Intuitive Surgical, SolarEdge Technologies And Other Big Stocks Moving Lower In Friday's Pre-Market Session
Portfolio Pulse from Lisa Levin
Several stocks traded lower in Friday's pre-market session, including SolarEdge Technologies, Enphase Energy, SunPower Corporation, Intuitive Surgical, MMTEC, Sunrun, Sunnova Energy International, Canadian Solar, First Solar, and WD-40 Company. SolarEdge's shares tumbled after the company issued preliminary Q3 revenue results below estimates and lowered its non-GAAP gross margin forecast. Enphase Energy's shares fell in sympathy with SolarEdge. SunPower's shares fell after JP Morgan maintained the company with an Underweight. Intuitive Surgical's shares declined after the company reported mixed Q3 financial results. MMTEC's shares fell after a significant jump on Thursday. Sunrun, Sunnova Energy, and Canadian Solar saw their shares decline after Deutsche Bank downgraded them. First Solar's shares declined, and WD-40 Company's shares fell after the company issued a weak earnings forecast for FY24.
October 20, 2023 | 10:00 am
News sentiment analysis
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NEGATIVE IMPACT
Canadian Solar's shares fell in pre-market trading. The company is expected to report Q3 results on Nov. 14, 2023.
The stock price is likely to be negatively impacted in the short term due to the fall in pre-market trading and the upcoming Q3 results announcement.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Enphase Energy's shares fell in sympathy with SolarEdge after the company said its Q3 revenue, gross margin and operating income will be below the low end of its prior guidance range.
The company's announcement of lower Q3 revenue, gross margin, and operating income is likely to negatively impact the stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
First Solar's shares declined in pre-market trading.
The stock price is likely to be negatively impacted in the short term due to the decline in pre-market trading.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Intuitive Surgical's shares declined after the company reported mixed Q3 financial results.
The company's mixed Q3 financial results are likely to negatively impact the stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
MMTEC's shares fell after a significant jump on Thursday.
The stock price is likely to be negatively impacted in the short term due to the significant jump on Thursday followed by a fall.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Sunnova Energy's shares fell after Deutsche Bank downgraded the stock from Buy to Hold and lowered the price target.
Deutsche Bank's downgrade and lowered price target are likely to negatively impact the stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Sunrun's shares declined after Deutsche Bank downgraded the stock from Buy to Hold and lowered the price target.
Deutsche Bank's downgrade and lowered price target are likely to negatively impact the stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
SolarEdge Technologies' shares tumbled after the company issued preliminary Q3 revenue results below estimates and lowered its non-GAAP gross margin forecast. Deutsche Bank downgraded the stock from Buy to Hold and lowered the price target.
The company's lower than expected Q3 revenue results and lowered gross margin forecast, along with the downgrade from Deutsche Bank, are likely to negatively impact the stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
SunPower's shares fell after JP Morgan maintained the company with an Underweight and lowered the price target.
JP Morgan's Underweight rating and lowered price target are likely to negatively impact the stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
WD-40 Company's shares fell after the company issued a weak earnings forecast for FY24.
The company's weak earnings forecast for FY24 is likely to negatively impact the stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100