Smith & Wesson Brands Reports Downbeat Results, Joins Planet Labs PBC, Broadcom And Other Big Stocks Moving Lower In Friday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
Smith & Wesson Brands, Planet Labs, and Broadcom are among the stocks moving lower in Friday's pre-market session. Smith & Wesson reported a larger-than-expected loss, while Broadcom, despite better-than-expected results, also saw a decline.
September 06, 2024 | 12:12 pm
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NEGATIVE IMPACT
Broadcom shares dipped 9.4% despite reporting better-than-expected third-quarter results. The company expects fourth-quarter revenue of approximately $14 billion.
Despite strong third-quarter results and a positive revenue outlook for the fourth quarter, Broadcom's stock price fell in pre-market trading, possibly due to broader market trends or profit-taking.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Planet Labs shares fell 9.7% in pre-market trading after the company reported disappointing quarterly sales.
Planet Labs reported lower-than-expected sales, leading to a significant drop in its stock price in pre-market trading.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Smith & Wesson Brands reported a quarterly loss of 5 cents per share, missing the consensus estimate of a 2-cent loss. Sales also fell short of expectations, leading to an 8.7% drop in pre-market trading.
Smith & Wesson's financial results were worse than expected, with both earnings and sales missing analyst estimates. This negative performance has led to a significant drop in the stock price in pre-market trading.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100