Top Movers
By Athena Xu
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As Wall Street takes a breather from its recent rally, fueled by the anticipation of Federal Reserve rate cuts, today's pre-market movers present a diverse landscape. With S&P 500 futures inching up by 0.1% and Nasdaq 100 futures holding steady, investors are parsing through a slew of earnings reports and forecasts to gauge the market's direction.
In today's trading, Ambac Financial (AMBC) stands out with a 14% jump after reporting a significant turnaround in its first-quarter earnings, showcasing an adjusted EPS of 82c compared to last year's 30c loss. Similarly, Coherent Corp. (COHR) and Esperion Therapeutics (ESPR) are on the rise, with Coherent up 7.7% after lifting its revenue forecast and Esperion surging 39% on strong first-quarter revenue.
Conversely, not all news was positive. Datadog (DDOG) shares dipped 11% despite a generally positive report, affected by high expectations and the stepping down of its president. Disney (DIS) also faced a setback, with shares sliding 8.9% due to disappointing Disney+ subscriber growth. Additionally, Tesla (TSLA) shares dropped by up to 3% amid concerns over its Shanghai factory's decreased shipments.
Several companies enjoyed a boost from analyst upgrades and strategic shifts. Gap (GPS) shares rose 4.2% following a Citi upgrade, while Target (TGT) gained 2.1% on improved inventory management. Fidelity National Information Services (FIS) climbed 2.7% as it raised its full-year EPS outlook, sparking optimism for growth acceleration.
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