Hot Stocks: LMND pops 10%, SOFI dips as SoftBank Group sells shares, BHC sinks on earnings, and MU falls
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Shares of Lemonade, Inc. (NYSE:LMND) moved higher by more than 10% after the insurance firm delivered Wall Street with strong earnings and Q3 guidance.
At the same time shares of SoFi Technologies (NASDAQ:SOFI) have suffered with news that SoftBank Group (OTCPK:SFTBY) (OTCPK:SFTBF) has sold a portion of its shares in the stock. Also trending in the red are shares of Bausch Health Companies (NYSE:BHC) and Micron Technology, Inc. (NASDAQ:MU). BHC declined on weak earnings, while MU has fallen on weaker guidance.
Gainer
Lemonade, Inc. (LMND) jumped 10.4% on strong earnings and forward Q3 guidance. The company expects Q3 revenue of $63M-$65M compared to the $57M consensus figure.
Decliners
SoFi Technologies (SOFI) moved to the downside by 3.6% in early market trading. The online personal finance company said that SoftBank Group (OTCPK:SFTBY) (OTCPK:SFTBF) which holds more than 83M shares of SOFI decided to sell a portion of its stake in SOFI, according to a filing.
Bausch Health Companies (BHC) dropped 10.2% as the stock missed on both Q2 GAAP EPS and revenue and further cut its FY22 revenue guidance. BHC posted Q2 GAAP EPS of -$0.40, which missed estimates by $0.30 and also missed on revenue by $70M.
Micron Technology, Inc. (MU) has headed lower by 4.3% during Tuesdayâs premarket trading session as the tech firm sees weak Q4 sales due to macroeconomic factors and supply chain constraints. MU anticipates FQ4 revenue to come in at or below the low end of the revenue guidance range of $6.8B and $7.6B.
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