Investing
7 Serious After-Movers That Will Light Traders' Radar on Tuesday
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Earnings season is in full swing, and many companies are seeing strong moves from the reporting announcements. 24/7 Wall St. has identified seven of the after-hours trading session’s most battered stocks. These moves, at least in some cases, are so strong to the downside that they are likely to paint the screens of traders on Tuesday due to the severity of their price drops.
Additional data has been provided to add some color around each drop. As a reminder, after-hours trading activity sometimes has little bearing on the following day’s trading session. That said, if stocks are getting crushed in a bull market, then just imagine how bad these might be treated in a poor stock market.
Here are seven serious after-hours stocks on the move on Monday, July 29, 2019.
Beyond Meat Inc. (NASDAQ: BYND) was down 5% to $222.13 on Monday ahead of earnings, and the reality of valuation and competition seems to have set in after the close, and it announced a secondary offering on top of mixed results. Beyond Meat was down an additional 13%, or $28.83, to $193.30 in the after-hours trading session with over 2 million shares trading hands.
Cognex Corp. (NASDAQ: CGNX) keeps finding its selling points. After closing up 0.3% at $42.29 in regular trading, Cognex was down 5.5%, or $2.31, to $39.98 in Monday’s after-hours session. It also had traded more than 200,000 shares since the closing bell, and its 52-week range is $34.88 to $59.18.
Impinj Inc. (NASDAQ: PI) was down 2.2% to $35.33 in regular trading but was down 8%, or $2.83, to $32.50 in the after-hours trading, with almost 100,000 shares trading hands since the close. The company managed to beat earnings and revenue expectations, but the shares sold off anyway as the 52-week range of $13.25 to $37.53 shows how stretched the stock may be.
McDermott International Inc. (NYSE: MDR) was down 1.56% at $10.08 in Monday’s regular trading, with a 52-week range of $5.91 to $20.63. After reporting a loss and revenues light of estimates, McDermott shares fell another 32% to $6.84 in the after-hours session on Monday.
Rambus Inc. (NASDAQ: RMBS) closed down 0.7% at $12.89 on Monday in regular trading but was down an additional 9.2%, or $1.19, to $11.70 in the after-hours session after reporting a loss (or breakeven on an adjusted basis) in the latest quarter. The 19,500 shares that traded since the close might not be the strongest conviction, so see what Tuesday brings.
SS&C Technologies Holdings Inc. (NASDAQ: SSNC) was last seen at $47.50, an after-hours drop of $12.19, or 20.4%. It had traded more than 350,000 shares since the close. The company appears to have met expectations in early indications.
Terex Corp. (NYSE: TEX) managed to miss its second-quarter earnings and revenue estimates, and after closing up 0.36% at $33.14, its shares fell by 13.2% to $28.75 in Monday’s after-hours session. This is approaching just 10% above its 52-week low, and its 52-week high of $28.75 shows how this really looks.
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