Applied Materials, Amcor, RLX Technology And Other Big Stocks Moving Lower In Friday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
Several major stocks are moving lower in Friday's pre-market session. Applied Materials (AMAT) shares fell despite beating Q3 earnings estimates due to lower-than-expected Q4 revenue guidance. Sonida Senior Living (SNDA) shares dipped significantly after pricing its public offering. Other notable declines include Lumen Technologies (LUMN), Baytex Energy (BTE), U-BX Technology (UBXG), Pacific Biosciences (PACB), Amcor (AMCR), and RLX Technology (RLX).
August 16, 2024 | 12:30 pm
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NEGATIVE IMPACT
Applied Materials shares fell 3.1% in pre-market trading despite beating Q3 earnings estimates, due to lower-than-expected Q4 revenue guidance.
The decline in AMAT's stock is primarily due to the company's lower-than-expected Q4 revenue guidance, which overshadowed its Q3 earnings beat.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Amcor shares declined 3.1% in pre-market trading following fourth-quarter results.
The decline in AMCR's stock is likely due to investor reaction to the company's fourth-quarter results.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Baytex Energy shares fell 5.8% in pre-market trading.
The decline in BTE's stock could be due to broader market trends or company-specific issues not detailed in the article.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Lumen Technologies shares declined 6.1% in pre-market trading.
The decline in LUMN's stock could be due to broader market trends or company-specific issues not detailed in the article.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Pacific Biosciences shares fell 3.5% in pre-market trading after jumping 25% on Thursday.
The decline in PACB's stock is likely a correction following the significant 25% jump on Thursday.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
RLX Technology shares fell 2.5% in pre-market trading following weak quarterly sales.
The decline in RLX's stock is due to weak quarterly sales, which likely disappointed investors.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Sonida Senior Living shares dipped 15.4% in pre-market trading after pricing its upsized public offering of 4.3 million common stock at $27 per share.
The significant drop in SNDA's stock is due to the dilution effect of the upsized public offering.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
U-BX Technology shares declined 4% in pre-market trading after jumping 45% on Thursday.
The decline in UBXG's stock is likely a correction following the significant 45% jump on Thursday.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100