Logitech Posts Q3 Results, Joins Coinbase And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
Logitech International S.A. (LOGI) reported Q3 earnings of $1.53 per share, beating estimates of $1.17 per share, with sales matching expectations at $1.25 billion. However, the company expects an annual sales decline of 6-7%, better than previous estimates of 9-12%. LOGI shares fell 7.4% in pre-market trading. Other stocks like SGMT, ARCT, COIN, CLSK, MARA, TBPH, and BITF also recorded losses in pre-market trading, with several declining due to Bitcoin's weakness.
January 23, 2024 | 10:04 am
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NEGATIVE IMPACT
Arcturus Therapeutics shares fell 5% in pre-market trading after a 4% gain on Monday.
The drop could be a natural pullback after the previous day's rise.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Bitfarms shares slipped 3.3% in pre-market trading due to Bitcoin's price decline.
Bitfarms' stock is sensitive to the cryptocurrency market, and a decrease in Bitcoin's price can negatively impact its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
CleanSpark shares fell 3.7% in pre-market trading due to Bitcoin's price drop.
As a company involved in Bitcoin mining, CleanSpark is affected by changes in Bitcoin's market price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Coinbase shares declined 4.4% in pre-market trading amid Bitcoin's weakness.
Coinbase's stock is closely tied to cryptocurrency market movements, particularly Bitcoin's price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Logitech beat Q3 earnings estimates but expects a smaller annual sales decline. Shares dropped 7.4% in pre-market trading.
Despite beating earnings estimates, the forecasted sales decline is likely to concern investors, leading to a negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Marathon Digital shares declined 3.6% in pre-market trading with Bitcoin's price weakness.
Marathon Digital Holdings' performance is often correlated with the cryptocurrency market, particularly Bitcoin.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Sagimet Biosciences shares fell 6.4% in pre-market trading after a significant rise the previous day due to positive clinical trial results.
The pre-market decline may be a correction following the previous day's substantial gain.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Theravance Biopharma shares fell 3.4% in pre-market trading.
The article does not provide specific reasons for the decline, so the impact is based on the reported pre-market movement.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50