Lattice Semiconductor Posts Weak Q2 Results, Joins Symbotic, Woodward And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
Lattice Semiconductor, Symbotic, Woodward, and other major stocks experienced significant declines in pre-market trading due to weak financial results and guidance. Lattice Semiconductor reported disappointing Q2 earnings and weak Q3 revenue guidance, leading to a 14.8% drop in its stock price.
July 30, 2024 | 12:28 pm
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NEGATIVE IMPACT
Amkor Technology shares fell 6.2% in pre-market trading after the company issued roughly in-line guidance.
The in-line guidance has not provided a positive catalyst for Amkor Technology's stock price.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 60
NEGATIVE IMPACT
Celldex Therapeutics shares tumbled 8.6% in pre-market trading after reporting Phase 2 results for barzolvolimab in chronic inducible urticaria.
The Phase 2 results for barzolvolimab have not met investor expectations, leading to a decline in Celldex Therapeutics' stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 70
NEGATIVE IMPACT
CrowdStrike shares declined 4.7% in pre-market trading.
The decline in CrowdStrike's stock price suggests negative investor sentiment.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Diageo shares declined 8.5% in pre-market trading after the company missed annual profit expectations.
Missing annual profit expectations has negatively impacted Diageo's stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 70
NEGATIVE IMPACT
Fresenius Medical Care shares declined 5.7% in pre-market trading following weak quarterly sales.
Weak quarterly sales have led to a decline in Fresenius Medical Care's stock price.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 60
NEGATIVE IMPACT
Fitell Corporation shares declined 6.8% in pre-market trading.
The decline in Fitell Corporation's stock price suggests negative investor sentiment.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Lattice Semiconductor reported Q2 earnings of 23 cents per share, missing the consensus estimate of 24 cents. Quarterly sales were $124.076 million, below the expected $130.172 million. The company also issued weak Q3 revenue guidance, causing a 14.8% drop in pre-market trading.
The significant miss on both earnings and revenue, coupled with weak guidance, has led to a sharp decline in Lattice Semiconductor's stock price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Novavax shares dipped 9.6% in pre-market trading after a 4% decline on Monday.
The continued decline in Novavax's stock price suggests ongoing negative sentiment among investors.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
Rambus shares fell 7.8% in pre-market trading following weak quarterly sales.
Weak quarterly sales have led to a decline in Rambus' stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
Soho House & Co shares fell 7.3% in pre-market trading ahead of its Q2 financial results release on Friday.
Investor caution ahead of the Q2 financial results release has led to a decline in Soho House & Co's stock price.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 60
NEGATIVE IMPACT
Symbotic reported worse-than-expected Q3 earnings and issued Q4 revenue guidance below estimates, leading to a 19.5% drop in pre-market trading.
Symbotic's disappointing Q3 earnings and weak Q4 guidance have significantly impacted investor sentiment, resulting in a sharp decline in its stock price.
CONFIDENCE 100
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Woodward reported mixed Q3 financial results and lowered its FY24 revenue guidance, causing a 10.5% decline in pre-market trading.
The mixed Q3 results and lowered FY24 revenue guidance have negatively affected Woodward's stock price.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 80