Scholastic Posts Downbeat Earnings, Joins Lennar And Other Big Stocks Moving Lower In Friday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
Scholastic Corporation reported Q2 earnings of $2.45 per share, missing estimates of $2.65, with revenue of $562.60 million also below expectations of $625.22 million. The company revised its full-year 2024 adjusted EBITDA forecast down and approved an additional $66 million for share repurchases. Scholastic shares fell 12.6% in pre-market trading. Other stocks experiencing pre-market losses include Lufax Holding, Eos Energy Enterprises, Ready Capital Corporation, Sumitomo Mitsui Financial Group, New Oriental Education & Technology Group, Lennar Corporation, and Hawaiian Holdings.
December 15, 2023 | 11:11 am
News sentiment analysis
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NEGATIVE IMPACT
New Oriental Education & Technology Group shares declined 3.6% to $76.58 in pre-market trading.
The stock is experiencing a pre-market decline, which may reflect short-term negative sentiment.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Eos Energy Enterprises shares declined 19.5% to $1.35 in pre-market after announcing a $50 million public offering.
The pricing of a public offering can dilute existing shares, often leading to a negative short-term price impact.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 80
NEGATIVE IMPACT
Hawaiian Holdings shares declined 3% to $13.21 in pre-market trading.
The stock is down in pre-market trading, indicating a potential negative short-term impact, though the reason is not specified.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Lennar Corporation shares fell 3.3% to $149.77 in pre-market trading, despite reporting better-than-expected earnings for its fourth quarter and providing net orders guidance for the current quarter.
The stock decline following positive earnings may be due to other market factors or investor expectations for future performance.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Lufax Holding shares dropped 44.5% to $2.11 in pre-market trading.
A significant pre-market drop indicates strong negative investor sentiment, which could continue into the short term.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 80
NEGATIVE IMPACT
Ready Capital Corporation shares fell 5.4% to $10.85 in pre-market trading after declaring a quarterly cash dividend of 30 cents per share.
The share price drop could be due to factors other than the dividend announcement, as dividends are generally seen as positive.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Scholastic reported lower-than-expected Q2 earnings and revenue, revised its full-year 2024 adjusted EBITDA forecast downwards, and approved additional funds for share repurchases. Shares fell 12.6% in pre-market trading.
The earnings miss and lowered guidance are significant negative indicators for investor sentiment and are likely to lead to a short-term decline in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Sumitomo Mitsui Financial Group shares fell 4.1% to $9.57 in pre-market trading.
The pre-market decline indicates negative sentiment, but without specific news, the impact is less clear.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70