TipRanks compiled a list of the largest pre-market stock movements on Thursday.
Using TipRanks’s new Top Stock Gainers/Losers page, we’ve identified the top five pre-market stock movers, as detailed below.
5 Biggest Movers
Global telemedicine and virtual healthcare company Teladoc Health, Inc. (TDOC) was the biggest laggard in the pre-market trading session because the stock had fallen more than 40% at the time of writing. Negative sentiment followed the first quarter in 2022 net loss, disappointing earnings, and a sad outlook provided by the company. For Q2 2022, the company projected revenue in the range of $ 580 million to $ 600 million. In addition, expect a net loss in the range of $ 0.72 to $ 0.60 per share. For 2022, the company expects revised revenue of $ 2.4 billion to $ 2.5 billion, while a net loss per share is expected to be between $ 43.50 and $ 43.
Another loser, Align Technology, Inc. (ALGN) has lost around 21.5% in pre-market trading at the time of writing. The disappointing first quarter of 2022 results posted by the global medical equipment company have caused concerns among investors. The company did not obtain consensus estimates for both revenue and earnings.
Meanwhile, social networking giant Meta Platforms, Inc. (FB) rose 17% in the pre-market session to the last watch. The buoyant earnings in the first quarter of 2022 drove investor optimism despite disappointing earnings and a sad outlook on earnings in the June quarter. Notably, Facebook’s monthly active users (MAU) were 2.94 billion as of March 31, 2022, up 3% year-on-year. For Q2 2022, the company expects revenue in the range of $ 28 billion to $ 30 billion, less than the agreed -upon estimate of $ 30.6 billion.
Another acquisition, Charles River Laboratories International, Inc. (CRL) gained 13% in the pre-market session at the time of writing. The price surge followed a 3.14% rise at Wednesday’s close. The early-stage contract research company launched LogicaTM, an artificial intelligence (AI) powered drug solution, in partnership with Valo Health, Inc. The solution is likely to translate “clients’ biological insights into optimized preclinical assets.”
The software company ServiceNow, Inc. (NOW) rounded off the list. It recorded more than 9% jump in pre-market trading at the time of writing. Positive sentiment followed the company’s buoyant results in the first quarter of 2022, which exceeded expectations on earnings and earnings. ServiceNow reported EPS of $ 1.73 per share, above Street’s estimate of $ 1.70. Additionally, revenue for the quarter reached $ 1.72 billion, beating the consensus estimate of $ 1.7 billion. For Q2 2022, the company expects subscription revenues in the range of $ 1.67 billion to $ 1.675 billion.
Continue to watch this space for possible volatility when the market opens. Tomorrow, we will have another up-to-date piece on stock Pre-Market Movers …
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