Apple, Coinbase Global, Fortinet And Other Big Stocks Moving Lower In Friday's Pre-Market Session
Portfolio Pulse from Lisa Levin
Several US stocks traded lower in Friday's pre-market session. BILL Holdings Inc shares tumbled 33.6% after the company reported Q1 results and lowered its FY24 revenue outlook. Fortinet Inc shares declined 24% after reporting mixed Q3 results and issuing FY23 revenue guidance below estimates. Fox Factory Holding Corp shares dipped 17.1% after reporting downbeat Q3 results and a weak Q4 forecast. Other companies that saw a decline in shares include reAlpha Tech Corp, Lumen Technologies Inc, Opendoor Technologies Inc, Alpine Immune Sciences Inc, Zscaler Inc, Palo Alto Networks Inc, Apple Inc, and Coinbase Global Inc.
November 03, 2023 | 9:20 am
News sentiment analysis
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NEGATIVE IMPACT
Apple Inc shares fell 3.3% in pre-market trading. Apple reported stronger-than-expected earnings and sales results for its fourth quarter on Thursday. However, the company’s iPhone revenue came in slightly shy of expectations.
Despite stronger-than-expected earnings and sales results for Q4, Apple's shares fell due to iPhone revenue coming in slightly shy of expectations.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
BILL Holdings Inc shares tumbled 33.6% after the company reported Q1 results and lowered its FY24 revenue outlook.
The company's lowered revenue outlook for FY24 has negatively impacted investor sentiment, leading to a significant drop in the stock price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Coinbase Global Inc shares fell 3% in pre-market trading after the company reported third-quarter financial results.
The company's Q3 financial results have negatively impacted investor sentiment, leading to a drop in the stock price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Fox Factory Holding Corp shares dipped 17.1% after reporting downbeat Q3 results and a weak Q4 forecast.
The company's weak Q3 results and Q4 forecast have negatively impacted investor sentiment, leading to a significant drop in the stock price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Fortinet Inc shares declined 24% after reporting mixed Q3 results and issuing FY23 revenue guidance below estimates.
The company's lower than expected revenue guidance for FY23 has negatively impacted investor sentiment, leading to a significant drop in the stock price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100