Discover Financial Faces Lower Q4 Profit, Joins Plug Power And Other Big Stocks In Thursday’s Pre-Market Session

Published On: January 18, 2024 5:36 am

Market Movement

The future of U.S. stock bourses presented a mixed bag this morning, with Nasdaq futures posting an approximate gain of 50 points on Thursday.

The shares of Discover Financial Services (DFS) took a nosedive in Thursday’s pre-market trading after the company revealed a staggering 62% plummet in fourth-quarter profits on Wednesday.

Discover reported a quarterly earnings of $1.54 per share, falling significantly below the Street’s estimated $2.52. Revenue came in at $4.196 billion, exceeding analyst expectations of $4.10 billion, as reported by Benzinga Pro.

Consequently, Discover Financial Services shares plummeted by 10.1% to $97.80 in pre-market trading.

Stocks On The Move

On a brighter note, some other significant stocks recorded gains in today’s pre-market trading session:

Plug Power Inc. (PLUG) shares dipped by 15.2% to $2.32 in pre-market trading. The company disclosed an at-market issuance sales agreement with B. Riley Securities for the sale of up to $1 billion in stock, causing the drop.
Nukkleus Inc. (NUKK) fell 12.8% to $1.231 in pre-market trading. The company made public its intention to expand its investment in Jacobi Asset Management, known for sponsoring Europe’s first approved Bitcoin spot ETF.
Talos Energy Inc. (TALO) declined by 5.1% to $11.90 in pre-market trading following a $351-million upsized underwritten public offering of 30 million common stock.
Spirit Airlines, Inc. (SAVE) shares fell 3.9% to $5.90 in pre-market trading after a federal judge blocked JetBlue Airways from acquiring the company, further fueling its downward momentum after a 22% drop on Wednesday.
On Holding AG (ONON) fell 2.6% to $26.99 in pre-market trading.
Ballard Power Systems Inc. (BLDP) shares fell 2.5% to $3.10 in pre-market trading.
e.l.f. Beauty, Inc. (ELF) shares declined 2.1% to $159.78 in pre-market trading. Peabody Energy will replace e.l.f. Beauty in the S&P SmallCap 600, effective prior to the opening of trading on Jan. 23. e.l.f. Beauty will replace Spirit Realty Capital in the S&P MidCap 400.