New York, January 30, 2024 - PRISM MarketView - Here are the top companies that have made major moves before the market opens.
Spotify
— The music streaming titan saw its shares increase by 2% following a buy rating upgrade from UBS, up from its previous neutral position. The analyst, Batya Levi, stated an increased confidence in the company’s sustainable margin expansion and stronger bottom line trends in the upcoming years.
Pfizer
— Shares of the biopharmaceutical powerhouse increased by 1% after the announcement of its mixed fourth-quarter results. Pfizer revealed adjusted earnings of 10 cents per share, outperforming the LSEG prediction of a 22-cent loss per share. However, their $14.25 billion revenue fell short of the $14.42 billion consensus.
Masimo
— Shares for this health tech company dropped by 1.4% when Jefferies downgraded the stock from buy to hold. Despite their overall optimistic outlook on Masimo, the firm noted that the currently high valuations have likely taken into account the expected positive news.
Sensata Technologies
— The industrial tech company’s shares increased by 2.5% after Oppenheimer upgraded it to outperform. The firm praised Sensata’s significant increase in new business, debt reduction efforts, and solid margin performance.
Block
— The financial tech stock jumped 2.9% after BTIG raised it from neutral to buy. The firm highlighted the company’s potential for margin expansion, growth prospects, and inter-segment synergies as catalysts for this change.
United Parcel Service
— The delivery giant’s shares dropped by 7% following a revenue miss in Q4 and a disappointing guidance. With revenues totaling $24.92 billion instead of the expected $25.43 billion, UPS’s full-year revenue forecast also fell below estimates.
General Motors
— The legacy automaker’s shares escalated by 8% after comfortably beating top and bottom line estimates for Q4. GM also predicted an increase in its earnings per share by 2024.
JetBlue Airways
— The airline’s stock fell by 1.3% after posting a Q4 loss, though the loss was less severe than expected.
Whirlpool
— The global home appliance leader saw its shares drop by 4% in the premarket after projecting a guiding lower than expected for 2024.
Super Micro Computer
— Shares of this IT company surged by nearly 13% after reporting a higher-than-expected fiscal Q2 report.
F5
— The cybersecurity company’s shares rose by 8% following a triumphant Q1, exceeding both revenue and earning estimates.
Sanmina
— The manufacturing services provider’s shares skyrocketed by more than 16% after exceeding Q1 earning expectations and providing encouraging Q2 guidance.
PRISM MarketView does not provide investment advice.
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Phone: 646-863-6341
Website: https://prismmarketview.com
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