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US Stock Movers Before Market: Beyond Meat, eBay, First Solar, Urban Outfitters…

Bruno T
Latest News
February 28 2024 2:08AM

The pre-market scene in the United States witnessed significant movements in various stocks, reflecting investor reactions to corporate results and future outlooks. Among the highlights, companies like Beyond Meat, eBay, Coupang, First Solar, Urban Outfitters, and Annovis Bio showed notable variations in their quotes, driven by factors such as revenue results, guidance updates, and analyst revisions.

Beyond Meat’s Surge

Beyond Meat Inc (NASDAQ:BYND) saw its shares soar about 68% in pre-market trading after reporting quarterly revenue that exceeded expectations. The growth was largely attributed to increased international sales, a positive sign for the company’s global expansion in the plant-based food sector.

eBay Exceeds Expectations

eBay Inc (NASDAQ:EBAY) experienced a rise of over 3% in pre-market, reflecting the company’s revenue beat in the fourth quarter. The company also impressed with its gross merchandise volume, accompanied by an optimistic outlook for the next quarter and the authorization of a new $2.0 billion share repurchase program.

Coupang’s Optimistic Results

Coupang Inc (NYSE:CPNG) recorded a gain of more than 6% before market open, thanks to upbeat fourth-quarter results. The company’s performance suggests robust and sustainable growth in the Asian e-commerce market, attracting investor attention.

First Solar’s Advance

First Solar Inc (NASDAQ:FSLR) saw its shares rise more than 4% in pre-market trading after reporting a better-than-expected earnings per share (EPS) for the fourth quarter. Moreover, the company provided in-line guidance for the full year, bolstering confidence in the solar energy sector.

Urban Outfitters’ Decline

Urban Outfitters Inc (NASDAQ:URBN) experienced a drop of more than -9% in pre-market, in response to fourth-quarter results that fell short of expectations. This performance highlights the challenges faced by the fashion retail sector, including margin pressures and fluctuating demand.

Annovis Bio’s Downgrade

Annovis Bio Inc (NYSE:ANVS) suffered a drop of more than -8% before market open, following the downgrade of the stock by Brookline from Buy to Hold, with a price target adjusted to $9. This movement reflects uncertainties and potential challenges in the company’s path to developing therapies for neurodegenerative diseases.

Pre-market movements provide valuable insights into market expectations and investor confidence regarding corporate prospects. The market’s response to these updates highlights the importance of solid financial results, clear future outlooks, and strategic evaluations by analysts. While some companies navigate favorable waters, others face headwinds, reflecting the dynamic nature and inherent uncertainties of financial markets.

Today’s U.S. Earnings Spotlight: Wednesday – February 28th

Salesforce Inc (CRM), RBC (RY), TJX (TJX), Snowflake (SNOW), NetEase (NTES), Monster Beverage (MNST), Baidu (BIDU), HP Inc (HPQ), Vistra Energy (VST), Viatris (VTRS), Nutanix (NTNX), Okta (OKTA), Sarepta (SRPT), Topbuild Corp (BLD), EMCOR (EME), NRG (NRG), Endeavor Group (EDR), UWM Holdings (UWMC), Stantec (STN), Vipshop (VIPS), Natera Inc (NTRA), Api Group Corp (APG), Jazz Pharma (JAZZ), Duolingo (DUOL), Donaldson (DCI), Icahn Enterprises (IEP), DoubleVerify Holdings (DV), CCC Intelligent Solutions Holdings (CCCS), AAON (AAON), Ultrapar Participacoes (UGP), Marathon Digital (MARA), Nexstar (NXST), Blackstone Secured Lending Fund (BXSL), Kinetik Holdings (KNTK), Clearwater Analytics Holdings (CWAN), Iovance Biotherapeutics (IOVA), Stericycle (SRCL), Merit (MMSI), Squarespace (SQSP), Southwest Gas Hold (SWX), PagSeguro Digital (PAGS), Chemours Co (CC), National Storage Affiliates Trust (NSA), Amicus (FOLD), Advance Auto Parts (AAP), Marqeta (MQ), Cactus (WHD), Dycom Industries (DY), C3.ai (AI), Kontoor Brands (KTB), Harmony Gold Mining (HMY), Immunocore Holdings (IMCR), Integra (IART), iQIYI (IQ), Steven Madden (SHOO), Globalstar Inc (GSAT), EPR Properties (EPR), United Parks Resorts (PRKS), Greif Bros (GEF), Baytex Energy Corp (BTE), Clear Secure (YOU), MYR Group (MYRG), Evertec Inc (EVTC), Crinetics Pharma (CRNX), Patterson (PDCO), Shoals Technologies Group (SHLS), Frontdoor (FTDR), Lifestance Health Group (LFST), AvidXchange Holdings (AVDX), Alkami Technology (ALKT), Golden Ocean (GOGL), IONQ (IONQ), Life Time Holdings (LTH), Schrodinger (SDGR), Sovos Brands (SOVO), Janus International Group (JBI), Talos Energy (TALO), ODP (ODP), Payoneer Global Inc (PAYO), TG (TGTX), Kodiak Gas Services (KGS), Compass Diversified (CODI), Catalyst Pharmaceuticals (CPRX), Warby Parker (WRBY), Taboola (TBLA), Global Partners (GLP), Magnite (MGNI), Excelerate Energy (EE), US Physicalrapy (USPH), Kiniksa Pharma (KNSA), Definitive Healthcare (DH), OneSpaWorld (OSW), Mirum Pharmaceuticals (MIRM), Acm Research (ACMR).