12 Information Technology Stocks Moving In Tuesday's Pre-Market Session
Portfolio Pulse from Benzinga Insights
In Tuesday's pre-market session, several IT stocks showed significant movement. Gainers included Castellum (CTM), Sanmina (SANM), Super Micro Computer (SMCI), F5 (FFIV), Coda Octopus Group (CODA), and Mawson Infra Gr (MIGI) with increases ranging from 6.47% to 17.1%. Losers were Calix (CALX), Infobird Co (IFBD), Cyngn (CYN), Airspan Networks Hldgs (MIMO), SMX (Security Matters), and MicroAlgo (MLGO), with declines between 7.91% and 20.5%. Most movements were associated with the release of quarterly earnings reports.
January 30, 2024 | 1:05 pm
News sentiment analysis
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NEGATIVE IMPACT
Calix's shares dropped by 20.5% to $35.25, with a market cap of $2.3 billion after their Q4 earnings release, indicating a negative market reaction.
The sharp decline in CALX's stock price is a direct response to their Q4 earnings, suggesting a bearish short-term outlook.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Cyngn's shares decreased by 13.09% to $0.22, with a market cap of $11.5 million, reflecting negative investor sentiment or market trends.
The decrease in CYN's stock price in pre-market trading could be due to unfavorable market conditions or investor reactions, suggesting a short-term negative impact.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Infobird Co's stock fell by 15.27% to $0.59, with a market cap of $4.3 million, possibly due to disappointing news or market conditions.
IFBD's stock price decline in pre-market trading may be due to negative investor sentiment or market reactions, indicating a potential short-term negative impact.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Airspan Networks Hldgs' stock fell by 11.43% to $0.25, with a market cap of $18.9 million, likely due to negative market response.
MIMO's pre-market stock decline may be a reaction to market sentiment or specific company news, indicating a potential short-term negative impact.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
MicroAlgo's shares decreased by 7.91% to $0.41, with a market cap of $24.4 million, potentially due to adverse market reactions.
MLGO's stock price decline in pre-market trading may reflect negative market sentiment or specific company factors, indicating a potential short-term negative impact.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
SMX (Security Matters) shares fell by 8.68% to $0.31, with a market cap of $3.2 million, indicating a bearish investor outlook.
The drop in SMX's stock price could be due to negative investor sentiment or broader market trends, suggesting a short-term negative impact.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Coda Octopus Group's stock increased by 7.64% to $5.77, with a market cap of $64.4 million after their Q4 earnings report, indicating investor optimism.
CODA's pre-market stock gain is likely due to a positive earnings report, which could lead to a short-term upward trend in the stock price.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Castellum's stock rose by 17.1% to $0.35 in pre-market trading, with a market cap of $16.6 million, likely due to positive investor sentiment following their earnings release.
The significant pre-market increase in CTM's stock price is likely due to positive reactions to their earnings report, indicating a potential short-term upward trend.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
F5's stock rose by 9.78% to $203.5, with a market cap of $11.9 billion after their Q1 earnings announcement, reflecting positive investor reaction.
The increase in FFIV's stock price can be attributed to the market's favorable response to their Q1 earnings, suggesting a positive short-term impact.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Mawson Infra Gr's stock rose by 6.47% to $2.63, with a market cap of $43.7 million, potentially due to positive market sentiment.
MIGI's stock price increase in pre-market trading may be influenced by general market movements or investor sentiment, suggesting a potential short-term positive impact.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Sanmina's shares increased by 16.35% to $58.91 with a market cap of $3.2 billion after announcing Q1 earnings, suggesting a positive market response to the financial results.
The pre-market rise in SANM's stock is a direct reaction to their Q1 earnings report, indicating investor optimism and a likely short-term positive impact.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Super Micro Computer's stock increased by 13.0% to $560.13, with a market cap of $31.2 billion following their Q2 earnings release, indicating strong investor confidence.
SMCI's stock price surge is likely due to positive investor sentiment following their Q2 earnings, suggesting a bullish short-term outlook.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90