Accolade, Beauty Health, and more Companies Making Stock Movements
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While many companies are demonstrating different kinds of performances in the stock markets, the first company making significant stock movement is Accolade. However, the company seems to have experienced a negative trend. The reports reveal that the stock prices for the game developing company have experienced an over a 7.8% plunge in premarket trading. The share price loss was recorded after the company went ahead and shared its earnings report for the recent quarter. The company reported that in the recent quarter, it ended up incurring 97 cents per share loss. However, the Wall Street analysts had anticipated that the company’s loss would be 56 cents per share.
This means that Accolade’s actual quarterly loss was much wider than what the analysts had predicted in the first place. Despite the broader quarterly loss, the company’s revenue seems to have gone in the right direction. The company reported that for the particular quarter, the revenue it generated was the top revenue it had generated ever. The company has also provided its guidance for the upcoming quarters. In the guidance, the trends Accolade has shown are almost the same as the recent quarter. However, this time, the firm has widened the quarterly loss, and it has also proceeded with anticipating a higher revenue.
The next company is Beauty Health that has experienced a 2% rise in stock prices in premarket trading. The rise was observed in the company’s share prices after the analysts at Stifel Financial went ahead and upgraded the stock status of the beauty product maker. The analysts reportedly upgraded the stock status of Beauty Health to “buy”. Following the up-gradation of the stock status, the analysts at Stifel Financial have also increased the price target for Beauty Health’s stock to $33 per share. This means that the analysts anticipate a 24% rise in the company’s share prices.
Sirius XM comes next in the list that has reportedly experienced a 1.4% drop in share prices. Sirius XM is one of the major operators of satellite radio systems. The fall in the share prices for Sirius XM came right after the JPMorgan analysts downgraded the stock status of the company from “overweight” to “neutral”. According to JPMorgan analysts, auto sales have experienced a drop. Similarly, the investments in the satellites sector have also experienced a slight fall.
Vaxart comes next in the list that has experienced a share price increase by 8.5% in premarket trading. The drugmaker has experienced a rise after sharing positive and promising results for its oral COVID-19 testing. The company has revealed that with the new vaccine in the market, the virus’s airborne transmission will be controlled and minimized.
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