U.S. stock futures were a mix of red and green this morning, with the Dow futures edging up by around 50 points as the market prepared to open on Friday.
Flexsteel Industries, Inc. (FLXS) drove a robust surge in today’s pre-market trading following the company’s announcement of strong preliminary results for the second quarter.
The company’s preliminary earnings of 57 cents per share trounced analysts’ estimates of 27 cents per share. Revenue also exceeded expectations, with Flexsteel Industries reporting $100.1 million compared to the anticipated $96.77 million. In addition to these outstanding results, the company issued financial guidance for the remainder of fiscal year 2024 and fiscal year 2025.
Flexsteel Industries shares skyrocketed by 26.8% to reach $22.87 in pre-market trading, henceforth showcasing the company’s impressive growth prospects to astute investors.
The prevailing trading session witnessed the upsurge of several notable stocks, including Sify Technologies Limited (SIFY), Arcutis Biotherapeutics, Inc. (ARQT), Nordic American Tankers Limited (NAT), Ginkgo Bioworks Holdings, Inc. (DNA), NexGen Energy Ltd. (NXE), ZIM Integrated Shipping Services Ltd. (ZIM), Wheels Up Experience Inc. (UP), and Wipro Limited (WIT).
Sify Technologies Limited gained 6.9% to $1.86 in pre-market trading, and Sify Technologies is expected to report its unaudited IFRS financial results for the third quarter ended Dec. 31, 2023 before the opening bell on Jan. 18, 2024. Arcutis Biotherapeutics, Inc. climbed 5.4% to $3.90, following a decline of over 10% on Thursday. Moreover, Arcutis Canada recently announced Health Canada acceptance of the supplement to a new drug submission for Roflumilast Foam 0.3% for seborrheic dermatitis in individuals 9 years of age and older.
Nordic American Tankers Limited shares gained 5.3% to $4.58, Ginkgo Bioworks Holdings, Inc. gained 4.4% to $1.40, NexGen Energy Ltd. rose 4.7% to $7.38, ZIM Integrated Shipping Services Ltd. rose 4.3% to $14.31, Wheels Up Experience Inc. gained 3.9% to $4.55, and Wipro Limited gained 3% to $5.53 in pre-market trading ahead of quarterly results.
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