Top Movers
By Mackenzie Crow
ᐧ
As the U.S. stock market awakens, investors are greeted with a mixed bag of premarket movers, driven by a blend of tech earnings optimism and a keen eye on the latest inflation data. With S&P 500 futures climbing 0.7% and Nasdaq 100 futures up by 0.8%, the stage is set for a day of discerning trading, especially with the Dow Jones Industrial Average futures showing minimal change.
In the tech sector, Atlassian's (TEAM) shares took a 7.7% hit after announcing a significant leadership change and a mixed financial outlook, despite surpassing third-quarter expectations. Meanwhile, Advanced Micro Devices (AMD) and Apple Inc. (AAPL) find themselves navigating through downgrades by Erste Group, though their stocks are up by 1.7% and 0.4%, respectively, hinting at the complex sentiment surrounding tech giants. On the brighter side, the healthcare sector sees a boost with AbbVie (ABBV) and Centene (CNC) uplifting their full-year forecasts, reflecting a positive adjustment in investor expectations.
The energy sector shows signs of strain as Exxon Mobil Corp. (XOM) and Chevron Corp. (CVX) face downturns of 1.7% and 0.4%, respectively, after their first-quarter performances fell short of investor hopes. Conversely, the consumer goods realm presents a mixed picture; Skechers (SKX) leaps by 11% on the back of an upgraded full-year sales forecast, while Saia (SAIA) stumbles by 14% following disappointing first-quarter results and the announcement of CFO Douglas Col's retirement.
Snap Inc. (SNAP) stands out with a 25% surge after surpassing first-quarter expectations and presenting a robust outlook, momentarily dispelling growth concerns. Similarly, US Silica Holdings (SLCA) sees an 18% jump as Apollo Global Management Inc. steps in with a $1.21 billion acquisition deal. In contrast, Teladoc Health (TDOC) faces a 3.9% decline after its second-quarter forecast and first-quarter gross margin failed to meet analyst expectations, highlighting the challenges within the telehealth sector.
Finance GPT
beta