solarseven
Stock futures are mixed in the early hours of Thursday following the latest retail sales report and retail earnings that will continue today
with Walmart (WMT).
Here are some of Thursday’s biggest stock movers:
Biggest stock gainers
CRISPR Therapeutics’ (NASDAQ:CRSP) shares rose 6% after the UK Medicines and Healthcare Products Regulatory Agency (MHRA) granted conditional marketing authorization for CASGEVY™, a CRISPR/Cas9 gene-edited therapy for sickle cell disease (SCD) and transfusion-dependent beta thalassemia (TDT). The therapy is authorized for eligible patients aged 12 and older with SCD with recurrent vaso-occlusive crises, or TDT, who cannot find a HLA-matched related hematopoietic stem cell donor.
Biggest stock losers
- Although Cisco Systems (NASDAQ:CSCO) outperformed expectations in 1Q24 earnings, its shares tumbled by over 11% as the networking giant revised its full-year sales forecast to $53.8B-$55B, down from the earlier estimate of $57B-$58.2B, citing a slowdown in new orders compared to the consensus of $57.84B. Additionally, the company anticipates FY2024 adjusted EPS between $3.87 and $3.93 per share, falling short of the consensus of $4.05.
- Shares of Palo Alto Networks (NASDAQ:PANW) slipped over 5% after the company reported upbeat Q1 earnings but cut the full-year billing forecast. The revised outlook for FY2024 anticipates total billings between $10.7B and $10.8B, down from the previous estimate of $10.9B to $11B. Revenue is forecasted in the range of $8.15B to $8.20B, slightly below the estimate of $8.19B, while non-GAAP net income per share is expected in the range of $5.40 to $5.53, surpassing the estimate of $5.34 per share.
- Maxeon Solar Technologies (NASDAQ:MAXN) shares fell about 8% after the company reported a larger-than-expected Q3 loss, and revenue estimates for Q4 fell short of expectations. Q3 GAAP loss grew to $108.2M, sales declined 17% to $227.6M, and shipments increased marginally to 628 MW. Revenue projection for Q4 is $220M-$260M, which is less than the $273.8M consensus, with sales of 610-650 MW and adjusted EBITDA of $27M-$37M. Due to declining residential demand and unfavorable market circumstances, full-year guidance has been reduced to forecast sales of $1.11B–$1.115B and adjusted EBITDA of $4M–$14M.