Why Fortinet Shares Are Trading Higher By 9%; Here Are 20 Stocks Moving Premarket

Author: Avi Kapoor | February 07, 2024 08:55am

Shares of Fortinet, Inc. (NASDAQ:FTNT) rose sharply in today’s pre-market trading after the company reported better-than-expected fourth-quarter financial results and issued guidance.

Fortinet reported quarterly earnings of 51 cents per share, which beat the analyst consensus estimate of 43 cents by 18.6%. The company reported quarterly sales of $1.42 billion, beating the analyst consensus estimate of $1.41 billion.

Fortinet anticipates full-year 2024 revenue between $5.71 billion and $5.81 billion and an adjusted EPS of $1.65 to $1.70.

Fortinet shares gained 9.4% to $73.80 in pre-market trading

Here are some other stocks moving in pre-market trading.

Gainers

• MariaDB plc (NYSE:MRDB) gained 125.2% to $0.5423 in pre-market trading after jumping more than 26% on Tuesday.
• Psyence Biomedical Ltd. (NASDAQ:PBM) shares jumped 41.2% to $2.19 in pre-market trading after gaining around 9% on Tuesday.
• Griid Infrastructure Inc. (NASDAQ:GRDI) gained 27.4% to $2.70 in pre-market trading after gaining over 4% on Tuesday.
• Solidion Technology Inc. (NASDAQ:STI) shares gained 20.8% to $2.50 in pre-market trading after dipping over 30% on Tuesday.
• Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP) shares gained 18.1% to $0.3316 in pre-market trading after falling over 10% on Tuesday.
• Onconetix, Inc. (NASDAQ:ONCO) shares rose 17.2% to $0.1992 in pre-market trading after gaining 3% on Tuesday.
• reAlpha Tech Corp. (NASDAQ:AIRE) shares rose 14.4% to $1.35 in pre-market trading. reAlpha Tech recently appointed Michael Frenz as CFO, Mike Logozzo as President and COO.
• Yum China Holdings, Inc. (NYSE:YUMC) shares rose 13.5% to $42.49 in pre-market trading after the company reported fourth-quarter financial results and increased its dividend.
• Tenax Therapeutics, Inc. (NASDAQ:TENX) shares rose 8.3% to $12.40 in pre-market trading. Tenax Therapeutics shares jumped 31% on Tuesday after the company announced the USPTO granted notice of allowance for the U.S. patent application "Levosimendan For Treating Pulmonary Hypertension With Heart Failure With Preserved Ejection Fraction."

Losers

• Snap Inc. (NYSE:SNAP) declined 31.3% to $11.99 in pre-market trading after the company reported mixed fourth-quarter results.
• ADDvantage Technologies Group, Inc. (NASDAQ:AEY) fell 24.2% to $0.4701 in pre-market trading after surging 77% on Tuesday.
• Sunworks, Inc. (NASDAQ:SUNW) shares dipped 16.1% to $0.0730 in pre-market trading. Sunworks shares dipped 58% on Tuesday after the company announced it ceased operations and filed voluntary petitions for relief under the provisions of Chapter 7 of Title 11 of the United States Code.
• Rekor Systems, Inc. (NASDAQ:REKR) fell 15% to $2.55 in pre-market trading after the company announced the launch of a proposed follow-on public offering of common stock.
• MedAvail Holdings, Inc. (NASDAQ:MDVL) shares declined 13.4% to $2.85 in pre-market trading after jumping 92% on Tuesday.
• fuboTV Inc. (NYSE:FUBO) shares fell 11.2% to $2.23 in pre-market trading after gaining around 4% on Tuesday.
• Yield10 Bioscience, Inc. (NASDAQ:YTEN) shares declined 10.8% to $0.3430 in pre-market trading after gaining around 10% on Tuesday.
• SenesTech, Inc. (NASDAQ:SNES) shares fell 10.4% to $0.95 in pre-market trading.
• New York Community Bancorp, Inc. (NYSE:NYCB) shares declined 9.3% to $3.81 in pre-market trading. Moody's downgraded New York Community Bancorp's credit rating to junk.
• ePlus inc. (NASDAQ:PLUS) shares declined 6.1% to $73.54 in pre-market trading after the company reported worse-than-expected third-quarter results.

 

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Posted In: AEY AIRE FTNT FUBO GRDI MDVL MRDB NYCB ONCO PBM PLUS REKR SNAP SNES STI SUNW TENX YTEN YUMC ZAPP