TipRanks has compiled a list of Tuesday’s biggest pre-market stock movements.
Today’s stock market is dominated by consolidation moves, expected strong earnings releases, positive market sentiment, and other variables.
Using TipRanks’ new Top Stock Gainers/Losers page, we’ve identified the top 5 pre-market stock movers, as detailed below.
5 Biggest Movers
Israel-based integrated circuits manufacturer Tower Semiconductor Ltd. (TSEM) was the biggest gainer in pre-market trading, as the stock popped over 46% at the time of writing. The positive sentiment followed the agreement between the tech giant Intel Corporation (INTC) and Tower Semiconductor, under which the former will acquire the latter in a cash deal worth $5.4 billion. The transaction is likely to be immediately accretive to Intel’s adjusted EPS.
Another gainer, Amplitude, Inc. (AMPL) surged 10.4% in pre-market trading, at last watch. There is no fundamental news explaining the trading frenzy of this American public company, which is pioneering a new category of software called digital optimization. Nevertheless, investors seem enthusiastic for the fourth-quarter 2021 results of the company, to be released tomorrow.
Fluence Energy, Inc. (FLNC) increased 10.2% in pre-market trading at the time of writing, without any fundamental news explaining the surge. The company is a provider of energy storage products and services, along with artificial intelligence-enabled digital applications for renewables and storage globally.
Clinical-stage immunotherapy company ImmunityBio, Inc. (IBRX) jumped 10.1% in pre-market trading, at last check. Positive data revealed by the company from its late-stage bladder cancer trial (QUILT-3.032) raised investors’ optimism. Sustained complete response rates in patients with BCG-unresponsive non-muscle invasive carcinoma in situ (NMIBC CIS) bladder cancer (Cohort A) and with papillary disease (Cohort B) were demonstrated.
Boston-based Toast, Inc. (TOST) completes the list. It jumped in pre-market trading, recording gains of around 10% at the time of writing. Though there is no fundamental news explaining the uptrend of this cloud-based restaurant software company, it seems that investors are optimistic about the company’s fourth-quarter 2021 results, to be released today after the market closes. The Street expects the company to report a loss of $0.12 per share on revenues of $487.91 million.
Continue to watch this space. Tomorrow, we’ll have another up-to-date piece on stock Pre-Market Movers…
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