HomeMarket NewsMicro Cap Stocks PriceSmart Inc. Reports Impressive Earnings, Driving...

PriceSmart Inc. Reports Impressive Earnings, Driving Bullish Pre-Market Session for Big Stocks PriceSmart Inc. Reports Impressive Earnings, Driving Bullish Pre-Market Session for Big Stocks

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U.S. stock futures painted a rosy picture with Nasdaq futures up by around 60 points this Wednesday morning.

PriceSmart, Inc. (NASDAQ: PSMT) joined the bullish brigade, posting stellar earnings for its first quarter.

The company reported adjusted earnings of $1.24 per share, trumping market predictions of $1.09 per share, while its quarterly sales stood at $1.17 billion, slightly surpassing estimates of $1.16 billion, data from Benzinga Pro revealed.

Unsurprisingly, PriceSmart shares leaped 10% to $80.20 in pre-market trading, signaling a strong start to the day for the company.

Several big players also stood out in today’s pre-market trading session:

  • Microvast Holdings, Inc. (NASDAQ: MVST) saw its shares surge 13.8% to $1.40 in pre-market trading, rebounding from a 5% dip on Tuesday.
  • SMART Global Holdings Inc. (NASDAQ: SGH) witnessed a 10.7% rise to $20.45 in pre-market trading after announcing better-than-expected first-quarter earnings and approval of a $75 million share repurchase authorization.
  • TG Therapeutics, Inc. (NASDAQ: TGTX) climbed 9.1% to $22.93 in pre-market trading following the company’s recent agreement with Precision BioSciences to acquire a worldwide license to Precision’s Azercabtagene Zapreleucel (azer-cel), a promising allogeneic CD19 CAR T cell therapy program for autoimmune diseases and non-oncology indications.
  • Intuitive Surgical, Inc. (NASDAQ: ISRG) watched its shares rise by 5.3% to $348.01 in pre-market trading after announcing a preliminary revenue of $1.93 billion for the fourth quarter, outstripping market estimates of $1.87 billion.
  • Toast, Inc. (NYSE: TOST) gained 5.1% to $19.75 in pre-market trading.
  • Fox Factory Holding Corp. (NASDAQ: FOXF) surged 4.7% to $70.00 in pre-market trading.
  • Sony Group Corporation (NYSE: SONY) rose 3.6% to $95.42 in pre-market trading after Indian media conglomerate Zee Entertainment Enterprises reaffirmed its commitment to a merger with Sony Group’s local arm in India, dispelling recent speculations about a potential collapse of the $10 billion deal.

Now Read This: Markets Turn More Bullish Ahead Of Inflation Data; Fear & Greed Index Remains In β€˜Greed’ Zone

Don’t forget to check out our premarket coverage here


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