Exact Sciences Reports Q1 Loss, Joins Beyond Meat, Duolingo And Other Big Stocks Moving Lower In Thursday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
Exact Sciences reported a Q1 loss with shares falling 17.4% in pre-market trading, alongside other significant pre-market movers including Cardlytics, Delta Apparel, Bioventus, Beyond Meat, Duolingo, SolarEdge Technologies, Arm Holdings, Airbnb, Vanda Pharmaceuticals, argenx SE, LifeMD, Forward Air Corporation, and HubSpot, all experiencing declines after reporting their financial results.
May 09, 2024 | 9:49 am
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NEGATIVE IMPACT
Beyond Meat shares declined 13.4% to $7.11 in pre-market trading after reporting a wider-than-expected Q1 loss and providing revenue guidance.
Beyond Meat's pre-market stock decline is due to its wider-than-expected Q1 loss and future revenue projections, which may have disappointed investors.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Cardlytics shares tumbled 28.8% to $10.40 in pre-market trading after reporting mixed Q1 financial results.
Cardlytics' significant pre-market drop is a reaction to its mixed Q1 financial results, indicating investor concerns over the company's performance.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Delta Apparel shares declined 23.5% to $2.15 in pre-market trading following weaker-than-expected Q2 results.
Delta Apparel's pre-market decline is attributed to its Q2 results falling short of expectations, signaling potential challenges ahead.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Duolingo shares dipped 12.4% to $213.95 in pre-market trading after reporting Q1 financial results.
Duolingo's pre-market share decline follows its Q1 financial results announcement, indicating investor reaction to the company's performance.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Exact Sciences reported a Q1 loss per share of 60 cents, missing estimates, with revenue up 6% YOY to $638 million, beating consensus. Shares fell 17.4% to $49.15 in pre-market.
The significant pre-market drop in EXAS shares is directly related to its Q1 loss exceeding analyst expectations, despite beating revenue estimates. The negative earnings surprise typically leads to short-term price declines.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100