Guess?, Nvidia, Pure Storage, Applied Digital And Other Big Stocks Moving Lower In Thursday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
Several major stocks, including Guess?, Nvidia, and Pure Storage, experienced declines in pre-market trading. Guess? reported disappointing earnings and guidance, while Nvidia's strong earnings were overshadowed by a gross margin contraction.
August 29, 2024 | 12:13 pm
News sentiment analysis
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NEGATIVE IMPACT
Applied Digital shares declined 11.8% after reporting a wider-than-expected quarterly loss.
The 11.8% decline in Applied Digital's shares reflects investor disappointment with its larger-than-expected quarterly loss.
CONFIDENCE 100
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Guess? shares fell 8.6% after missing Q2 EPS estimates and lowering FY25 guidance.
Guess? reported Q2 EPS of $0.42, missing the $0.43 estimate, and lowered FY25 guidance, leading to an 8.6% pre-market drop.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Nvidia shares fell 2% despite strong Q2 earnings and a $50B stock repurchase plan, due to gross margin contraction.
Nvidia's 2% decline is attributed to concerns over gross margin contraction, despite strong earnings and a significant buyback plan.
CONFIDENCE 100
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Okta shares fell 8.1% following its second-quarter results.
Okta's 8.1% pre-market decline indicates a negative market reaction to its Q2 results.
CONFIDENCE 100
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Pure Storage shares fell 15.3% after reporting Q2 financial results.
Pure Storage's significant pre-market decline of 15.3% suggests negative market reaction to its Q2 financial results.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 100