Sprinklr Reports Downbeat Earnings, Joins Chewy, GameStop And Other Big Stocks Moving Lower In Thursday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
Sprinklr, Inc. reported Q3 earnings of 6 cents per share, missing estimates by 1 cent, despite beating sales expectations with $186.32 million. The stock fell 20.4% in pre-market trading. Other stocks experiencing pre-market losses include Wave Life Sciences, Nikola Corporation, Chewy, C3.ai, GameStop, 89bio, MorphoSys AG, and Veeva Systems, each for various reasons such as financial results, public offerings, and guidance updates.
December 07, 2023 | 10:27 am
News sentiment analysis
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NEGATIVE IMPACT
C3.ai's mixed Q2 financial results and issued guidance caused a 9.9% drop in pre-market trading.
Investors often react negatively to mixed financial results and uncertain guidance, leading to a decrease in stock price.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Chewy reported mixed Q3 results and cut FY23 net sales guidance, leading to an 11.1% decline in pre-market trading.
Mixed financial results and lowered future guidance are negative signals for investors, often resulting in a stock price drop.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Sprinklr missed Q3 EPS estimates by 1 cent, causing a 20.4% drop in pre-market trading.
Earnings misses typically result in negative investor sentiment and immediate stock price declines, as evidenced by the pre-market drop.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
89bio announced a proposed underwritten public offering, causing a 6.7% fall in pre-market trading.
The announcement of a public offering can lead to concerns about share dilution, negatively affecting the stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
GameStop reported Q3 results, resulting in a 7.4% decrease in pre-market trading.
Q3 results can influence investor sentiment, and a negative reaction is often reflected in the stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
MorphoSys shares continued to decline, falling 4.6% in pre-market trading after a 5% drop on Wednesday.
A continuation of a stock's decline often indicates sustained negative sentiment among investors.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
Nikola Corporation's stock fell 15.5% pre-market due to proposed offerings of common stock and convertible senior notes.
The announcement of new stock and note offerings typically leads to concerns about dilution and debt, negatively impacting the stock price.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Veeva Systems reported Q3 financial results and issued guidance, leading to a 3.1% pre-market decline.
Financial results and guidance can impact investor expectations and stock price, with negative reactions leading to declines.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Wave Life Sciences shares dropped 21.7% pre-market after announcing a proposed public offering.
Public offerings often dilute share value and can lead to short-term price declines.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90