DLocal, Allogene Therapeutics And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
Several major stocks are experiencing declines in Wednesday's pre-market session. DLocal Limited (NASDAQ:DLO) saw a significant drop after reporting weaker-than-expected earnings. Other notable declines include SunPower Corporation (NASDAQ:SPWR), Allogene Therapeutics, Inc. (NASDAQ:ALLO), Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR), MMTec, Inc. (NASDAQ:MTC), Rackspace Technology, Inc. (NASDAQ:RXT), Virgin Galactic Holdings, Inc. (NYSE:SPCE), and AC Immune SA (NASDAQ:ACIU).
May 15, 2024 | 10:12 am
News sentiment analysis
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NEGATIVE IMPACT
AC Immune SA (NASDAQ:ACIU) shares declined 6.2% to $3.36 in pre-market trading after gaining over 8% on Tuesday following the company's first-quarter financial results.
The decline is likely due to profit-taking following a positive reaction to the company's Q1 results.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Allogene Therapeutics, Inc. (NASDAQ:ALLO) shares declined 8.8% to $2.70 in pre-market trading after filing for an offering of up to 37.93 million shares of common stock.
The decline is likely due to dilution concerns from the large stock offering.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
DLocal Limited (NASDAQ:DLO) shares fell 26.6% in pre-market trading after reporting weaker-than-expected first-quarter earnings and indicating a likelihood of hitting the lower end of its guidance range.
DLocal's significant earnings miss and lower guidance have led to a sharp decline in its stock price, indicating negative investor sentiment.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
MMTec, Inc. (NASDAQ:MTC) shares declined 7% to $8.28 in pre-market trading after surging 84% on Tuesday.
The decline is likely due to profit-taking following a significant surge.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) shares fell 8.6% to $15.25 in pre-market trading after the CEO was fired by Brazil's President.
The firing of the CEO has likely caused uncertainty and concern among investors, leading to a decline in the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 85
NEGATIVE IMPACT
Rackspace Technology, Inc. (NASDAQ:RXT) shares fell 6.8% to $1.93 in pre-market trading after reporting first-quarter results and issuing guidance for the second quarter.
The decline is likely due to investor reaction to the company's Q1 results and Q2 guidance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
Virgin Galactic Holdings, Inc. (NYSE:SPCE) shares fell 6.3% to $1.19 in pre-market trading following a 22% surge on Tuesday.
The decline is likely due to profit-taking following a significant surge.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
SunPower Corporation (NASDAQ:SPWR) shares fell 10.6% to $3.93 in pre-market trading after a 60% surge on Tuesday.
The sharp decline follows a significant surge, likely due to profit-taking by investors.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80