Levi Strauss Posts Mixed Results, Joins Walgreens, AeroVironment And Other Big Stocks Moving Lower In Thursday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
Levi Strauss & Co. (LEVI) reported mixed Q2 results, beating EPS estimates but missing revenue expectations, leading to a 16.1% drop in pre-market trading. Walgreens Boots Alliance (WBA) and AeroVironment (AVAV) also saw significant declines due to mixed results and lowered guidance. Other notable pre-market losers include Immutep (IMMP), Recursion Pharmaceuticals (RXRX), International Paper (IP), Grifols (GRFS), Hims & Hers Health (HIMS), and Elanco Animal Health (ELAN).
June 27, 2024 | 12:33 pm
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NEGATIVE IMPACT
AeroVironment shares fell 6.1% in pre-market trading after reporting Q4 results and issuing FY25 EPS guidance below estimates.
The lower-than-expected FY25 EPS guidance following the Q4 results led to a decline in AVAV's stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Elanco Animal Health shares declined 6.7% in pre-market trading.
The article does not provide specific reasons for the decline in ELAN's stock price, but the significant drop suggests negative sentiment.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Grifols shares fell 10.8% in pre-market trading.
The article does not provide specific reasons for the decline in GRFS's stock price, but the significant drop suggests negative sentiment.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Hims & Hers Health shares fell 11.2% in pre-market trading after gaining over 8% on Tuesday.
The decline in HIMS's stock price may be a correction following the significant gain on Tuesday.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Immutep shares tumbled 29.6% in pre-market trading after Baird maintained an Outperform rating but lowered its price target from $7 to $6.
The significant drop in IMMP's stock price was driven by Baird's lowered price target despite maintaining an Outperform rating.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
International Paper shares slipped 11.5% in pre-market trading after Suzano said it will not pursue a transaction involving the company.
The decision by Suzano not to pursue a transaction involving International Paper negatively impacted IP's stock price.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 70
NEGATIVE IMPACT
Levi Strauss reported mixed Q2 results, beating EPS estimates but missing revenue expectations, leading to a 16.1% drop in pre-market trading.
The mixed financial results, with EPS beating but revenue missing estimates, and lower FY24 EPS guidance led to a significant drop in LEVI's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Recursion Pharmaceuticals fell 20.6% in pre-market trading after announcing the pricing of a $200 million public offering.
The announcement of a $200 million public offering led to a significant decline in RXRX's stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
Walgreens Boots Alliance shares declined 15.4% in pre-market trading after reporting mixed Q3 results and lowering 2024 guidance below consensus estimates.
The mixed Q3 results and lowered 2024 guidance below consensus estimates negatively impacted WBA's stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90