International Business Machines Corporation’s (IBM) shares soared in today’s pre-market activity, backed by robust fourth-quarter results.
IBM reported a 4% year-over-year revenue increase to $17.38 billion for the fourth quarter, surpassing the consensus estimate of $17.3 billion. The company credited the strong revenue performance to the sustained uptake of its hybrid cloud and AI offerings.
In terms of earnings, IBM posted $3.87 per share for the quarter, outshining the $3.78 per share predicted by analysts.
Consequently, IBM’s pre-market shares spiked by 7.4% to $186.82, reflecting investor enthusiasm for the company’s positive outcomes.
Joining IBM in the pre-market fervor are a variety of stocks experiencing notable movements.
Featured Gainers
- C3is Inc. (CISS) surged 48.6% to $0.1970 in pre-market trading after an upsized $7.0 million underwritten public offering, handled by Aegis Capital Corp.
- Charge Enterprises, Inc. (CRGE) rose 42% to $0.2090 in pre-market trading following a 6% decline on Wednesday.
- Acutus Medical, Inc. (AFIB) soared 39% to $0.3085 in pre-market trading, buoyed by the granting of a European patent.
- Onconetix, Inc. (ONCO) achieved a 37.5% gain to $0.2037 in pre-market trading after a slight decrease on Wednesday.
- AgeX Therapeutics, Inc. (AGE) climbed 24.3% to $0.50 in pre-market trading.
- Castellum, Inc. (CTM) surged 21.4% to $0.40 in pre-market trading after a slight dip on Wednesday.
- Globavend Holdings Limited (GVH) increased 19.3% to $1.17 in pre-market trading following a 9% incline on Wednesday.
- American Superconductor Corporation (AMSC) rose 14.7% to $11.17 in pre-market trading, bolstered by better-than-expected third-quarter financial results and upbeat fourth-quarter revenue guidance.
- Nokia Oyj (NOK) jumped 7.9% to $3.68 in pre-market trading after the release of its fourth-quarter results and 2024 forecast.
Featured Losers
- Akoustis Technologies, Inc. (AKTS) experienced a 27.6% drop to $0.51 in pre-market trading following its proposed public offering of common stock and second-quarter revenue outlook.
- VS MEDIA Holdings Limited (VSME) declined 20.1% to $0.5186 in pre-market trading after a substantial surge on Wednesday.
- 1847 Holdings LLC (EFSH) fell 19.1% to $1.61 in pre-market trading as it secured a $750,000 credit facility for its Wolo Manufacturing subsidiary.
- CCC Intelligent Solutions Holdings Inc. (CCCS) dropped 18.3% to $9.00. CCC Intelligent Solutions announced an upsized secondary offering of 22 million shares of common stock earlier in the month.
- Phunware, Inc. (PHUN) decreased by 15.6% to $0.2919 in pre-market trading after a ~20% dip on Wednesday.
- Columbia Banking System, Inc. (COLB) plummeted 14.3% to $21.94 in pre-market trading following worse-than-expected fourth-quarter financial results.
- SuperCom Ltd. (SPCB) fell 13.2% to $0.20 in pre-market trading after a 5% drop on Wednesday.
- Hexcel Corporation (HXL) experienced an 8.2% decrease to $65.78 in pre-market trading following weak quarterly results.
- Tesla, Inc. (TSLA) dropped by 7.8% to $191.53 in pre-market trading after reporting subpar fourth-quarter earnings and sales.
- LG Display Co., Ltd. (LPL) dipped 7% to $4.78 in pre-market trading following the release of its fourth-quarter financial results.
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