Top Movers

Tech and Healthcare Stocks Surge Pre-Inflation Report

Pre-Market

By Bill Bullington

5/15, 07:52 EDT
New York Community Bancorp, Inc.
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Key Takeaway

  • Arcutis Biotherapeutics (ARQT) and Monday.com (MNDY) lead pre-market gains with 19% surges, signaling strong investor confidence in healthcare and tech sectors.
  • Dlocal (DLO) sees a significant 27% drop, underscoring challenges in fintech, while the market awaits a pivotal U.S. inflation report with mixed sector performances.

Anticipation and Adjustments

As the U.S. stock market braces for a pivotal inflation report, the pre-market trading session on May 15, 2024, reveals a mixed bag of movers and shakers. With S&P 500, Nasdaq 100, and Dow Jones Industrial Average futures showing minimal changes, and the MSCI World index slightly up by 0.1%, investors are closely watching individual stock performances for insights into market sentiment.

Healthcare and Tech Lead Gains

Arcutis Biotherapeutics (ARQT) stands out with a 19% surge, buoyed by first-quarter sales that not only surpassed expectations but also highlighted increasing demand for skin medications. Similarly, Monday.com (MNDY) enjoys a 19% uplift after its first-quarter revenue exceeded forecasts, showcasing the robust demand for application software. These movements underscore a growing investor confidence in the healthcare and technology sectors.

Financial and Energy Sectors Show Promise

In the financial sector, New York Community Bancorp (NYCB) sees a 4% rise after announcing a significant transaction with JPMorgan, involving the sale of approximately $5 billion in mortgage warehouse loans. Meanwhile, Nextracker (NXT) impresses with a 13% increase, thanks to its fiscal 2025 adjusted EBITDA forecast beating estimates and a substantial backlog exceeding $4 billion, signaling strong future growth in the renewable energy sector.

Challenges in Retail and Fintech

However, not all news is positive. Boot Barn (BOOT) faces a 6% decline after its full-year sales and earnings-per-share forecasts fell short of Wall Street expectations, reflecting the ongoing challenges in the retail sector. Dlocal (DLO) experiences a significant 27% drop, as its first-quarter net income failed to meet analyst expectations, highlighting the volatile nature of the fintech industry.