Domo, Marvell Technology, PagSeguro And Other Big Stocks Moving Lower In Friday's Pre-Market Session
Portfolio Pulse from Lisa Levin
Several stocks are recording losses in today's pre-market trading session. Domo shares tumbled 25.5% after issuing FY24 guidance below estimates. Hawaiian Electric shares dipped 22% as it plans to suspend quarterly cash dividend on common stock from Q3 2023. Ideanomics shares declined 19.5% following a 1-for-125 reverse stock split. PagSeguro Digital fell 6.9% after weaker-than-expected Q2 results. DigitalOcean shares fell 6% as it initiated a CEO search process. Digital World declined 5.1% after receiving a notification from Nasdaq related to delayed quarterly report. Olaplex fell 4.6% after Piper Sandler downgraded it from Neutral to Underweight. Marvell Technology fell 4.4% despite posting upbeat Q2 earnings and issuing Q3 2024 revenue guidance of $1.4 billion.
August 25, 2023 | 10:20 am
News sentiment analysis
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NEGATIVE IMPACT
DigitalOcean shares fell 6% as it initiated a CEO search process.
The initiation of a CEO search process introduces uncertainty about the company's leadership, which is likely to put downward pressure on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Domo shares tumbled 25.5% after issuing FY24 guidance below estimates.
The company's FY24 guidance below estimates is a negative signal to investors, which is likely to put downward pressure on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Digital World declined 5.1% after receiving a notification from Nasdaq related to delayed quarterly report.
The notification from Nasdaq related to delayed quarterly report is a negative signal to investors, which is likely to put downward pressure on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Hawaiian Electric shares dipped 22% as it plans to suspend quarterly cash dividend on common stock from Q3 2023.
The suspension of the quarterly cash dividend is a negative signal to investors, especially those who rely on dividend income, which is likely to put downward pressure on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ideanomics shares declined 19.5% following a 1-for-125 reverse stock split.
The 1-for-125 reverse stock split is likely to be viewed negatively by investors, which is likely to put downward pressure on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Marvell Technology fell 4.4% despite posting upbeat Q2 earnings and issuing Q3 2024 revenue guidance of $1.4 billion.
Despite the positive earnings report and revenue guidance, the stock price fell, indicating that other factors may be influencing investor sentiment negatively.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Olaplex fell 4.6% after Piper Sandler downgraded it from Neutral to Underweight.
The downgrade from Piper Sandler is a negative signal to investors, which is likely to put downward pressure on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
PagSeguro Digital fell 6.9% after weaker-than-expected Q2 results.
The weaker-than-expected Q2 results are a negative signal to investors, which is likely to put downward pressure on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100