Arista Networks Reports Q4 Results, Joins Teradata, Lattice Semiconductor And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
Arista Networks reported Q4 results with revenue of $1.54 billion, a 20.8% increase year-over-year, beating estimates. Earnings per share were $2.08, also above estimates. The company anticipates Q1 revenue between $1.52 billion and $1.56 billion with adjusted gross margins of about 62%. Shares fell 5.7% in pre-market trading. Other stocks like G1 Therapeutics, Teradata, Lattice Semiconductor, Cadence Design Systems, NaaS Technology, Gates Industrial, Arm Holdings, and Goodyear Tire also saw pre-market losses.
February 13, 2024 | 10:29 am
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NEGATIVE IMPACT
Arista Networks reported higher than expected Q4 revenue and earnings, but shares fell 5.7% in pre-market trading.
Despite beating Q4 estimates, Arista's shares fell, possibly due to market reactions to its future revenue guidance aligning closely with estimates.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Arm Holdings shares fell 4.6% in pre-market trading after a 29% jump on Monday, following strong Q3 results and FY24 guidance.
The pre-market decline in Arm Holdings' shares may be a market correction following Monday's significant jump.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 80
NEGATIVE IMPACT
Cadence Design Systems shares fell 6.7% in pre-market trading after reporting Q4 results and issuing guidance.
The decline in Cadence Design Systems' shares could be attributed to market reactions to its Q4 performance and future outlook.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 80
NEGATIVE IMPACT
Goodyear Tire shares fell 2.4% in pre-market trading following its fourth-quarter results.
The decline in Goodyear Tire's shares could be due to investor reactions to its Q4 earnings report.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
Gates Industrial shares fell 4.7% in pre-market trading after announcing a secondary offering of 17,500,000 ordinary shares.
The drop in Gates Industrial's shares is likely due to the dilutive effect of the secondary offering on existing shareholders.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 80
NEGATIVE IMPACT
G1 Therapeutics shares dipped 37.5% in pre-market trading after announcing the continuation of a Phase 3 trial.
The significant drop in G1 Therapeutics' shares could be due to investor concerns over the continuation of the Phase 3 trial.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 80
NEGATIVE IMPACT
Lattice Semiconductor shares dipped 8.3% after mixed Q4 results and below-estimate Q1 revenue guidance.
The pre-market drop in Lattice Semiconductor's shares is likely due to its mixed Q4 results and disappointing Q1 revenue guidance.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 80
NEGATIVE IMPACT
NaaS Technology shares declined 5.4% in pre-market trading after a 6% drop on Monday.
The continued decline in NaaS Technology's shares may reflect ongoing investor concerns or market trends.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
Teradata shares fell 14% in pre-market trading after issuing weak earnings guidance despite better-than-expected Q4 results.
Investors likely reacted negatively to Teradata's weak earnings guidance, overshadowing its Q4 performance.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 80