This morning, AXT, Inc. shares marked a remarkable surge of 36% during pre-market trading, following the release of the company’s impressive fourth-quarter financial results. The company surpassed market expectations, reporting a GAAP loss of 9 cents per share, outstripping the anticipated loss of 15 cents per share. Furthermore, AXT’s quarterly sales amounted to $20.43 million, exceeding the estimated $17.57 million. This unexpected upturn sent AXT shares soaring to $3.10 in pre-market trading, signaling an electrifying start to the day’s trading activities.
In addition to AXT’s stellar performance, several other stocks have been making waves in the pre-market trade, with significant movements observed among select companies.
Rising Stars
- Telesis Bio, Inc. (TBIO) observed a remarkable surge of 88% to $0.8506 following the grant of EUR Patent #3503915 for “Genetically Engineered Vibrio Natriegens.”
- Intuitive Machines, Inc. (LUNR) experienced a surge of 63.2% to $13.51 after receiving applause from SpaceX CEO Elon Musk for their pioneering moon landing, marking a monumental achievement in U.S. space exploration.
- Ocean Biomedical, Inc. (OCEA) surged by 53% to $0.84, exhibiting a robust performance in pre-market trading.
- BowFlex Inc. (BFX) witnessed a substantial leap of 41.8% to $0.2382 in pre-market trading, rebounding after a 20% decline on Thursday.
- Carvana Co. (CVNA) demonstrated an impressive 26.4% increase to $66.22 following the release of the company’s fourth-quarter financial results.
- Beneficient (BENF) recorded a noteworthy gain of 22% to $0.2681 in pre-market trading. This surge came shortly after Beneficient posted a third-quarter loss of $1.98 per share on Feb. 13.
- Maravai LifeSciences Holdings, Inc. (MRVI) exhibited a significant rise of 20.9% to $6.18 in pre-market trading after reporting better-than-expected fourth-quarter financial results.
- Trinity Place Holdings Inc. (TPHS) achieved a notable 15.9% increase to $0.2098 in pre-market trading following the release of their fourth-quarter results.
- Block, Inc. (SQ) experienced a surge of 12.7% to $76.62 in pre-market trading. Although Block reported disappointing earnings for the fourth quarter, the company’s sales exceeded estimates. Furthermore, Block anticipates first-quarter gross profit of $2.0 billion to $2.02 billion, signaling a potential 24% year-over-year increase at the midpoint.
Underperforming Stocks
- Charge Enterprises, Inc. (CRGE) encountered a substantial drop of 49.5% to $0.0368 in pre-market trading following the decision of Nasdaq Hearings Panel to delist common shares.
- Applied Optoelectronics, Inc. (AAOI) witnessed a notable decline of 38.2% to $12.58 in pre-market trading after reporting fourth-quarter results.
- Ascent Solar Technologies, Inc. (ASTI) saw a decline of 20.6% to $0.5001 in pre-market trading.
- Smith Micro Software, Inc. (SMSI) recorded a drop of 20.5% to $0.65 following weak quarterly sales.
- La Rosa Holdings Corp. (LRHC) experienced a decline of 17.8% to $2.25 in pre-market trading, despite a significant 96% surge on Thursday. The company disclosed the acquisition of a 100% interest in the La Rosa Realty Winter Garden franchise in Florida.
- indie Semiconductor, Inc. (INDI) reported a decline of 15% to $5.86 in pre-market trading following weak quarterly sales.
- ModivCare Inc. (MODV) posted a decrease of 14.2% to $37.64 in pre-market trading after the company issued a weak sales forecast for the first quarter.
- Ardelyx, Inc. (ARDX) fell by 13.3% to $7.65 in pre-market trading after reporting mixed fourth-quarter financial results.
- Energy Focus, Inc. (EFOI) recorded a decline of 12.5% to $2.04 in pre-market trading.
- Booking Holdings Inc. (BKNG) observed a drop of 9.1% to $3,545.61 in pre-market trading following the company’s fourth-quarter financial results.
For more captivating stories like this, keep your eyes peeled for updates at Benzinga. Don’t miss out on the latest insights and developments in the stock market!
