Stocks making the biggest moves premarket: Trump Media, Hims & Hers, Palantir and more
Here’s a quick rundown of the latest buzz in the corporate world that hit the news before the markets opened.
— The parent company of TruthSocial, with its majority stake owned by Republican presidential nominee Donald Trump, observed a 9% rise in shares pre-market on Election Day. The stocks are being viewed as an indirect gamble on Trump’s chances of re-emerging victorious in the electoral race.
— The cybersecurity giant saw a 14% surge after posting strong Q3 results. The company reported earning ten cents per share with total revenue of $726 million, surpassing LSE’s earnings forecast of nine cents per share and $701 million in revenue. A massive demand for AI and a substantial 30% yearly revenue growth were cited as key reasons.
— The Netherlands-based chipmaker suffered a 7% fall in shares after delivering a lacklustre Q4 guidance, hinting at a macroeconomic downturn in the Americas and Europe. However, the company beat analysts’ Q3 earnings predictions by 2 cents per share, and its $3.25 billion revenue matched estimates.
— Shares of the resort and casino operator dipped over 2% in pre-market trading following below-par quarterly results. With adjusted earnings of 90 cents a share on $1.69 billion in revenue, Wynn fell short of Wall Street estimates, as reported by LSEG.
— The discount retail chain saw a 4% boost in shares following the departure of CEO Rick Dreiling. COO Michael Creedon will step in as interim CEO, and the company confirmed its Q3 outlook.
— The telehealth company’s shares rose by 7.2% post better-than-expected Q3 earnings. The firm also announced a more promising revenue forecast for the ongoing quarter and the full year than initially projected.
— Shares slid 6% post the steel producer’s failure to meet revenue expectations of $4.77 billion by LSEG analysts in its recent quarter, earning only $4.57 billion.
— The chip design company’s shares took an 11% hit following a disappointing earnings and revenue forecast for the present quarter. Q3 results, however, were in line with analyst predictions.
— Shares of the chip supplier plummeted almost 11% after predicting a revenue range of $480 million to $540 million for the ongoing quarter, falling short of LSEG’s $590 million expectation.
— The chemical giant’s shares rose over 2% after the company reported Q3 adjusted earnings of $1.18 per share, surpassing LSEG’s prediction of $1.03. However, the revenue of $3.19 billion narrowly missed the $3.20 billion estimate.
Restaurant Brands International
— The Burger King parent company saw a 2% slip in shares after disappointing earnings of 93 cents a share, just below the expected 95 cents, as per LSEG. The revenue of $2.29 billion also fell short of the $2.31 billion consensus.
— The energy company shares fell by 2% post-reporting Q3 adjusted per-share earnings of $3.38, less than the expected $3.98 by LSEG. Despite the miss, Diamondback’s $2.65 billion revenue surpassed the consensus estimate of $2.44 billion.
— The aviation giant saw a 1.6% uptick in shares after machinists approved a new labor deal by a 59% majority, bringing an end to a strike that lasted over seven weeks and affected the firm’s production. The deal promises a 38% wage hike over four years among other improvements for the workers.
— The semiconductor solutions designer’s shares rocketed by 24% after topping third-quarter earnings and revenue expectations. Moreover, the company’s forecast for the fourth quarter is more promising than analyst predictions.
— The modern card issuing platform’s shares plummeted 39% after reporting a higher Q3 loss by 1 cent than forecasted. The revenue of $128 million narrowly missed the FactSet consensus of $128.1 million. The company’s Q4 revenue growth projection of 10% to 12% fell short of LSEG’s estimation for over 17% growth. Several firms including Deutsche Bank, Wells Fargo, and UBS downgraded the firm, expressing uncertainty about its core business.
