On Holding Reports Mixed Q2 Results, Joins Tencent Music Entertainment And Other Big Stocks Moving Lower In Tuesday Pre-Market Session
Portfolio Pulse from Avi Kapoor
On Holding AG (NYSE:ONON) reported mixed Q2 results, missing earnings estimates but beating revenue expectations. This led to an 8.6% drop in pre-market trading. Other stocks like Viasat, Inc. (NASDAQ:VSAT), UTime Limited (NASDAQ:WTO), Tencent Music Entertainment Group (NYSE:TME), Hudbay Minerals Inc. (NYSE:HBM), Genmab A/S (NASDAQ:GMAB), and Lumen Technologies, Inc. (NYSE:LUMN) also saw declines in pre-market trading.
August 13, 2024 | 12:29 pm
News sentiment analysis
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NEGATIVE IMPACT
Genmab A/S shares fell 4.2% to $25.41 in pre-market trading.
The decline in Genmab's stock price suggests a broader market trend or specific investor concerns.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Hudbay Minerals Inc. shares declined 4.9% to $7.00 in pre-market trading following a second-quarter revenue miss.
The revenue miss in Q2 has led to a decline in Hudbay Minerals' stock price, reflecting investor concerns.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Lumen Technologies, Inc. shares declined 3% to $4.50 after dipping around 17% on Monday.
The continued decline in Lumen Technologies' stock price indicates persistent negative sentiment among investors.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
On Holding AG reported mixed Q2 results, missing earnings estimates but beating revenue expectations. This led to an 8.6% drop in pre-market trading.
The mixed Q2 results, particularly the earnings miss, have led to a significant drop in the stock price. Investors are likely reacting negatively to the earnings miss despite the revenue beat.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Tencent Music Entertainment Group shares fell 6.3% to $12.30 in pre-market trading following a second-quarter revenue miss.
The revenue miss in Q2 has led to a significant drop in Tencent Music's stock price, indicating investor disappointment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Viasat, Inc. shares fell 7.5% in pre-market trading after a 5% decline on Monday.
The continued decline in Viasat's stock price suggests ongoing negative sentiment among investors.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
UTime Limited shares declined 6.8% to $1.36 after a 22% jump on Monday.
The sharp decline following a significant jump suggests profit-taking by investors.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70