Stocks making the biggest move premarket: SEDG, POOL, DIS
Here are the stocks making headlines before Wall Street’s opening bell on Tuesday. SolarEdge Technologies â The green energy stock fell more than 17% after announcing a new debt offering. SolarEdge said it will offer $300 million worth of convertible notes, due 2029. Pool Corp â Shares sank 12.4% after the wholesale pool supplies distributor revised full-year earnings guidance postmarket Monday. Pool now anticipates full-year earnings per share between $11.04 and $11.44, down from its prior guidance of $13.19 to $14.19 and short of the FactSet consensus estimate of $13.05. Competitor Leslie’s Inc. retreated more than 4% in sympathy. Carnival Corp. â The cruise stock rose after Carnival’s second-quarter report beat estimates on the top and bottom lines. Carnival generated 11 cents in adjusted earnings per share, while analysts surveyed by LSEG were looking for a loss of 2 cents. The stock opened about 4% higher. Sea Limited â U.S. shares of the Singapore-based consumer internet stock slipped 3.9% on the back of a JPMorgan downgrade to neutral from overweight. JPMorgan said the stock could be hurt by an increase in competition. Penn Entertainment â Shares of the casino operator and online gambling platform dipped 2% after Raymond James downgraded the stock to market perform from outperform, saying the “current valuation is appropriate” after recent gains. The stock is down 25% this year but rallied more than 10% this month. Walt Disney â Goldman Sachs initiated coverage of the media stock with a buy, pointing to its sports rights portfolio and theme parks as positives for the company. Disney shares rose less than 1%. Microsoft â Shares of the Xbox owner fell less than 1% after the European Union accused it of breaking antitrust rules with its bundled software products. Enerpac Tool Group â The industrial supplies stock fell more than 9% after reporting sales declined year over year in the fiscal third quarter. The company also lowered its net sales forecast for the year to $585 million from $590 million. Previous guidance called for between $590 million and $605 million. Airbus â Shares of the aerospace manufacturer were down 11% in France after it cut its 2024 financial targets . â CNBC’s Alex Harring, Michelle Fox Theobald and Sarah Min contributed.
