Hot Stocks: OXM, TCOM rally on earnings; MOMO falls; MRNA updates COVID vaccine guidance
Earnings news provided an important catalyst in Thursday's pre-market trading. Oxford Industries (NYSE:OXM) and Trip.com (TCOM) both posted notable gains following the release of their quarterly results.
Meanwhile, the announcement of financial figures had the opposite impact on Hello Group (MOMO). Shares dropped on a lower-than-expected profit.
In other news, Moderna (MRNA) received some pre-market interest after the company updated the guidance for its blockbuster COVID vaccine.
Oxford Industries (OXM) rallied in pre-market trading following the release of strong quarterly results. The clothing company reported a quarterly profit that topped expectations by 16%. Revenue rose about 36% to nearly $300M.
Looking ahead, the firm predicted a Q1 profit of $2.65-$2.90 per share, above the $1.92 per share that analysts had predicted. Bolstered by the quarterly update, OXM advanced nearly 7% before the bell.
Earnings news also prompted gains in Trip.com (TCOM). The online travel agency reported a profit for the latest quarter, while analysts were expecting a loss. Shares rose 5% on the news.
Moderna (MRNA) edged higher in pre-market action after it raised its commercial outlook for its COVID-19 vaccine. The company revealed that it has signed nearly $21B in 2022 advance purchase agreements for the drug. This was up from the $19B it reported last month.
Hello Group (MOMO) revealed a quarterly profit that came in below the amount analysts had predicted. The entertainment firm said its revenue slipped 3% to $577M.
Hurt by the disappointing results, MOMO dropped 9% in pre-market trading.
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