Zscaler Posts Q1 Results, Joins argenx, Cool Company And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session
Portfolio Pulse from Lisa Levin
Zscaler, Inc. (NASDAQ:ZS) reported positive Q1 results and provided strong FY24 guidance, appointing new chief revenue officer and president of global sales, Mike Rich, and chief marketing officer, Joyce Kim. Despite this, Zscaler shares dropped 6.3% in pre-market trading. Other stocks experiencing pre-market losses include argenx SE (NASDAQ:ARGX), Cool Company Ltd. (NYSE:CLCO), AMTD Digital Inc. (NYSE:HKD), MorphoSys AG (NASDAQ:MOR), Edwards Lifesciences Corporation (NYSE:EW), and UiPath Inc. (NYSE:PATH).
November 28, 2023 | 10:47 am
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NEGATIVE IMPACT
argenx shares dropped 14.4% in pre-market trading after reporting topline results from a study of VYVGART hytrulo in primary immune thrombocytopenia.
The significant pre-market drop in argenx's stock price indicates a negative short-term impact, likely due to the market's reaction to the topline study results.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Cool Company Ltd. shares fell 8.4% in pre-market trading after releasing Q3 results.
The pre-market decline in Cool Company's shares suggests a negative short-term impact, potentially due to disappointing Q3 results.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Edwards Lifesciences Corporation shares declined 2.9% in pre-market trading.
The pre-market drop in Edwards Lifesciences's stock price suggests a negative short-term impact, though the article does not specify the cause.
CONFIDENCE 60
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
AMTD Digital Inc. shares fell 6% in pre-market trading after a 12% gain on Monday, following the launch of L'Officiel Hong Kong.
The pre-market drop in AMTD Digital's stock price could be a correction following Monday's gain, despite the recent launch of L'Officiel Hong Kong.
CONFIDENCE 70
IMPORTANCE 65
RELEVANCE 70
NEGATIVE IMPACT
MorphoSys AG shares fell 2.9% in pre-market trading after a 10% surge on Monday.
The pre-market decline in MorphoSys's stock price may reflect a short-term pullback following the previous day's significant rise.
CONFIDENCE 65
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
UiPath Inc. shares fell 2% in pre-market trading ahead of its Q3 fiscal 2024 financial results announcement on Nov. 30, 2023.
The pre-market decline in UiPath's stock price could be due to investor caution ahead of the upcoming Q3 financial results announcement.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
Zscaler reported positive Q1 results, strong FY24 guidance, and announced key executive appointments, yet shares fell 6.3% in pre-market trading.
Despite the positive earnings report and strong guidance, the pre-market decline in Zscaler's stock price suggests a negative short-term impact, possibly due to market expectations being higher than the reported results.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100