Why StoneCo Shares Are Trading Higher By Over 6%; Here Are 20 Stocks Moving Premarket
Portfolio Pulse from Lisa Levin
StoneCo Ltd. (NASDAQ:STNE) shares increased by over 6% in pre-market trading following the company's third-quarter earnings report, which surpassed market expectations. StoneCo reported adjusted earnings of 27 cents per share against the estimated 22 cents, with sales of $643.35 million exceeding the forecast of $610.17 million. Other stocks also showed pre-market movements, with notable gainers including SenesTech, Inc. (NASDAQ:SNES), Collective Audience, Inc. (NASDAQ:CAUD), and Tivic Health Systems, Inc. (NASDAQ:TIVC), among others. Conversely, several stocks were trading lower, such as Monopar Therapeutics (NASDAQ:MNPR), eFFECTOR Therapeutics, Inc. (NASDAQ:EFTR), and Motus GI Holdings, Inc. (NASDAQ:MOTS).
November 13, 2023 | 1:24 pm
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POSITIVE IMPACT
SenesTech, Inc. shares increased by 81.3% in pre-market trading, recovering from a 31% drop after reporting worse-than-expected Q3 revenue.
A significant pre-market increase may indicate a rebound from the previous session's losses, potentially due to investors seeing an opportunity to buy at a lower price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 70
POSITIVE IMPACT
StoneCo Ltd. reported higher than expected Q3 earnings and sales, leading to a 6.3% rise in pre-market trading.
Positive earnings reports typically lead to an increase in investor confidence and can result in a short-term rise in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Monopar Therapeutics (NASDAQ:MNPR) shares dipped 23.7% in pre-market trading despite posting a narrower-than-expected quarterly loss last week.
The pre-market decline could suggest that the narrower loss was already priced in or overshadowed by other concerns among investors.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 70