Apple Reports Q1 Results, Joins Skechers, Atlassian And Other Big Stocks Moving Lower In Friday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
Apple Inc. reported better-than-expected Q1 earnings and revenue, with shares falling 2.5% in pre-market trading. Other stocks like Skechers, Atlassian, Eve Holding, Mitek Systems, GigaCloud Technology, and Microchip Technology also recorded losses in pre-market trading due to various reasons including mixed financial results and weak forecasts.
February 02, 2024 | 10:28 am
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NEGATIVE IMPACT
Apple Inc. reported better-than-expected Q1 earnings and revenue but saw a 2.5% decline in pre-market trading.
Despite surpassing earnings and revenue expectations, Apple's stock declined, likely due to the revenue decline in China, impacting investor sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Eve Holding, Inc. shares fell 3.1% in pre-market trading after a 5% decline on Thursday.
The continued decline in Eve Holding's stock price, including a 3.1% drop in pre-market trading, reflects ongoing negative sentiment.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
GigaCloud Technology Inc. shares fell 2.8% in pre-market trading after jumping 11% on Thursday.
The pre-market drop in GigaCloud Technology's stock price follows a significant surge the previous day, showing market correction.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Microchip Technology Incorporated shares declined 2.5% in pre-market trading after issuing a weak forecast for Q4.
The weak forecast for Q4 led to a decrease in Microchip Technology's stock price in pre-market trading.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Mitek Systems, Inc. shares declined 2.9% in pre-market trading after gaining 3% on Thursday.
The pre-market decline in Mitek Systems' stock price comes after a gain the previous day, indicating volatility.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Skechers shares fell 10.9% in pre-market trading after reporting mixed Q4 financial results.
The mixed financial results for Q4 led to a significant drop in Skechers' stock price in pre-market trading.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Atlassian Corporation shares declined 7.4% in pre-market trading after reporting Q2 financial results.
The announcement of Q2 financial results caused a notable decrease in Atlassian's stock price in pre-market trading.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90