Guidewire Software's stock surged nearly 5% in premarket trading after Goldman Sachs initiated coverage with a buy rating. The financial giant's endorsement added momentum to Guidewire's market presence, highlighting its potential for investors.
Meanwhile, GE Aerospace experienced a remarkable rise, gaining over 9% after posting impressive fourth-quarter results. The company reported adjusted earnings per share of $1.32 on revenue of $9.88 billion, surpassing analyst estimates. Analysts polled by LSEG had expected earnings of $1.04 per share and $9.51 billion in revenue.
Conversely, AST SpaceMobile witnessed a sharp decline, with shares plummeting 17% following the announcement of a $400 million convertible note offering. The move raised concerns among investors about potential dilution and financial stability.
Electronic Arts saw its stock pull back by 17% after it reduced its guidance for both the third quarter and full year. The gaming giant's revised forecasts prompted caution among shareholders, impacting its market performance.
American Airlines also faced challenges, with shares sinking 8% as the company projected an adjusted loss of 20 cents to 40 cents per share for the first quarter. Despite reporting an earnings and revenue beat for the fourth quarter, the forecasted loss weighed heavily on investor sentiment.
Plexus experienced a 9% drop in stock value after issuing a disappointing revenue outlook for the second quarter. The company anticipates revenue between $960 million to $1 billion, falling short of analysts' expectations of $1.60 billion, according to FactSet.
In contrast, Alaska Air Group's stock advanced approximately 2% following better-than-expected quarterly results. The airline company forecasted a smaller-than-anticipated loss per share of 70 cents to 50 cents in the current quarter.
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