Premarket Movers: Applied Digital, Mosaic, Levi Strauss & More Stocks

Bassyonni

ago 3 hours

Premarket Movers: Applied Digital, Mosaic, Levi Strauss & More Stocks

Several companies are making headlines in premarket trading today, showcasing significant shifts in their stock performances.

Applied Digital Sees Soaring Revenue

Applied Digital’s stock jumped 30% following a report showing an 84% increase in revenue for its fiscal first quarter compared to the same period last year. This surge emphasizes the firm’s growth trajectory within the data center industry.

Stellantis Reports Third-Quarter Gains

Stellantis, the French-Italian-American automaker, reported a 13% boost in third-quarter shipments. This increase reflects growing demand for new models, particularly in North America. As a result, the company’s shares rose by 1.3%, signaling a potential recovery after a series of declining sales periods.

Synchrony Financial Upgraded

Shares of Synchrony Financial climbed 1% after HSBC upgraded the stock from hold to buy. The financial institution highlighted Synchrony as a top choice within the consumer finance sector.

Alibaba Faces Continued Decline

In stark contrast, Alibaba’s stock fell nearly 2% amid a widespread sell-off in the Chinese market. This decline marks the sixth consecutive session of losses for the e-commerce titan.

Doximity Downgraded by JPMorgan

Doximity, the medical digital platform, experienced a nearly 5% drop in its stock value. JPMorgan downgraded the company from neutral to underweight, citing concerns over its valuation and the competitive landscape, alongside risks associated with advertising spending in the digital pharmaceutical sector.

Mosaic Suffers Production Setbacks

Mosaic’s shares fell over 9% after the company reported disappointing preliminary volumes for the third quarter. Issues at its Riverview sulfuric acid plant and utility interruptions at Bartow negatively affected production in mid-September.

Levi Strauss Issues Weak Earnings Guidance

Shares of Levi Strauss dropped more than 7% after the company provided weaker-than-expected earnings guidance for the fourth quarter. The firm anticipates earnings between 36 cents and 38 cents per share, while analysts had forecasted an average of 41 cents per share.