TipRanks has compiled a list of Thursday’s biggest pre-market stock movements.
Using TipRanks’ new Top Stock Gainers/Losers page, we’ve identified the top five pre-market stock movers, as detailed below.
5 Biggest Movers
Global telemedicine and virtual healthcare company Teladoc Health, Inc. (TDOC) was the biggest laggard in the pre-market trading session as the stock had plunged more than 40% at the time of writing. Negative sentiment followed the first-quarter 2022 net loss, disappointing revenues, and a bleak outlook provided by the company. For Q2 2022, the company projects revenue in the range of $580 million to $600 million. Additionally, a net loss in the range of $0.72 to $0.60 per share is expected. For 2022, the company expects revised revenue of $2.4 billion to $2.5 billion, while a net loss per share is projected between $43.50 and $43.
Another loser, Align Technology, Inc. (ALGN) had lost around 21.5% in pre-market trading at the time of writing. Disappointing first-quarter 2022 results posted by the global medical devices company raised investor concerns. The company missed consensus estimates for both earnings and revenues.
Meanwhile, social networking giant Meta Platforms, Inc. (FB) had surged 17% in the pre-market session at last watch. Upbeat first-quarter 2022 earnings sparked investor optimism despite disappointing revenues and a bleak June quarter revenue outlook. Markedly, Facebook’s monthly active users (MAUs) were 2.94 billion as of March 31, 2022, up 3% year-over-year. For Q2 2022, the company expects revenue in the range of $28 billion to $30 billion, below the consensus estimate of $30.6 billion.
Another gainer, Charles River Laboratories International, Inc. (CRL) had gained 13% in the pre-market session at the time of writing. The surge in price followed a rise of 3.14% at Wednesday’s close. The early-stage contract research company has launched LogicaTM, an artificial intelligence (AI) powered drug solution, in partnership with Valo Health, Inc. The solution is likely to translate “clients’ biological insights into optimized preclinical assets”.
Software company ServiceNow, Inc. (NOW) rounded off the list. It had recorded a more than 9% jump in the pre-market trading at the time of writing. Positive sentiment followed the company’s upbeat first-quarter 2022 results, surpassing both earnings and revenue expectations. ServiceNow reported EPS of $1.73 per share, above the Street’s estimate of $1.70. Additionally, revenue for the quarter stood at $1.72 billion, beating the consensus estimate of $1.7 billion. For Q2 2022, the company expects subscription revenues in the range of $1.67 billion to $1.675 billion.
Continue to watch this space for possible volatility when the market opens. Tomorrow, we’ll have another up-to-date piece on stock Pre-Market Movers…
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