DLocal Posts Weak Results, Joins HP, Autodesk And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session
Portfolio Pulse from Lisa Levin
DLocal Limited reported lower-than-expected Q3 earnings and sales, reaffirmed FY23 revenue guidance below estimates, and announced the CFO's departure, causing shares to drop 12.9% in pre-market. Other stocks experiencing pre-market losses include Guess?, The Beachbody Company, Gaotu Techedu, Virgin Galactic, Autodesk, MorphoSys, Symbotic, and HP Inc. Reasons for declines vary from disappointing financial results to company-specific news such as reverse stock splits and study results.
November 22, 2023 | 11:05 am
News sentiment analysis
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NEGATIVE IMPACT
Despite reporting upbeat Q3 results, Autodesk's stock fell 5.3% in pre-market trading.
The pre-market decline may be due to factors not specified in the article, as the company reported positive results.
CONFIDENCE 65
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
The Beachbody Company's stock fell 16.2% in pre-market trading following the completion of a 1-for-50 reverse stock split.
Reverse stock splits often lead to negative investor perception in the short term, potentially reducing the stock's value.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
DLocal's Q3 earnings and sales fell short of market expectations, and the company reaffirmed FY23 revenue guidance below estimates. Additionally, the CFO resigned, contributing to a 12.9% pre-market stock drop.
The combination of disappointing earnings, lower revenue guidance, and the CFO's departure are significant negative factors likely to impact investor sentiment and the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Guess? Inc. reported worse-than-expected Q3 financial results and issued Q4 adjusted EPS guidance below estimates, leading to a 15.2% pre-market stock decline.
Poor Q3 performance and pessimistic Q4 guidance are likely to negatively affect the stock price in the short term as investors adjust their expectations.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Gaotu Techedu's shares decreased by 7.4% in pre-market trading after announcing Q3 results.
The market's reaction to the Q3 results suggests a negative sentiment that could lead to a short-term decline in the stock price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
HP Inc. reported a 6.5% revenue decline for Q4 and provided Q1 earnings guidance, resulting in a 2.3% pre-market stock decrease.
The reported revenue decline and the provided guidance may not have met investor expectations, leading to a negative impact on the stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
MorphoSys shares fell 4.4% in pre-market after a 22% drop the previous day, following topline results from a Phase 3 study.
The negative reaction to the Phase 3 study results could further impact the stock price negatively in the short term.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Virgin Galactic Holdings saw a 5.6% pre-market decline, continuing its previous day's 5% loss.
The continuation of a downward trend from the previous day indicates ongoing negative market sentiment towards the stock.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Symbotic Inc. experienced a 3.7% pre-market drop after a significant 40% gain the previous day due to better-than-expected Q4 sales results.
The pre-market decline could be a correction following the previous day's large gain.
CONFIDENCE 65
IMPORTANCE 55
RELEVANCE 60