Using TipRanks’ Top Stock Gainers/Losers tool, we’ve compiled a list of the top stock moves ahead of Friday’s market, which is as follows:
The five big engines
Atlas (NYSE: ATCO) tops the list with its shares trading up 22.2% early Friday. Shares of the global asset manager rose on receipt of a non-binding takeover offer from Poseidon Acquisition Corp. Poseidon has offered to purchase Atlas common stock at $14.45 per share in cash.
Shares of cybersecurity company Cloudflare, Inc. (NYSE: NET) traded up 19.3% during Friday’s premarket trading session. The rise was triggered by strong results for the second quarter of 2022. Revenue of $234.5 million beat the consensus estimate of $227.3 million. The company reported breakeven earnings for the quarter versus the consensus loss estimate of at least $0.01 per share. Additionally, Cloudflare has raised its revenue outlook for the full year 2022.
Doximity, Inc. (NYSE: DOCS), a leading digital platform for U.S. medical professionals, was trending 18.1% lower in early trading Friday, largely due to disappointing guidance for fiscal 2023. The company revised its FY23 guidance when it reported fiscal first-quarter results on Thursday. It now expects revenue to range between $424 million and $432 million, down from the $454 million and $458 million previously projected.
Shares of Las Vegas-based Boyd Gaming Corporation (NYSE: WORLD) traded down 14.1% at the last check. There doesn’t seem to be any definitive reason that could have caused the gaming and hospitality company’s share price to fall.
Last on the list is DoorDash Inc. (NYSE: DASH), which was up 11.6% at the time of writing. The company’s second-quarter earnings beat expectations on strong delivery demand and led the stock to rally. The San Francisco-based company’s revenue grew 30% year over year to $1.6 billion, beating analysts’ estimate of $1.52 billion.
Continue to watch this space for potential volatility at the market open. On Monday, we’ll have another updated piece on premarket moves in stocks…
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