Enphase Energy Posts Downbeat Results, Joins McDonald's, Seagate And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
Enphase Energy and several other major stocks, including McDonald's and Seagate, saw significant declines in pre-market trading due to disappointing financial results and other negative news.
October 23, 2024 | 12:47 pm
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NEGATIVE IMPACT
New Oriental Education's stock fell 6.2% following first-quarter results.
The first-quarter results from New Oriental Education did not meet investor expectations, causing a 6.2% decline in stock price.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 50
NEGATIVE IMPACT
Enphase Energy's stock dropped 15.2% in pre-market trading after missing Q3 revenue and earnings estimates.
Enphase Energy reported Q3 revenue of $380.9M, missing the $391.979M estimate, and EPS of $0.65, below the $0.77 estimate. This significant miss led to a sharp 15.2% drop in pre-market trading.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Hilton Worldwide shares fell 3.6% after mixed Q3 results and a lowered FY24 GAAP EPS outlook.
Hilton's mixed Q3 results and a lowered FY24 GAAP EPS outlook led to a 3.6% drop in its stock price.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 55
NEGATIVE IMPACT
McDonald's shares fell 7.2% due to a CDC report linking an E. coli outbreak to its quarter pounders.
The CDC report linking an E. coli outbreak to McDonald's quarter pounders is a significant health concern, leading to a 7.2% drop in the stock price.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 80
NEGATIVE IMPACT
Seagate Technology's stock fell 6.8% following disappointing first-quarter results.
Seagate's first-quarter results did not meet market expectations, resulting in a 6.8% decline in pre-market trading.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 70
NEGATIVE IMPACT
Vertiv Holdings shares fell 8.5% after releasing third-quarter results.
Vertiv Holdings' third-quarter results led to an 8.5% drop in its stock price, indicating market disappointment.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 60