Oddity Tech Posts Q4 Results, Joins Ross Stores And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
Oddity Tech Ltd. (ODD) reported Q4 earnings below expectations and issued FY24 EPS guidance below estimates, causing its shares to fall 10.4% in pre-market trading. Other stocks also moved lower, including Entravision Communications (EVC), Grifols (GRFS), SOPHiA GENETICS (SOPH), Golden Ocean Group (GOGL), Benchmark Electronics (BHE), Digital World Acquisition Corp. (DWAC), and Ross Stores (ROST), with various reasons including poor earnings reports and significant business changes.
March 06, 2024 | 10:00 am
News sentiment analysis
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NEGATIVE IMPACT
Benchmark Electronics slipped 4.2% in pre-market trading.
The pre-market decline in Benchmark Electronics' stock suggests a negative short-term outlook, though the article does not specify the cause.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Digital World Acquisition Corp. fell 4.1% in pre-market trading.
The pre-market drop in DWAC's stock indicates a negative short-term impact, though the specific reasons are not detailed in the article.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Entravision Communications shares plummeted 50.1% pre-market after Meta announced it would end its ASP program, which is a significant revenue source for Entravision.
The drastic pre-market drop in Entravision's stock is due to Meta's decision to end its ASP program, a critical revenue source for Entravision, suggesting a severe short-term impact.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100
NEGATIVE IMPACT
Golden Ocean Group declined 4.4% in pre-market trading despite reporting better-than-expected Q4 financial results.
Despite positive Q4 results, Golden Ocean Group's stock declined, possibly due to broader market conditions or profit-taking, indicating a short-term negative impact.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Grifols shares dipped 10.4% in pre-market trading, continuing a decline from the previous day.
Grifols' continued pre-market decline follows a previous day's drop, indicating negative market sentiment and a bearish short-term outlook.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Oddity Tech reported lower than expected Q4 earnings and issued weak FY24 guidance, leading to a 10.4% drop in pre-market trading.
The significant drop in Oddity Tech's stock price is directly related to its disappointing Q4 earnings and weak FY24 guidance, indicating a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Ross Stores fell 1.8% in pre-market trading following its Q4 results.
Ross Stores' pre-market decline is directly related to its Q4 results, suggesting a negative short-term impact on the stock.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
SOPHiA GENETICS fell 6.4% pre-market after reporting worse than expected Q4 earnings and issuing 2024 guidance.
SOPHiA GENETICS' pre-market drop is due to its poor Q4 performance and less optimistic 2024 guidance, suggesting a negative short-term impact.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90