At dawn today, U.S. stock futures sat on a seesaw, with the Nasdaq showing a modest 0.2% incline on this fine Tuesday morning.
In a cruel turn of events, Maxeon Solar Technologies, Ltd. MAXN felt the sting of the market’s displeasure in the pre-market hours.
Maxeon Solar’s preliminary data for the fourth quarter forecasted revenue around $229 million, missing the market’s anticipation set at $235.959 million.
The aftermath? A sharp 16.8% plummet in Maxeon Solar Technologies’ shares, now hovering at $2.27 as the day unfolds.
The financial battlefield was not kind this morning. Here lies a list of formidable stocks, bruised in the pre-market skirmish:
- Neogen Corporation NEOG saw its shares swoop down by 17% to $11.93 after disclosing disappointing third-quarter FY2024 earnings and slashing its 2024 guidance.
- Tilray Brands, Inc. TLRY stumbled 12.7% to $2.26 following a third-quarter miss, coupled with the revelation that positive adjusted free cash flow for the full fiscal year 2024 is but a distant dream.
- DigiAsia Corp. FAAS dipped by 9.9% to $7.00 in pre-market hours, a stark contrast to its 20% surge the day prior.
- InMode Ltd. INMD furniture is resting 9.5% lower at $17.91 on the pre-market shelf. Anticipation is high for its financial results for the first quarter, scheduled for unveiling before the crack of dawn on Thursday, May 2, 2024.
- GCT Semiconductor Holding, Inc. GCTS slid 4% to $6.72 in early trading after a disheartening 14% descent the day before. The recent MOU inked between GCT Semiconductor and Aramco is intended to fast track the development of the 4G and 5G ecosystem in Saudi Arabia.
- Rocket Companies, Inc. RKT saw its shares dip by 4% to $13.29 pre-market, following a 7% surge in the previous trading session.
- ChargePoint Holdings, Inc. CHPT shaved off 3.3% to $1.79 in pre-market trading. Analyst Mark Delaney of Goldman Sachs administered a downgrade from Neutral to Sell, while also snipping the price target from $2 to $1.5.
Before you turn the page, don’t miss this: Investor Optimism Improves; Fear & Greed Index Remains In ‘Greed’ Zone
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