Etsy Reports Downbeat Earnings, Joins Fastly, DoorDash And Other Big Stocks Moving Lower In Thursday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
Etsy, Inc. reported lower-than-expected Q1 financial results, leading to a 13.2% drop in pre-market trading. Other companies like Fastly, Freshworks, Remitly Global, DoorDash, CytomX Therapeutics, Wolfspeed, Qorvo, Paycom Software, Hudson Technologies, Appian Corp, Zillow Group, Schrodinger, Prudential Financial, and eBay also saw declines in pre-market trading due to various reasons including disappointing financial results, weak guidance, and CEO transitions.
May 02, 2024 | 12:17 pm
News sentiment analysis
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NEGATIVE IMPACT
DoorDash shares dipped 12.5% pre-market after reporting mixed Q1 financial results.
DoorDash's mixed Q1 financial results lead to negative investor sentiment and a decline in stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Etsy's shares fell 13.2% in pre-market trading after reporting Q1 revenue and earnings below estimates.
Etsy's significant miss on both top and bottom line expectations directly impacts investor sentiment and stock price, leading to a sharp decline.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Freshworks shares tumbled 28.6% after Q1 results and a CEO transition, with a downgrade from Baird.
Freshworks' stock decline is driven by its Q1 performance and CEO transition, compounded by a significant analyst downgrade.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 85
NEGATIVE IMPACT
Fastly's shares dipped 31.8% after reporting Q1 financial results and weak Q2 revenue guidance.
The significant pre-market drop is due to Fastly's disappointing Q1 performance and lower-than-expected Q2 revenue guidance, affecting investor confidence.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90