Benzinga - by Avi Kapoor, Benzinga Staff Writer.
Shares of International Business Machines Corporation (NYSE: IBM) shares rose sharply in today’s pre-market trading as the company reported reported stronger-than-expected results for its fourth quarter.
IBM said fourth-quarter revenue increased 4% year-over-year to $17.38 billion, which beat the consensus estimate of $17.3 billion, according to Benzinga Pro. The company noted that the continued adoption of hybrid cloud and AI offerings drove its strong revenue results.
IBM reported quarterly adjusted earnings of $3.87 per share versus estimates of $3.78 per share.
IBM shares jumped 7.4% to $186.82 in pre-market trading
Here are some other stocks moving in pre-market trading.
Gainers
- C3is Inc. (NASDAQ: CISS) gained 48.6% to $0.1970 in pre-market trading. Aegis Capital Corp. acted as sole bookrunner on an upsized $7.0 million underwritten public offering for C3is.
- Charge Enterprises, Inc. (NASDAQ: CRGE) gained 42% to $0.2090 in pre-market trading following a 6% decline on Wednesday.
- Acutus Medical, Inc. (NASDAQ: AFIB) shares jumped 39% to $0.3085 in pre-market trading. Acutus Medical has been granted European patent number EP3043701 titled "Devices and Methods for Determination of Electrical Dipole Densities on a Cardiac Surface (And Methods for Diagnosing Tissue Health)."
- Onconetix, Inc. (NASDAQ: ONCO) shares gained 37.5% to $0.2037 in pre-market trading after falling over 4% on Wednesday.
- AgeX Therapeutics, Inc. (NYSE: AGE) gained 24.3% to $0.50 in pre-market trading.
- Castellum, Inc. (NYSE: CTM) surged 21.4% to $0.40 in pre-market trading after falling over 5% on Wednesday.
- Globavend Holdings Limited (NASDAQ: GVH) shares gained 19.3% to $1.17 in pre-market trading after gaining 9% on Wednesday.
- American Superconductor Corporation (NASDAQ: AMSC) shares climbed 14.7% to $11.17 in pre-market trading after the company reported better-than-expected third-quarter financial results and issued fourth-quarter revenue guidance above estimates.
- Nokia Oyj (NYSE: NOK) shares gained 7.9% to $3.68 in pre-market trading after the company posted fourth-quarter results and issued 2024 forecast,
- Akoustis Technologies, Inc. (NASDAQ: AKTS) shares dipped 27.6% to $0.51 in pre-market trading as the company announced a proposed public offering of common stock. Akoustis said it sees second-quarter revenue of approximately $6.9 million to $7.1 million.
- VS MEDIA Holdings Limited (NASDAQ: VSME) shares fell 20.1% to $0.5186 in pre-market trading after jumping around 98% on Wednesday.
- 1847 Holdings LLC (NYSE: EFSH) shares fell 19.1% to $1.61 in pre-market trading. 1847 secured $750,000 credit facility for its Wolo Manufacturing subsidiary.
- CCC Intelligent Solutions Holdings Inc. (NASDAQ: CCCS) fell 18.3% to $9.00. CCC Intelligent Solutions, earlier during the month, announced pricing of upsized secondary offering of 22m shares of common stock.
- Phunware, Inc. (NASDAQ: PHUN) declined 15.6% to $0.2919 in pre-market trading after dipping around 20% on Wednesday.
- Columbia Banking System, Inc. (NASDAQ: COLB) fell 14.3% to $21.94 in pre-market trading after the company reported worse-than-expected fourth-quarter financial results.
- SuperCom Ltd. (NASDAQ: SPCB) shares fell 13.2% to $0.20 in pre-market trading after declining over 5% on Wednesday.
- Hexcel Corporation (NYSE: HXL) shares declined 8.2% to $65.78 in pre-market trading after reporting weak quarterly results.
- Tesla, Inc. (NASDAQ: TSLA) shares declined 7.8% to $191.53 in pre-market trading after the company reported downbeat earnings and sales results for its fourth quarter.
- LG Display Co., Ltd. (NYSE: LPL) shares dipped 7% to $4.78 in pre-market trading after the company reported fourth-quarter financial results.
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