Rentokil Initial plc (RTO)
In the pre-market trading session, shares of Rentokil Initial plc dropped 12.9% to $31.09. The company revised its forecast for North America’s annual adjusted operating margin to a range of 18.5% to 19%, down from the previous estimate of around 19.5%. This news has contributed to the decline in the stock’s value.
VMware, Inc. (VMW)
VMware, Inc. saw a decline of 6.8% in pre-market trading, with shares falling to $155.00. This drop is tied to a potential delay in China’s State Administration of Market Regulation approving Broadcom’s purchase of VMware. The Financial Times reported on the anticipated delay, which has negatively impacted investor sentiment.
Ardelyx, Inc. (ARDX)
Shares of Ardelyx, Inc. fell 6.7% to $3.65 in pre-market trading. On a positive note, the company’s shares had gained over 13% the previous day after the FDA approved XPHOZAH. However, despite this approval, the stock has seen a decline in the pre-market session.
Tesla, Inc. (TSLA)
Tesla, Inc. experienced a 5.3% decline in pre-market trading, with shares dropping to $229.83. The company reported weaker-than-expected earnings and sales results for the third quarter. Additionally, Tesla announced that pilot production of the Cybertruck began in the third quarter, with deliveries expected in November 2023. These factors have contributed to the downward movement of the stock price.
Rollins, Inc. (ROL)
Rollins, Inc. is expected to release its third-quarter financial results after the market closes on October 25, 2023. However, in the pre-market session, shares of Rollins fell 5.3% to $34.01. Investors may be reacting to anticipation and uncertainty leading up to the release of the earnings report.
Foot Locker, Inc. (FL)
In pre-market trading, shares of Foot Locker, Inc. declined 5.2% to $20.81. The reasons for this decline are not specified in the source text. Investors may be reacting to various factors such as market sentiment, company news, or sector performance.
Iovance Biotherapeutics, Inc. (IOVA)
Shares of Iovance Biotherapeutics, Inc. fell 5.1% to $3.17 in pre-market trading, following an 8% decline the previous day. The factors driving these declines are not explicitly mentioned in the source text. Investors may be selling off their positions due to negative sentiment or other company-specific news.
Nokia Oyj (NOK)
Nokia Oyj reported downbeat quarterly results and announced plans to cut up to 14,000 jobs in order to lower costs. As a result, in pre-market trading, shares of Nokia slipped 4.4% to $3.24. Investors may be reacting to the negative news surrounding the company’s financial performance and restructuring efforts.
Aehr Test Systems (AEHR)
In the pre-market session, shares of Aehr Test Systems declined 3.1% to $32.00. The reasons for this decline are not specified in the source text. Investors may be reacting to various factors such as market sentiment, company news, or sector performance.
These pre-market declines in several major stocks reflect the current market sentiment and investor reactions to the specific news and events surrounding each company. Investors and traders should stay informed and monitor these stocks as the market opens to assess further price movements and potential investment opportunities.