Stocks making the biggest premarket moves: CrowdStrike, American Express, SLB, Travelers and more
Get the scoop on the businesses making major waves in premarket trading:
CrowdStrike’s shares took a 13% dive, slightly recovering from an even bigger drop, following an update from the cybersecurity firm that led to a significant IT failure affecting businesses worldwide.
Microsoft, a key player in the technology sphere, experienced a slip of 1.6% due to wide-scale tech disruptions resulting from the CrowdStrike update.
American Express saw a near 2% decrease in shares after the financial corporation announced a second-quarter revenue of $16.33 billion, falling short of the $16.59 billion analysts’ expectation from LSEG. Nevertheless, the company’s adjusted EPS reached $3.49, surpassing the $3.25 consensus estimate and raised its EPS guidance while reaffirming its full-year revenue forecast.
Comerica’s shares dwindled by 9% after disclosing its second-quarter financial statements. Their net interest income was $533 million, slightly above the projected $530.5 million by FactSet analysts but less than last year’s figure. Comerica’s CEO, Curtis Farmer, stated that high rates are putting a strain on deposits, coupled with a drop in loan volume.
SLB, the behemoth in oilfield services experienced a 1.4% increase in shares after reporting second-quarter adjusted EPS of 85 cents, beating the LSEG analysts’ prediction of 83 cents. Their revenue also exceeded expectations, generating $9.14 billion against the consensus estimate of $9.08 billion.
Arm Holdings, the chip manufacturer, saw a near 3% increase in shares following an upgrade to overweight from equal weight by Morgan Stanley, who cited the company’s critical contribution to the rise of edge artificial intelligence. This year alone, shares have doubled.
Intuitive Surgical shares boomed by 5.7% in the wake of impressive second-quarter results reported after trading hours on Thursday. With $2.01 billion in revenue, the company earned an adjusted $1.78 per share, surpassing the LSEG analysts’ projection of $1.54 in earnings per share on $1.97 billion revenue.
Shares of insurance firm, Travelers, notched up 2% after posting mixed second-quarter results. EPS stood at $2.51 per share, excluding items, beating the LSEG anticipated figure of $1.98. However, revenue was $11.12 billion, shy of the $11.34 billion analysts had projected.
Plug Power’s stock fell by 14% in response to the green energy firm’s announcement of its plan to sell $200 million worth of stock. Currently, shares are headed for a fourth consecutive yearly loss and are trading below $3 per share.
