Victoria's Secret Posts Weak Sales, Joins ADT, Avid Bioservices And Other Big Stocks Moving Lower In Thursday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
Victoria's Secret reported mixed Q4 results with higher earnings but lower sales than expected, leading to a 32.1% drop in pre-market trading. The company also announced a $250 million share repurchase program and provided a full-year 2024 revenue forecast below estimates. Other stocks like Avid Bioservices, Solowin Holdings, ADT Inc., TriplePoint Venture Growth BDC Corp., MMTec, Inc., Dada Nexus Limited, and XPeng Inc. also saw pre-market declines due to various reasons including disappointing financial results, secondary public offerings, and completion of independent reviews.
March 07, 2024 | 9:50 am
News sentiment analysis
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NEGATIVE IMPACT
ADT Inc. shares fell 12.9% in pre-market trading after announcing the pricing of a secondary public offering and a concurrent share repurchase.
ADT Inc.'s pre-market share price decline can be attributed to the market's reaction to its secondary public offering and share repurchase, which may dilute existing shares.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Avid Bioservices shares fell 27.4% in pre-market trading after reporting preliminary Q3 financial results and a $160 million convertible notes placement.
The drop in Avid Bioservices shares is likely due to the market's reaction to its preliminary Q3 financial results and the announcement of a significant convertible notes placement.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Dada Nexus shares fell 5.1% in pre-market trading following the completion of an independent review filed with the SEC.
The decline in Dada Nexus' share price in pre-market trading is likely due to the market's reaction to the completion of an independent review, indicating potential concerns.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 70
NEGATIVE IMPACT
MMTec, Inc. shares slipped 5.6% in pre-market trading after a 4% decline on Wednesday.
The continued decline in MMTec's share price in pre-market trading could indicate ongoing negative sentiment towards the stock.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Solowin Holdings shares dipped 21.3% in pre-market trading after a 135% jump on Wednesday.
The decline in Solowin Holdings' share price in pre-market trading could be a correction following Wednesday's significant jump.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
TriplePoint Venture Growth BDC Corp. shares declined 8% in pre-market trading after reporting worse-than-expected Q4 financial results.
The pre-market decline in TriplePoint's shares is directly related to its disappointing Q4 financial results, indicating a negative short-term impact.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Victoria's Secret reported mixed Q4 results, announced a $250M share repurchase program, and forecasted lower 2024 revenue, causing a 32.1% drop in pre-market trading.
The significant pre-market drop in Victoria's Secret shares is directly related to its mixed Q4 results and lower-than-expected 2024 revenue forecast, indicating a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
XPeng Inc. shares fell 4% in pre-market trading after a 5% gain on Wednesday.
The pre-market decline in XPeng's shares could be a correction following Wednesday's gain, reflecting short-term market volatility.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70