Pre-market Movers: ELBM, SDIG, GP, RVMD, MGNX…

The following are some of the stocks making big moves in Wednesday’s pre-market trading (as of 07.00 A.M. ET).

In the Green

Electra Battery Materials Corporation (ELBM) is up over 22% at $3.41
Stronghold Digital Mining, Inc. (SDIG) is up over 18% at $2.54
GreenPower Motor Company Inc. (GP) is up over 12% at $3.77
MacroGenics, Inc. (MGNX) is up over 11% at $3.85
Edgio, Inc. (EGIO) is up over 9% at $2.44
Applied Blockchain, Inc. (APLD) is up over 9% at $2.33
ESS Tech, Inc. (GWH) is up over 7% at $3.77
Kaleyra, Inc. (KLR) is up over 7% at $2.07
Netflix, Inc. (NFLX) is up over 6% at $214.20
Omnicom Group Inc. (OMC) is up over 6% at $72.09
Wallbox N.V. (WBX) is up over 5% at $9.50
B2Gold Corp. (BTG) is up over 5% at $3.41

In the Red

Revolution Medicines, Inc. (RVMD) is down over 11% at $21.67
AMTD Digital Inc. (HKD) is down over 9% at $22.44
Zentek Ltd. (ZTEK) is down over 7% at $2.18
Marten Transport, Ltd. (MRTN) is down over 5% at $19.00
Intelligent Living Application Group Inc. (ILAG) is down over 5% at $3.01

Precision Drilling Posts Narrower-than-expected Q2 Loss On Higher Revenues

Precision Drilling Corp. (PDS,PD.TO) reported Wednesday that its second-quarter net loss was C$25 million or C$1.81 per share, compared with a net loss of C$76 million or C$5.71 per share in the prior year.

On average, four analysts polled by Thomson Reuters expected earnings of C$2.25 per share for the quarter. Analysts’ estimates typically exclude special items.

Adjusted EBITDA of C$64 million increased 122 percent from C$29 million the prior year quarter.

Revenue for the quarter was C$326.02 million, an increase of 62 percent from C$201.36 million. Analysts estimated revenues of C$292.07 million.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Nielsen Holdings plc Q2 Profit Increases, beats estimates

Nielsen Holdings plc (NLSN) announced earnings for its second quarter that increased from last year and beat the Street estimates.

The company’s bottom line totaled $111 million, or $0.31 per share. This compares with $76 million, or $0.21 per share, in last year’s second quarter.

Excluding items, Nielsen Holdings plc reported adjusted earnings of $0.46 per share for the period.

Analysts on average had expected the company to earn $0.43 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 2.4% to $882 million from $861 million last year.

Nielsen Holdings plc earnings at a glance (GAAP) :

-Earnings (Q2): $111 Mln. vs. $76 Mln. last year.
-EPS (Q2): $0.31 vs. $0.21 last year.
-Analyst Estimate: $0.43
-Revenue (Q2): $882 Mln vs. $861 Mln last year.

New Oriental Education & Technology Group Posts Wider Loss In Q4; Issues Q1 Revenue Guidance

New Oriental Education & Technology Group Inc. (EDU) posted a fourth quarter non-GAAP net loss of $160.3 million, compared to a loss of $27.9 million, prior year. Non-GAAP net loss per ADS was $0.94 compared to a loss of $0.16.

Net loss attributable to New Oriental was $189.3 million, compared to a loss of $45.5 million, prior year. Net loss per ADS was $1.12 compared to a loss of $0.27.

Fourth quarter net revenues were $524.0 million, a 56.8% decrease year over year. The company said the decline was mainly due to the cessation of K-9 academic after-school tutoring services in compliance with the government policies in China.

New Oriental expects first quarter total net revenues to be in the range of $641.3 million to $680.6 million, a year-over-year decline in the range of 51% to 48%.

On July 26, the company’s board authorized the repurchase of up to $400 million of the company’s common shares during the period from July 28, 2022 through May 31, 2023.

Shares of New Oriental Education & Technology Group are down 8% in pre-market trade on Wednesday.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

Boston Scientific Corp Q2 Profit Increases, beats estimates

Boston Scientific Corp (BSX) revealed a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company’s earnings totaled $246 million, or $0.17 per share. This compares with $172 million, or $0.12 per share, in last year’s second quarter.

Excluding items, Boston Scientific Corp reported adjusted earnings of $635 million or $0.44 per share for the period.

Analysts on average had expected the company to earn $0.42 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 5.2% to $3.24 billion from $3.08 billion last year.

Boston Scientific Corp earnings at a glance (GAAP) :

-Earnings (Q2): $246 Mln. vs. $172 Mln. last year.
-EPS (Q2): $0.17 vs. $0.12 last year.
-Analyst Estimate: $0.42
-Revenue (Q2): $3.24 Bln vs. $3.08 Bln last year.

-Guidance:
Next quarter EPS guidance: $0.43 – $0.45
Full year EPS guidance: $1.74 – $1.77

Oil Prices Recover On Crude Stock Drawdown

Oil prices rose on Wednesday, after having fallen sharply the previous day following an announcement from the Biden administration about more sales from the national oil reserve to fight inflation at the pump.

Brent crude futures for October delivery rose half a percent to $99.97 a barrel, while WTI crude futures for September settlement were up 0.7 percent at $95.64.

The price rise comes after industry data showed a healthy drawdown of stocks by the largest consumer in the world.

Data from the American Petroleum Institute showed U.S. crude stocks fell by about 4 million barrels last week, four times bigger than the decline predicted by analysts.

The report also showed that gasoline inventories fell by 1.1 million barrels, compared with expectations for a build of 3.5 million barrels.

Official inventory data from the Energy Information Administration is due later in the session.

A softer dollar also boosted prices as investors eagerly await the Federal Reserve’s impending rate hike.