Stocks making the biggest moves premarket: C3.ai, Tesla, JetBlue and more
— The tech stock plummeted 19.2% due to a lower-than-anticipated subscription revenue in their first fiscal quarter, reporting $73.5 million against the expected $79.2 million predicted by FactSet.
— Verizon confirmed its plans to acquire Frontier Communications for a whopping $20 billion in a cash-only transaction. Despite Frontier’s shares dropping 9.7%, Verizon shares ascended 1.2%. The transaction is scheduled to be finalized within the next year and a half.
— Tesla’s stock experienced nearly a 3% surge following the announcement of its “Full Self Driving” driver assistance program’s expansion into Europe and China in Q1 2025.
— The airline’s shares saw a rise of 4.6% after forecasting an improved revenue for their third quarter, ranging between a 2.5% loss and a 1% gain as compared to the previous year.
— The golf company witnessed a 4.1% bolster after disclosing plans to bifurcate into two separate entities. Callaway plans to specialize in golf equipment and active consumer lifestyle, while Topgolf will concentrate on golf-centric entertainment.
– Even with better-than-expected Q3 results, the company faced a 3% share depreciation due to a decline in gross margins from the previous year, though the AI demand was depicted as strong.
— The automation stock experienced a 13.5% drop post a disappointing Q2 earnings report. Verint reported 49 cents revenue per share versus the expected 53 cents.
— The electric vehicle charging company’s shares plummeted nearly 8% after the Q2 revenue report came in $5 million short of the $114 million expected by Wall Street.
— XPO shares fell by 5.4% following a report of a 4.6% decrease in less-than-truckload tonnage in August compared to the previous year, attributed to weak demand.
— The digital car auction company dropped 5.4% after reporting lower-than-expected earnings for Q4, earning 33 cents per share against the projected 37 cents.
— The sports retail giant saw a 2.7% decline in premarket trading, adding to Wednesday’s nearly 5% drop. This is due to the full-year earnings forecast not living up to Wall Street’s expectations, despite strong quarterly results.
— The fintech company saw a drop of 8.3% following a downgrade by Morgan Stanley from equal weight to underweight. Morgan Stanley warned of a potential decline as the payment business market gets saturated.
— The discount retailer experienced a 1.3% decrease in share value following a downgrade by JPMorgan to neutral from overweight after disappointing Q2 results and future guidance.
