Top Movers

Blackberry Surprises with Profit, Levi's Earnings Soar


By Bill Bullington

4/4, 08:50 EDT
ConAgra Brands, Inc.
Levi Strauss & Co
Block, Inc.

Key Takeaway

  • Blackberry (BB) reports an unexpected profit, surging 10%, while Block (SQ) falls 3.5% post-Morgan Stanley downgrade, highlighting pre-market volatility.
  • AngioDynamics (ANGO) and Levi Strauss (LEVI) see significant gains of 5.3% and 12% respectively, driven by FDA clearance and raised earnings forecasts.

Anticipation and Adjustments

As the U.S. stock market gears up for the day, investors are keenly awaiting jobs data, hoping for insights into future monetary policies. With S&P 500 futures up by 0.4%, Nasdaq 100 futures climbing 0.6%, and Dow Jones Industrial Average futures also rising by 0.4%, the stage is set for a day of potential modest gains. The global perspective, as seen through the MSCI World index's 0.2% rise, suggests a cautiously optimistic outlook.

Key Movers and Shakers

In today's pre-market activity, several companies have made significant moves. AngioDynamics (ANGO) enjoys a 5.3% uptick after announcing FDA clearance for its AlphaVac F1885 System, a promising development in the treatment of pulmonary embolism. Blackberry (BB) surprises the market with a 10% jump, reporting an unexpected profit for the fourth quarter, hinting at effective cost reduction strategies. On the flip side, Block (SQ) sees a 3.5% decline after a downgrade from Morgan Stanley, reflecting concerns over the expansion potential of its Cash App.

Sector Highlights: Tech, Healthcare, and Consumer Goods

The technology sector shows mixed signals with Blackberry's unexpected profit contrasted by Block's downgrade. In healthcare, AngioDynamics' FDA clearance and MacroGenics' (MGNX) positive trial data, which led to an 11% rise, highlight the sector's dynamic nature. Consumer goods also see notable activity, with Conagra Brands (CAG) rising 4.7% after improving volume performance and Levi Strauss (LEVI) jumping 12% on raised earnings forecasts.