FactSet Research Systems experienced a notable decline, with shares dropping 6% following disappointing earnings and a lowered full-year guidance. The company reported adjusted fourth-quarter earnings of $4.05 per share, falling short of the $4.13 expected by analysts. Additionally, its guidance for adjusted earnings for the full year ranged between $16.90 and $17.60, below the consensus estimate of $18.25. However, it is worth noting that fourth-quarter revenue exceeded expectations.
Wynn Resorts saw a 2% increase in its stock price after Stifel raised its price target to $145, citing favorable conditions in the international gaming market. This new forecast suggests a potential upside of over 17% from Wednesday’s closing price.
Allstate gained 4.8% after reporting catastrophe losses for July and August at $397 million, significantly lower than the FactSet consensus of $1.379 billion for the third quarter.
Intel made headlines with a remarkable 28% surge after Nvidia announced a $5 billion investment in Intel to co-develop data center and PC products. Nvidia itself saw a 3.5% increase.
Novo Nordisk jumped 6.3% following promising late-stage results for its once-daily obesity pill, which demonstrated significant weight reduction comparable to its Wegovy injectable weight-loss drug.
Bullish, a cryptocurrency exchange, experienced a 10.5% rise after releasing its first earnings report since going public in August. The company reported earnings of 93 cents per diluted share for its fiscal second quarter, with adjusted revenue reaching $57 million.
In contrast, Cracker Barrel faced a 7.2% decline after reporting adjusted earnings of 74 cents per share for its fiscal fourth quarter, which fell short of the 80 cents estimated by analysts. However, its revenue of $868 million did surpass the consensus forecast of $855 million.
StubHub saw a 4.5% drop, following a 6.4% decline in its debut on the New York Stock Exchange.
In the realm of quantum technology, stocks surged after IonQ signed an agreement with the Department of Energy to advance quantum technologies in space. IonQ rallied 4.6%, while Quantum Computing also saw gains. Rigetti Computing surged 15%, and D-Wave Quantum added 5.9%.
CrowdStrike jumped 5% in premarket trading, buoyed by solid guidance shared during an investor day. The company announced a strategic partnership with Salesforce and the acquisition of AI security firm Pangea.
However, Darden Restaurants, known for its Olive Garden chain, dropped 9% after first-quarter earnings missed expectations. Adjusted earnings of $1.97 per share fell short of the anticipated $2 per share, although revenue of $3.04 billion matched expectations.
In the vaccine sector, health-insurance trade group AHIP confirmed that health plans will continue to cover all government-recommended vaccines effective September 1, ensuring coverage amid potential changes in federal policy. Shares of Moderna and BioNTech rose 2%, while Pfizer also edged up.
Lastly, Amer Sports, a Finland-based sports and fitness equipment maker, rose 3.7% after raising its third-quarter guidance, now expecting year-over-year revenue growth in the high 20% range, compared to previous guidance of 20% growth. Conversely, Nucor, the steelmaker, lost 4.9% after projecting third-quarter earnings of $2.05 to $2.15 per share, below the FactSet consensus estimate of $2.57 per share, indicating expected earnings weakness across all operating segments compared to the second quarter.
