Why Ross Stores Shares Are Trading Higher By Over 8%; Here Are 20 Stocks Moving Premarket
Portfolio Pulse from Avi Kapoor
Ross Stores, Inc. (NASDAQ:ROST) shares surged over 8% in pre-market trading after reporting better-than-expected earnings and raising its profit forecast. The company posted quarterly revenue of $4.858 billion and earnings of $1.46 per share, surpassing estimates. Other notable pre-market movers include Netcapital Inc. (NASDAQ:NCPL), Akanda Corp. (NASDAQ:AKAN), and Workday, Inc. (NASDAQ:WDAY).
May 24, 2024 | 12:22 pm
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NEGATIVE IMPACT
Intuit shares fell 6.3% in pre-market trading despite better-than-expected earnings, due to weak earnings guidance for the current quarter.
The weak earnings guidance for the current quarter has negatively impacted investor sentiment, leading to a decline in share price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
Workday shares declined 12.4% in pre-market trading despite posting upbeat earnings, due to lowered forward guidance.
The decline in share price is attributed to the company's lowered forward guidance, overshadowing the positive earnings report.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 70
POSITIVE IMPACT
Akanda Corp. shares gained 99.2% in pre-market trading after a 35% dip on Thursday.
The sharp rebound in pre-market trading indicates a recovery from the previous day's significant decline.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Netcapital Inc. shares rose 105.2% in pre-market trading after a 15% increase on Thursday.
The significant pre-market price increase suggests strong investor interest, likely driven by recent positive momentum.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Ross Stores shares surged over 8% in pre-market trading after the company reported better-than-expected earnings and raised its profit forecast for the year.
The better-than-expected earnings and increased profit forecast are strong positive indicators for Ross Stores, leading to a significant pre-market price increase.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100