Alphabet Soars on Strong Q3 Earnings, While Other Stocks See Big Moves in Pre-Market
The stock market is buzzing with activity in pre-market trading, with Alphabet Inc. (GOOGL, GOOG) leading the charge. The tech giant’s shares climbed sharply after reporting better-than-expected third-quarter financial results. Alphabet posted revenue of $88.27 billion, representing a 15% year-over-year increase, exceeding the Street’s consensus estimate of $86.31 billion. This impressive performance has propelled Alphabet shares up by 6%, reaching $179.77 in pre-market trading.
Notable Movers in Pre-Market Trading
While Alphabet is grabbing headlines, several other stocks are experiencing significant pre-market swings. Here’s a look at some of the most notable gainers and losers:
Gainers
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Haoxi Health Technology Limited (HAO):
The company’s shares soared 82.8% to $0.3382 in pre-market trading. This surge follows the release of its FY earnings, which came in at 4 cents per share.*
Starbox Group Holdings Ltd. (STBX):
Starbox shares climbed 80.2% to $0.2433 in pre-market trading.*
Digital Brands Group, Inc. (DBGI):
Shares of Digital Brands Group surged 50.5% to $0.1540 in pre-market trading. This rally comes after a decline of around 34% on Tuesday, following the company’s announcement of a $3 million public offering.*
Ensysce Biosciences, Inc (ENSC):
Ensysce shares gained 30.8% to $0.5430 in pre-market trading, following a jump of around 25% on Tuesday.*
NerdWallet, Inc. (NRDS):
NerdWallet shares rose 28.7% to $14.57 in pre-market trading after reporting better-than-expected fourth-quarter revenue results.*
LogicMark, Inc. (LGMK):
LogicMark shares climbed 26.4% to $0.1464 in pre-market trading.*
Reddit, Inc. (RDDT):
Reddit shares gained 24% to $101.36 in pre-market trading after releasing strong third-quarter financial results and issuing fourth-quarter revenue guidance above estimates.*
Polyrizon Ltd. (PLRZ):
Polyrizon shares gained 20.7% to $1.87 in pre-market trading, recovering after dipping 65% on Tuesday following its IPO pricing at $4.38 per unit.*
Snap Inc. (SNAP):
Snap shares rose 11.2% to $12.11 in pre-market trading after reporting better-than-expected third-quarter financial results.Losers
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O-I Glass, Inc. (OI):
O-I Glass shares dipped 18.4% to $10.15 in pre-market trading after reporting worse-than-expected third-quarter financial results and issuing FY24 adjusted EPS guidance below estimates.*
Spero Therapeutics, Inc. (SPRO):
Spero shares fell 18.3% to $1.07 in pre-market trading following the announcement that its Phase 2a proof-of-concept study of SPR720 did not meet its primary endpoint.*
Qorvo, Inc. (QRVO):
Qorvo shares fell 18% to $82.40 in pre-market trading after issuing weak guidance for the third quarter.*
GlycoMimetics, Inc. (GLYC):
GlycoMimetics shares fell 14.5% to $0.4189 in pre-market trading.*
Thryv Holdings, Inc. (THRY):
Thryv shares fell 13.7% to $15.80 in pre-market trading after pricing its upsized $80 million public offering of 5,715,000 common shares at $14/share.*
Tempest Therapeutics, Inc. (TPST):
Tempest shares fell 12.3% to $0.9645 in pre-market trading. The company recently entered into an agreement with Roche Holdings AG (RHHBY) to advance the evaluation of amezalpat (TPST-1120) in combination with atezolizumab (Tecentriq) and bevacizumab, the current standard of care for unresectable or metastatic hepatocellular carcinoma (HCC), into a Phase 3 trial for the first-line treatment of liver cancer.*
Ambow Education Holding Ltd. (AMBO):
Ambow shares declined 12.3% to $1.50 in pre-market trading.*
Shuttle Pharmaceuticals Holdings, Inc. (SHPH):
Shuttle shares declined 12.2% to $1.58 in pre-market trading as the company priced its $4.5 million public offering of 2,950,820 at-the-market under Nasdaq rules.*
Advanced Micro Devices, Inc. (AMD):
AMD shares fell 8.6% to $152.00 after reporting third-quarter financial results.*
Trump Media & Technology Group Corp. (DJT):
Trump Media & Technology Group shares fell 8.4% to $47.17 in pre-market trading, following a gain of around 9% on Tuesday.These pre-market movements offer investors a glimpse into the potential direction of the market and specific stocks as the trading day begins. Stay tuned for further developments and keep an eye on how these stocks perform throughout the day.
