The Most Volatile Stocks Premarket
Powell’s speech will be closely scrutinized to gauge the overall health of the US economy and look for any indications of a slowdown in the central bank’s rate hike pace. The benchmark S&P 500 index is poised for its second month of gains due to expectations that the Fed will now raise rates in smaller increments and recent data showing a mild cooling in prices. In the last two months, the Dow Jones Industrial Average has risen 17.5%, while the Nasdaq has risen 4.2%.
Hormel (HRL)
After reporting a mixed quarter, the food producer’s stocks fell 6.4% in premarket trading. Earnings exceeded expectations, but sales fell short of Wall Street projections. Hormel issued a weaker-than-expected outlook, predicting continued volatility and high costs.
WOOF (Petco)
Petco’s stocks quarterly earnings of 16 cents per share were in line with Wall Street expectations, but revenue was slightly higher. A 4.1% increase in comparable store sales exceeded the FactSet consensus estimate of 3.5%. In premarket trading, the stock of the pet products retailer rose 8%.
CrowdStrike (CRWD)
CrowdStrike fell 17.6% in premarket trading after the cybersecurity company’s subscription numbers fell short of analyst expectations.
State Street (STT)
It gained 3.5% in premarket trading after announcing an agreement to cancel its planned $3.5 billion acquisition of Brown Brothers Harriman’s Investor Services unit. State Street cited difficulties in obtaining regulatory approval for the transaction.
Biogen (BIIB)
Biogen stocks rose 3.6110% in premarket trading after partner Esai stated that two deaths in an Alzheimer’s drug trial could not be attributed to the treatment. Biogen’s stock dropped earlier this week after news of the second death broke.
NetApp (NTAP)
NetApp fell 10.9% in the premarket, which reported better-than-expected quarterly earnings.
Workday (WDAY)
Stocks of Workday rose 9.6% in after-hours trading after the maker of human resources software raised its outlook and announced a share repurchase program. Workday also reported stronger-than-expected top and bottom-line results for the most recent quarter.
Hewlett Packard Enterprise (HPE)
After the enterprise computing company reported record quarterly sales and provided positive revenue guidance, Hewlett Packard Enterprise (HPE) saw a 1.9% increase in premarket trading.
XPeng
The opening price of XPeng shares on Wednesday was 15% higher. Although the Chinese EV manufacturer had some difficulties in the third quarter, investors appeared to believe that things would get better.
The third quarter’s unit sales figures for XPeng were inconsistent. The total number of deliveries, 29,570, increased by 15% year over year but declined for the third consecutive quarter. XPeng’s P7 smart sports sedan saw an increase in deliveries of nearly 800 units over the previous three months, but the 16,776 P7s delivered were down nearly 3,000 from last year.
