DXC Technology Issues Weak Outlook, Joins Take-Two Interactive And Other Big Stocks Moving Lower In Friday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
DXC Technology issued weak guidance, causing its shares to fall sharply in pre-market trading. Other stocks like Cracker Barrel, Tellurian, Erasca, AST SpaceMobile, iQIYI, Ocugen, and Take-Two Interactive also recorded losses.
May 17, 2024 | 9:34 am
News sentiment analysis
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NEGATIVE IMPACT
AST SpaceMobile shares declined 5.7% after a significant jump of 69% the previous day.
The decline could be a correction after the significant jump in share price the previous day.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Cracker Barrel shares tumbled 11% after the company reduced its dividend and issued lower-than-expected Q3 and Q4 guidance.
The reduction in dividend and lower guidance for upcoming quarters negatively impacted investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80
NEGATIVE IMPACT
DXC Technology shares fell 22.3% in pre-market trading after issuing weak fiscal year 2025 guidance, despite beating quarterly earnings and sales estimates.
The weak guidance for FY25 significantly underperformed market expectations, leading to a sharp decline in the stock price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Erasca shares fell 6.5% after pricing its underwritten offering of common stock at $1.85 per share.
The pricing of the underwritten offering likely led to the decline in share price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
iQIYI shares slipped 3.6% after gaining 12% the previous day.
The decline could be a correction following the significant gain the previous day.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Ocugen shares declined 3.1% in pre-market trading.
The decline in share price could be due to broader market trends or company-specific issues not detailed in the article.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Tellurian shares declined 8.2% in pre-market trading.
The decline in share price could be due to broader market trends or company-specific issues not detailed in the article.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Take-Two Interactive shares fell 2.6% after reporting Q4 earnings and issuing FY25 guidance, and narrowing the GTA VI release window to fall 2025.
The decline in share price could be due to investor reaction to the earnings report and guidance, as well as the narrowed release window for GTA VI.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70