Using TipRanks’ Top Stock Gainers/Losers tool, we’ve compiled a list of the top stock moves ahead of Tuesday’s market, which is as follows:
The five big engines
Topping the list is Ginkgo Bioworks Holdings, Inc. (NYSE: DNA), which was up 16.1% early Tuesday. The rise may have been driven by the company’s encouraging results for the second quarter of 2022. Revenue rose 231% year-over-year to a record $145 million in the June quarter, beating expectations of $77.63 million. dollars The company also revised upward its 2022 revenue expectations to $425-440 million from $375-390 million.
New York-based Compass, Inc. (NYSE: COMP) was trading down 13.5% at last check. Shares of the technology-enabled real estate brokerage are falling on disappointing results for the second quarter of 2022. Revenue for the quarter grew 4% year-over-year to $2.0 billion, but missed analysts’ estimates of $2.12 billion dollars The company’s net loss was 24 cents per share versus last year’s loss of 2 cents per share and the consensus net loss estimate of 17 cents per share.
Shares of digital banking platform Nu Holdings Ltd. (NYSE: NOW) were trending 11.9% higher at the time of writing. NU shares rose 10.1% in yesterday’s trading session after Japanese conglomerate and technology investor SoftBank announced the purchase of 22 million shares of the company worth nearly 82.3 millions of dollars. In addition, the company reported strong results for the second quarter of 2022, after the market closed. It saw a 230% year-over-year increase in total revenue to $1.2 billion, beating analysts’ expectations of $907.82 million.
Shares of AST SpaceMobile, Inc. (NASDAQ: ASTS) were down 10.9% in Tuesday’s premarket trading session. However, the stock was up nearly 9.6% in regular trading hours on Monday. While investors are optimistic that the company launched a satellite in mid-September, AST’s trading updates for the second quarter of 2022 failed to keep their interests intact, due to increased of the costs.
Last on the list is The New York Times Company (NYSE: NOW), which was trading down nearly 9.7% in Tuesday’s premarket session. There doesn’t seem to be any specific reason that could have caused the stock to drop. However, a few days ago, the US media company’s shares were rising after activist investor ValueAct revealed a 6.7% stake in the company.
Continue to watch this space for potential volatility at the market open. Tomorrow, we’ll have another updated piece on the Movers pre-market shares…
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