Henry Schein, Verve Therapeutics And Other Big Stocks Moving Lower In Monday's Pre-Market Session
Portfolio Pulse from Lisa Levin
In Monday's pre-market session, U.S. stock futures were mostly lower, with Nasdaq futures down about 50 points. Verve Therapeutics (VERV) shares dropped after announcing first human proof-of-concept data for VERVE-101, despite a narrower Q3 loss. Plug Power (PLUG) tumbled following poor Q3 results and a going concern warning. Instacart (CART) declined after a previous gain, despite increased Q3 revenue. Henry Schein (HSIC) fell post Q3 results. ICL Group (ICL) dropped even with better-than-expected earnings. Hut 8 Mining (HUT) saw a decline amidst merger progress with US Bitcoin Corp. Microvast Holdings (MVST) decreased despite beating revenue estimates. AudioCodes (AUDC) also fell in pre-market trading.
November 13, 2023 | 11:12 am
News sentiment analysis
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NEGATIVE IMPACT
AudioCodes shares fell in pre-market trading, continuing the trend of declines among the mentioned stocks.
The pre-market decline in AUDC shares may be part of a broader market downturn, as no specific news was mentioned to justify the drop.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Instacart shares declined after a previous gain, despite reporting increased Q3 revenue.
Despite the increase in Q3 revenue, the decline in CART shares suggests that other factors may be influencing investor sentiment negatively.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Henry Schein shares fell in pre-market trading following the release of their third-quarter results.
The drop in HSIC shares post Q3 results suggests that the results may have fallen short of market expectations.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Hut 8 Mining shares fell as it moves forward with its all-stock merger with US Bitcoin Corp.
The fall in HUT shares could be due to investor uncertainty regarding the merger's terms and future prospects.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
ICL Group shares dropped in pre-market trading despite posting better-than-expected quarterly earnings.
The decline in ICL shares despite positive earnings indicates that other market forces or investor expectations may be at play.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 70
NEGATIVE IMPACT
Microvast Holdings fell in pre-market trading despite reporting a revenue increase and beating estimates.
Microvast's stock decline despite beating revenue estimates suggests that investors might have concerns about profitability or future growth.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 70
NEGATIVE IMPACT
Plug Power shares tumbled after reporting disappointing Q3 results and a going concern warning.
The poor Q3 results combined with a going concern warning are significant negative indicators for investor confidence, likely leading to a drop in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 90
NEGATIVE IMPACT
Verve Therapeutics shares fell after announcing first human proof-of-concept data for VERVE-101, despite a narrower Q3 loss.
The decline in VERV shares indicates that the market may have had higher expectations for the proof-of-concept data, overshadowing the narrower Q3 loss.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90