Tesla, Netflix, Discover Financial Services And Other Big Stocks Moving Lower In Thursday's Pre-Market Session
Portfolio Pulse from Lisa Levin
Several major stocks are recording losses in today's pre-market trading session. Discover Financial Services reported downbeat quarterly earnings and paused share buybacks, causing a 12.2% dip. Richardson Electronics also reported worse-than-expected Q4 earnings, leading to a 9.3% tumble. Netflix's shares declined by 6.8% despite upbeat Q2 earnings due to sales missing expectations. Other companies experiencing pre-market losses include Copa Holdings, Crown Castle Inc., SL Green Realty Corp., Coherent Corp., Tesla, and Taiwan Semiconductor Manufacturing Company.
July 20, 2023 | 10:15 am
News sentiment analysis
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NEGATIVE IMPACT
Crown Castle Inc. shares fell 4.8% in pre-market trading after reporting Q2 results and issuing a weak FY23 earnings outlook.
The company's weak FY23 earnings outlook, despite Q2 results, is likely to negatively impact investor sentiment, leading to a decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Coherent Corp. shares declined 3.3% in pre-market trading. The company recently named Dr. Christopher Dorman as Executive Vice President, Lasers Business.
The recent executive appointment may have caused uncertainty among investors, leading to a decrease in the stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Copa Holdings shares fell 5.3% in pre-market trading after Raymond James maintained a Strong Buy but lowered the price target.
The lowered price target by Raymond James, despite maintaining a Strong Buy, is likely to negatively impact investor sentiment, leading to a decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Discover Financial Services shares dipped 12.2% in pre-market trading after reporting downbeat quarterly earnings and a share buyback pause.
The company's downbeat earnings and pause in share buybacks are likely to negatively impact investor sentiment, leading to a decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Netflix shares declined 6.8% in pre-market trading despite upbeat Q2 earnings due to sales missing expectations.
Despite upbeat Q2 earnings, the company's sales missing expectations is likely to negatively impact investor sentiment, leading to a decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Richardson Electronics shares tumbled 9.3% in pre-market trading after reporting worse-than-expected Q4 earnings.
The company's worse-than-expected earnings for Q4 are likely to negatively impact investor sentiment, leading to a decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
SL Green Realty Corp. shares fell 3.5% in pre-market trading after reporting lower-than-expected Q2 sales results.
The company's lower-than-expected Q2 sales results are likely to negatively impact investor sentiment, leading to a decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Tesla shares declined 3% in pre-market trading. The company reported better-than-expected earnings and sales for Q2, but said operating margin narrowed.
Despite better-than-expected earnings and sales for Q2, the company's narrowing operating margin is likely to negatively impact investor sentiment, leading to a decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Taiwan Semiconductor Manufacturing Company shares declined 2.9% in pre-market trading as the company expects a decline of around 10% in sales for 2023.
The company's expected sales decline for 2023 is likely to negatively impact investor sentiment, leading to a decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100