MillerKnoll Posts Weak Sales, Joins Chemours, Rumble And Other Big Stocks Moving Lower In Thursday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
MillerKnoll reported lower-than-expected sales for Q3 and weak Q4 guidance, causing its shares to drop 17.4% in pre-market trading. Other stocks like GCT Semiconductor, Chemours, E.W. Scripps, Better Home & Finance, Reddit, Rumble, and Petco also saw pre-market declines due to various reasons including disappointing quarterly results, changes in stock index composition, and concerns over business models.
March 28, 2024 | 9:25 am
News sentiment analysis
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NEGATIVE IMPACT
Better Home & Finance shares fell 5% in pre-market trading after a 5% gain on Wednesday.
The pre-market decline in Better Home & Finance shares follows a previous day's gain, indicating a correction or volatility in its short-term stock performance.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Chemours shares fell 10% in pre-market trading after reporting Q4 results and disclosing material weaknesses.
Chemours' pre-market decline is due to its Q4 results and the disclosure of material weaknesses, indicating a negative short-term impact on its stock.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 80
NEGATIVE IMPACT
GCT Semiconductor's shares tumbled 21.2% amid volatility following its business combination and NYSE debut.
GCT Semiconductor's significant pre-market drop is attributed to volatility following its recent business combination and NYSE debut, suggesting a negative short-term outlook.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 80
NEGATIVE IMPACT
MillerKnoll's shares fell 17.4% in pre-market trading due to disappointing Q3 sales and weak Q4 guidance.
The significant drop in MillerKnoll's share price is directly related to its disappointing quarterly sales and weak future guidance, indicating potential short-term negative impact on its stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Reddit shares fell 4.7% pre-market after an 11% decline on Wednesday amid concerns over its advertising model.
Reddit's continued pre-market decline, driven by concerns over its advertising model, suggests a negative short-term outlook for its stock.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 70
NEGATIVE IMPACT
Rumble shares declined 4.2% pre-market following downbeat quarterly sales.
Rumble's pre-market decline is directly related to its disappointing quarterly sales, indicating a negative short-term impact on its stock.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 70
NEGATIVE IMPACT
E.W. Scripps shares declined 5.3% pre-market as it will be replaced in the S&P SmallCap 600 by Fox Factory Holding.
E.W. Scripps' pre-market decline is linked to its replacement in the S&P SmallCap 600, potentially affecting investor perception and its short-term stock performance.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 70
NEGATIVE IMPACT
Petco shares fell 3.7% in pre-market trading after a 16% surge on Wednesday.
Petco's pre-market decline after a significant previous day's gain suggests a correction or volatility in its short-term stock performance.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 60