud shares declined 3.7% in pre-market trading after the company recently reported a share purchase by its Vice Chairman and CEO.
Kingsoft Cloud's stock price is likely to be negatively impacted in the short term due to the decline in pre-market trading after the company reported a share purchase by its Vice Chairman and CEO.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
La-Z-Boy shares dropped 5.3% in pre-market trading after announcing better-than-expected earnings for Q4 but issuing a weak sales forecast for the current quarter.
La-Z-Boy's better-than-expected earnings for Q4 are a positive sign, but the weak sales forecast for the current quarter is likely to negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Zura Bio shares tumbled 7.7% in pre-market trading after jumping 35% on Tuesday.
Zura Bio's stock price is likely to be negatively impacted in the short term due to the significant drop in pre-market trading after a large jump on Tuesday.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100