Pre-Market:Pre-Market

Pre-Market active stocks

Gainers

• Apple (NASDAQ:AAPL) stock climbed 0.2% after the iPhone maker agreed to pay $25 million to settle charges by the United States Department of Justice that it illegally favored undocumented workers for specific occupations. 

Losers

• Plug Power (NASDAQ:PLUG) stock fell more than 30% after the hydrogen fuel-cell company’s third-quarter sales fell short of expectations, prompting the company to withdraw its 2023 outlook, citing “unprecedented supply challenges.”   
• The stock of Trade Desk (NASDAQ:TTD) fell more than 24% after the advertising software manufacturer missed with its revenue projection for the upcoming quarter, which was attributed to the auto and Hollywood strikes. 
• Unity Software (NYSE:U) stock dropped more than 14% after the video game software developer failed to provide full-year guidance after third-quarter revenue fell short of forecasts due to slower new game launches and problems in China due to a government crackdown on gaming.  
• Diageo (LON:DGE) ADRs fell more than 14% as the UK drinks giant warned that organic operating profit will fall in the first half of the current fiscal year, citing “material weakness” in Latin America and the Caribbean. 
• The shares of Illumina (NASDAQ:ILMN) fell more than 11% after the gene-testing company dropped its annual profit prediction for the second quarter in a row, citing deterioration in demand for its sequencing tools, consumables, and services. 
•  Walt Disney (NYSE:DIS) stock dipped 0.2% as the entertainment conglomerate said that many films, including “Deadpool 3,” would be delayed owing to the just ended Hollywood strike. 
• Wynn Resorts (NASDAQ:WYNN) stock fell 4.8% Despite hospitality workers striking a tentative labor agreement with the casino operator, easing the possibility of a strike, Wynn Resorts (NASDAQ:WYNN) stock sank 4.8%, as investors worried about the company’s uneven recovery in the vital Macau region. 

Stock on watch for Today

Wynn Resorts (NASDAQ:WYNN)

Wynn Resorts (NASDAQ:WYNN) fell over 6% in pre-market trading, extending its three-day losing run. Despite the company’s quarterly top and bottom line beats reported on Thursday, and the revelation on Friday of a tentative labor agreement negotiated between the casino behemoth and the Culinary Workers Union Local 226 in Las Vegas, less than three hours before a strike deadline, the losses have continued. Wynn Las Vegas, Wynn Macau, and Encore Boston Harbor are among the casinos and resorts owned and operated by WYNN.

Groupon (GRPN)

Groupon (GRPN) shares fell more than 27% before the opening bell after the company reported a 12% drop in revenue and gross profit year over year. It also authorized a $80 million rights offering. The findings and funding are part of a cost-cutting strategy. GRPN also announced that co-founder Eric Lefkofsky has resigned from the board of directors. Groupon (GRPN) is a website that connects users to local eateries and shopping attractions. It also provides coupons and promotional promotions.

Plug Power (PLUG)

Plug Power (PLUG) was among the most actively traded stocks before the market opened, falling over 36%. The maker of hydrogen fuel cells reported a larger-than-expected quarterly loss and blamed “unprecedented supply challenges” for the results. Fuel cell systems and related infrastructure and equipment sales fell 8.1% year on year to $145.1 million. PLUG cited many instances of force majeure in the liquid hydrogen market in North America, resulting in volume limitations.

Blink Charging (BLNK)

Blink Charging (BLNK) stock rose more than 13% in pre-market trade after the electric vehicle charging station supplier reported a smaller-than-expected quarterly loss. The company also increased its full-year revenue projection and stated that it expects to achieve adjusted EBITDA break-even in 2024. BLNK’s top executive, Brendan Jones, stated during the earnings conference call that the company sold or deployed nearly 5.7K chargers internationally in Q3.

Weekly Earnings Calendar

Friday, NOV 10

Soho House (SHCO) StoneCo (STNE), CAE, SNC Lavalin 

For Details

for Details read

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Airbnb suffers as a result of KeyBanc’s downgrade 

Airbnb (NASDAQ:ABNB) shares were down nearly 3% in premarket trading Tuesday after KeyBanc downgraded the business from Overweight to Sector Weight.  

Following the split, WK Kellogg began at Sell. 

Following the conclusion of Kellogg Company’s (NYSE:K) spinoff of its North American cereal division into the WK Kellogg standalone entity, Goldman Sachs commenced coverage on WK Kellogg (NYSE:KLG) with a Sell rating and a price target of $11.00. 

WK Kellogg’s stock dropped significantly on the first day after the spinoff, closing more than 9% down on Monday.  

Nortfolk Southern and Bread Financial have been downgraded. 

Norfolk Southern (NYSE:NSC) shares fell more than 2% on Monday after BofA Securities downgraded the firm to Neutral from Buy and reduced its price objective to $215.00 from $266.00, citing operational difficulties and excessive costs.  

Bread Financial (NYSE:BFH) has been downgraded to Sell from Neutral by Goldman Sachs, with a $32 price target. As a result, shares dropped about 2% on Monday. 

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ell suffers as a result of a downgrade by Barclays.
Dell Technologies (NYSE:DELL) shares tumbled 3% before the bell on Thursday after Barclays downgraded the firm to Underweight from Equalweight, with a $53.00 price target.

Cloudflare began at Underperform.
Cloudflare (NYSE:NET) has been added to BofA Securities’ coverage with an Underperform rating and a $52.00 price objective.

Crocs (NASDAQ:CROX) shares were down more than 2% in pre-market trading today after B.Riley downgraded the firm to Neutral from Buy and reduced its price objective to $101.00 from $125.00.

Verint Systems (NASDAQ:VRNT) was downgraded from Outperform to Perform by Oppenheimer.
Following the company’s announced Q2 EPS and sales misses, as well as dismal full-year forecasts, shares fell more than 17% pre-market today.