TipRanks has compiled a list of Tuesday’s biggest pre-market stock movements.
Mixed market sentiment, management changes, and earnings releases, along with some other variables, seem to have dominated today’s stock market.
Using TipRanks’ new Top Stock Gainers/Losers page, we’ve identified the top 5 pre-market stock movers below.
5 Biggest Movers
Peloton Interactive, Inc. (PTON), the American exercise equipment and media company, was the biggest laggard in pre-market trading. It lost around 13.6% at the time of writing, reflecting investors’ concerns following the company’s revelation that CEO John Foley will step down and around 2,800 employees will be laid off.
Another loser, British multinational software and information technology business Micro Focus International plc (MFGP), lost around 12.3% in the pre-market trading at last watch after posting full-year results for the year ended October 31, 2021. The company reported an adjusted loss of $1.29 per share and revenue of $2.9 billion, down 3.4% year-over-year.
Meanwhile, Chegg, Inc. (CHGG) was the biggest gainer as the stock rose around 8.3% at the time of writing. The education technology company posted upbeat fourth-quarter 2021 results and provided better-than-expected revenue guidance for the first-quarter 2022 and full-year 2022. For Q1 2022, Chegg expects total net revenues between $200 million and $205 million, compared with the consensus estimate of $198.1 million. Additionally, for 2022, total net revenues are anticipated to range between $830 million and $850 million, above analysts’ expectations of $826.9 million.
Another gainer, biopharmaceutical company Denali Therapeutics Inc. (DNLI), surged 5.8% in the pre-market trading, at last watch. The positive sentiment seems to have followed the addition of Erik Harris as a member of the Board of Directors. Mr. Harris has pharmaceutical commercial experience of 20 years and achieved successful product launches in various therapeutic areas, including neurological and rare diseases.
Multi-category e-commerce platform Ozon Holdings PLC (OZON) completes the list. In the pre-market trading, the stock jumped 4.5% and is now trading over $20. There is no specific news to explain today’s price jump.
Continue to watch this space. Tomorrow, we’ll have another up-to-date piece on stock Pre-Market Movers…
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