Micron, Concentrix And Other Big Stocks Moving Lower In Thursday's Pre-Market Session
Portfolio Pulse from Lisa Levin
Several US stocks traded lower in Thursday's pre-market session. Workday, Inc. (WDAY) shares dipped 10.1% after Piper Sandler maintained an Overweight rating but lowered the price target. Opera Limited (OPRA) shares fell 6.1% following a proposed secondary follow-on public offering. Concentrix Corporation (CNXC) shares fell 5.5% after reporting worse-than-expected Q3 results and weak Q4 earnings guidance. Micron Technology, Inc. (MU) shares fell 5% despite upbeat Q4 results due to a wider than expected Q1 loss forecast. Cool Company Ltd. (CLCO), Wheels Up Experience Inc. (UP), and Li Auto Inc. (LI) also recorded losses.
September 28, 2023 | 11:21 am
News sentiment analysis
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NEGATIVE IMPACT
Cool Company Ltd. shares fell 2.7% in pre-market trading.
The news does not provide specific reasons for the decrease in the stock price, but the overall market sentiment seems to be negative.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Concentrix Corporation shares fell 5.5% after reporting worse-than-expected Q3 results and weak Q4 earnings guidance.
The worse-than-expected Q3 results and weak Q4 earnings guidance could negatively impact investor sentiment, leading to a potential decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Li Auto Inc. shares fell 2.6% after announcing the termination of the US ATM offering.
The termination of the US ATM offering could negatively impact investor sentiment, leading to a potential decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Micron Technology shares fell 5% despite upbeat Q4 results due to a wider than expected Q1 loss forecast.
Despite the positive Q4 results, the wider than expected Q1 loss forecast could negatively impact investor sentiment, leading to a potential decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Opera Limited shares fell 6.1% following a proposed secondary follow-on public offering.
The proposed secondary follow-on public offering could dilute existing shares, potentially leading to a decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Wheels Up Experience Inc. shares fell 2.7% in pre-market trading.
The news does not provide specific reasons for the decrease in the stock price, but the overall market sentiment seems to be negative.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Workday shares dipped 10.1% after Piper Sandler maintained an Overweight rating but lowered the price target.
The lowered price target by Piper Sandler is likely to negatively impact investor sentiment, leading to a potential decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100