Today's Pre-Market Movers and Top Ratings | FDX, NKE, QUBT and more

Movers and Shakers joined discussion · Mar 21 20:23

Morning Movers

Gapping Up

$Luminar Technologies (LAZR.US)$ jumped 7.2% after its fourth-quarter loss was less than anticipated and its $22.5 million in revenue exceeded the $17.8 million forecast. The company also reported an adjusted gross profit of $14 million, against Wall Street's expectation of a $12 million loss.

$Alnylam Pharmaceuticals (ALNY.US)$ increased 4.5% Premarket premarket after FDA expands approval for drug to treat rare heart disease.

Gapping Down

$FedEx (FDX.US)$ dropped 8.1% as it cut its FY25 forecast again amid U.S. industrial weakness, with expected revenue flat or slightly down and adjusted EPS of $18.00-$18.60, missing both its previous forecast and the $19.18 consensus. Capital spending was reduced to $4.9B to enhance efficiency.

$Nike (NKE.US)$ fell 6.3% after the company announced an expected sales decline this quarter, overshadowing its recent earnings that exceeded analysts' forecasts on both top and bottom lines.

$Quantum Computing (QUBT.US)$ fell 10.28% after $NVIDIA (NVDA.US)$ CEO Jensen Huang questioned the near-term viability of the quantum computing industry. The sell-off followed Huang’remarks at GTC Conference. His remarks exacerbated declines in the sector, previously impacted by his view that practical quantum computers are decades away. $D-Wave Quantum (QBTS.US)$ and $Rigetti Computing (RGTI.US)$ each dropped over 4%, while $IonQ Inc (IONQ.US)$ decreased by 1.7%.

Shares of $NIO Inc (NIO.US)$, the Chinese electric-vehicle maker, were down 4.3% after missing Wall Street's fourth-quarter revenue forecast and issuing disappointing guidance.

$Micron Technology (MU.US)$ fell 3.1% despite exceeding Wall Street's fiscal second-quarter earnings and revenue estimates and tripling its data-center revenue year-over-year. The company also forecasted better-than-expected third-quarter revenue of around $8.8 billion, above analysts' expectations of $8.48 billion.

Analyst Rating