Box, Ambarella, HP And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session
Portfolio Pulse from Lisa Levin
Several US stocks traded lower in Wednesday's pre-market session. Outlook Therapeutics shares fell 66.2% after the FDA issued a Complete Response Letter for ONS-5010 BLA. Ambarella shares dropped 20.7% despite upbeat Q2 earnings due to a weak sales outlook for the current quarter. VAALCO Energy, Sibanye Stillwater, Box, HP, ZTO Express, UP Fintech Holding, Li Auto, and Hut 8 Mining also recorded losses.
August 30, 2023 | 10:24 am
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NEGATIVE IMPACT
Ambarella shares dropped 20.7% despite upbeat Q2 earnings due to a weak sales outlook for the current quarter.
Despite positive Q2 earnings, Ambarella's weak sales outlook for the current quarter has negatively impacted its share price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Box shares fell 9.1% after the company issued Q3 EPS, Q3 sales and FY24 sales guidance below estimates.
Box's lower than expected Q3 and FY24 sales guidance has negatively impacted its share price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
VAALCO Energy shares declined 9.6% in pre-market trading.
VAALCO Energy shares have declined in the pre-market trading, indicating a negative short-term impact.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
HP shares fell 8.3% after the company lowered its earnings forecast for the full year.
HP's lowered earnings forecast for the full year has negatively impacted its share price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Hut 8 Mining shares fell 3% despite the U.S. Court of Appeals ruling that the SEC was wrong to reject Grayscale Investments' spot Bitcoin ETF application.
Despite a positive court ruling for Grayscale Investments' Bitcoin ETF application, Hut 8 Mining shares have fallen, indicating a negative short-term impact.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Li Auto shares declined 4.1% after gaining around 8% on Tuesday.
Li Auto shares have declined after a previous gain, indicating a negative short-term impact.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Outlook Therapeutics shares fell 66.2% after the FDA issued a Complete Response Letter for ONS-5010 BLA.
The FDA's Complete Response Letter for ONS-5010 BLA is a significant setback for Outlook Therapeutics, leading to a sharp drop in its share price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Sibanye Stillwater shares fell 9.5% after declining 5% on Tuesday.
Sibanye Stillwater shares have continued to decline, indicating a negative short-term impact.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
UP Fintech Holding shares fell 4.5% despite reporting better-than-expected second-quarter financial results.
Despite positive Q2 results, UP Fintech Holding shares have fallen, indicating a negative short-term impact.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
ZTO Express shares fell 5.4% following second-quarter results.
ZTO Express shares have fallen following its Q2 results, indicating a negative short-term impact.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100