Why GitLab Shares Are Trading Higher By Around 17%; Here Are 20 Stocks Moving Premarket
Portfolio Pulse from Avi Kapoor
GitLab shares surged 17% in pre-market trading after reporting better-than-expected Q2 earnings and issuing strong FY25 guidance. Other notable pre-market movers include WiSA Technologies, Conifer Holdings, and Atara Biotherapeutics among gainers, while Athira Pharma and Zscaler saw significant declines.
September 04, 2024 | 10:39 am
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POSITIVE IMPACT
Atara Biotherapeutics shares gained 17.2% pre-market following a $36 million direct offering.
Atara Biotherapeutics announced a $36 million registered direct offering, which is generally seen as a positive move to raise capital, leading to a rise in share price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Conifer Holdings shares rose 39.1% pre-market after completing the sale of its insurance agency operations.
Conifer Holdings completed the sale of its insurance agency operations for $45 million, a strategic move that likely improves its financial position, leading to a positive market reaction.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 75
POSITIVE IMPACT
GitLab's shares rose 17% in pre-market trading due to better-than-expected Q2 earnings and strong FY25 guidance.
GitLab reported Q2 earnings of 15 cents per share, beating estimates by 50%, and revenue of $182.6 million, surpassing expectations by 3.23%. The strong financial performance and positive guidance for FY25 are likely to boost investor confidence, leading to a significant rise in share price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
WiSA Technologies shares gained 63.2% pre-market after announcing an asset purchase agreement.
WiSA Technologies announced a definitive asset purchase agreement, which is a significant corporate action likely to positively impact its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Athira Pharma shares fell 72.7% pre-market after its clinical trial did not meet primary endpoints.
Athira Pharma's Phase 2/3 clinical trial for Fosgonimeton failed to meet primary or key secondary endpoints, a significant setback that negatively impacts investor sentiment and the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Zscaler shares fell 15.2% pre-market following its fourth-quarter earnings report.
Zscaler's fourth-quarter earnings report led to a decline in its share price, indicating that the results may have fallen short of market expectations.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85