Why Cisco Shares Are Trading Higher; Here Are 20 Stocks Moving Premarket

Author: Avi Kapoor | May 16, 2024 08:28am

Shares of Cisco Systems, Inc. (NASDAQ:CSCO) rose sharply in today's pre-market trading after the company reported stronger-than-expected financial results for its third quarter on Wednesday.

Cisco's third-quarter revenue decreased 13% year-over-year to $12.7 billion, which beat the consensus estimate of $12.531 billion, according to Benzinga Pro. The company reported quarterly earnings of 88 cents per share, which beat analyst estimates of 82 cents per share.

The company said it sees FY24 adjusted earnings of $3.69 to $3.71 per share, on revenue of $53.6 billion to $53.8 billion. C

Cisco shares jumped 4.6% to $51.93 in the pre-market trading session.

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

Gainers

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) gained 102.3% to $0.1210 in pre-market trading after jumping around 34% on Wednesday.
Crown ElectroKinetics Corp. (NASDAQ:CRKN) gained 85.1% to $0.0855 in pre-market trading after declining around 3% on Wednesday.
TSR, Inc. (NASDAQ:TSRI) shares gained 62.2% to $12.91 in pre-market trading after the company agreed to be acquired by founder of BCforward for $13.40 per share.
Pineapple Energy Inc. (NASDAQ:PEGY) rose 48.2% to $0.1289 in today's pre-market trading after gaining around 48% on Wednesday. Pineapple Energy, last week, reported worse-than-expected first-quarter financial results.
AST SpaceMobile, Inc. (NASDAQ:ASTS) shares rose 37.2% to $3.28 in pre-market trading as the company reported a narrower-than-expected loss for its first quarter and announced a definitive commercial agreement with AT&T Inc.
Blue Star Foods Corp. (NASDAQ:BSFC) gained 31.6% to $0.0849 in pre-market trading after adding more than 15% on Wednesday.
Sintx Technologies, Inc. (NASDAQ:SINT) shares rose 29.8% to $0.1656 in pre-market trading after surging 132% on Wednesday.
ZTO Express (Cayman) Inc. (NYSE:ZTO) shares climbed 11.1% to $23.75 in pre-market trading following upbeat quarterly results
Chubb Limited (NYSE:CB) gained 9.2% to $276.16 in pre-market trading following an SEC filing showed Berkshire Hathaway purchased shares of the stock. The 13F filing revealed Berkshire Hathaway had purchased 25.92 million Chubb shares valued at over $6.717 billion.

Losers

UTime Ltd (NASDAQ:WTO) shares declined 31.8% to $0.25 in pre-market trading.
KULR Technology Group, Inc. (NYSE:KULR) shares fell 27% to $0.3406 in pre-market trading after the company reported downbeat first-quarter financial results.
Spire Global, Inc. (NYSE:SPIR) fell 23.3% to $8.70 in pre-market trading after the company reported mixed first-quarter financial results and lowered its FY24 forecast.
AgriFORCE Growing Systems Ltd. (NASDAQ:AGRI) shares declined 18.8% to $0.0860 in pre-market trading after gaining 14% on Wednesday.
WaveDancer, Inc. (NASDAQ:WAVD) shares dipped 17.6% to $2.11 in pre-market trading after falling 15% on Wednesday.
AERWINS Technologies Inc. (NASDAQ:AWIN) shares fell 17.2% to $5.20 in pre-market trading after jumping 132% on Wednesday.
GameStop Corp. (NYSE:GME) shares fell 14.2% to $33.93 in pre-market trading after dipping around 19% on Wednesday.
Fluent Inc (NASDAQ:FLNT) shares fell 13.4% to $3.44 in pre-market trading after posting weaker-than-expected quarterly results.
AMC Entertainment Holdings, Inc. (NYSE:AMC) shares declined 10.5% to $4.90 in pre-market trading after tumbling 20% on Wednesday.
Iris Energy Limited (NASDAQ:IREN) shares fell 7.6% to $4.80 in pre-market trading after the company reported third-quarter results and filed for $500 million mixed securities shelf.