12 Information Technology Stocks Moving In Thursday's Pre-Market Session
Portfolio Pulse from Benzinga Insights
In Thursday's pre-market session, several information technology stocks showed significant movement. AppLovin and HubSpot were among the gainers, with their stocks rising by 15.1% and 8.8% respectively, following their Q1 earnings reports. NOVONIX, Pagaya Techs, XIAO-I, and CISO Global also saw upward movements. On the downside, EMCORE, Cerence, EPAM Systems, X3 Holdings, Allegro Microsystems, and PAR Technology experienced declines, with EMCORE dropping by 38.6% after its Q2 earnings report. The movements were largely earnings-driven.
May 09, 2024 | 12:06 pm
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NEGATIVE IMPACT
Cerence's stock fell by 16.58% to $7.98 after the Q2 earnings report was published.
A decline in stock price following an earnings report often reflects investor disappointment or concerns over the company's performance and future outlook.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
EMCORE's shares plummeted by 38.6% to $1.78 in pre-market trading after its Q2 earnings were released.
Negative earnings reports can lead to a sharp decline in stock price as investors adjust their expectations based on the company's reported financial health.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 90
NEGATIVE IMPACT
EPAM Systems experienced a 14.15% decrease in stock price to $213.95 following its Q1 earnings announcement.
Stock prices can fall as a result of earnings reports that fail to meet investor expectations, indicating potential concerns about the company's profitability or growth.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
AppLovin's stock rose by 15.1% to $85.18 in pre-market trading following its Q1 earnings report.
Positive earnings reports typically lead to an increase in stock price due to heightened investor confidence and perceived company growth.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
HubSpot's stock increased by 8.8% to $642.0 following its Q1 earnings announcement.
Stock prices often rise following a positive earnings report, reflecting investor optimism about the company's financial health and future prospects.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90