Pinterest Issues Weak Revenue Forecast, Joins Groupon, O-I Glass And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
Pinterest issued a weak revenue forecast for Q3, causing its shares to fall sharply in pre-market trading. Other companies like MacroGenics, Penumbra, Groupon, and O-I Glass also saw significant declines due to various reasons including weak earnings and lowered guidance.
July 31, 2024 | 12:27 pm
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NEGATIVE IMPACT
Groupon shares tumbled 18.6% in pre-market trading following a second-quarter EPS miss.
Groupon's Q2 EPS miss is a significant negative event, leading to a substantial drop in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 85
NEGATIVE IMPACT
MacroGenics shares fell 24% in pre-market trading after announcing a presentation of clinical data.
The announcement of clinical data from the TAMARACK Phase 2 study led to a significant drop in MacroGenics' stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
O-I Glass shares declined 15.5% in pre-market trading after the company lowered its FY24 guidance.
O-I Glass's lowered FY24 guidance is a negative development, causing a significant decline in its stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Penumbra shares declined 20.3% in pre-market trading after reporting weak Q2 results and cutting FY24 revenue guidance.
Penumbra's weak Q2 results and reduced FY24 revenue guidance are major negative factors, causing a sharp decline in its stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Pinterest shares fell 10.5% in pre-market trading after issuing a weak Q3 revenue forecast.
Pinterest's weak Q3 revenue forecast is a significant negative signal for investors, leading to a sharp decline in its stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100