Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday

Shares of Rumble Inc. rose sharply in today's pre-market trading following better-than-expected second-quarter financial results.

Rumble reported second-quarter revenue of $22.5 million, up 27% sequentially. The revenue figure beat a Street consensus estimate of $19.69 million, according to data from Benzinga Pro. The company reported a loss of 13 cents per share, which beat a Street consensus estimate of a loss of 15 cents per share.

Rumble shares jumped 7.1% to $6.16 in pre-market trading.

Here are some other stocks moving in pre-market trading.

Gainers

• Vicinity Motor Corp. rose 136.7% to $0.2353 in today's pre-market trading after dipping around 14% on Monday.
• MKDWELL Tech Inc. M gained 54.1% to $1.71 in pre-market trading after falling 17% on Monday.
• CXApp Inc. shares rose 54.1% to $2.28 in pre-market trading after the company reported highlights from the second quarter and announced a multi-year agreement with Alphabet Inc's Google Cloud.
• Plby Group Inc gained 25.5% to $0.74 in pre-market trading. PLBY Group, last week, reported worse-than-expected second-quarter financial results.
• Hesai Group gained 22.2% to $4.35 in pre-market trading. Hesai Group is expected to report second quarter financial results on Monday, Aug. 19.
• Psychemedics Corporation gained 20.5% to $2.22 after the company announced that it approved a plan to cease the registration of its stock under the federal securities laws following the completion of a proposed reverse stock split and to delist its shares of common stock from trading on the Nasdaq.
• Orgenesis Inc jumped 18.3% to $0.80 in pre-market trading after declining 7% on Monday.
• HUYA Inc. gained 8.5% to $4.84 in pre-market trading after the company reported second-quarter results and declared a special dividend of $1.08 per ADS.
• PACS Group, Inc. shares gained 8.2% to $35.00 in pre-market trading following a second-quarter revenue beat.

Losers

• Syros Pharmaceuticals, Inc. shares declined 56.4% to $2.18 in pre-market trading as the company announced plans to discontinue enrollment in SELECT-AML-1 Phase 2 clinical trial.
• SunPower Corporation shares dipped 21.5% to $0.1570 in pre-market trading. SunPower revealed the receipt of notice from Nasdaq about delisting company’s common stock.
• PS International Group Ltd. P declined 20.9% to $1.82 in pre-market trading after jumping around 128% on Monday.
• Greenlane Holdings, Inc. G shares declined 18.8% to $9.33 in pre-market trading. On Monday, Greenlane announced the pricing of $6.5 million private placement priced at-the-market under Nasdaq rules.
• FSD Pharma Inc. shares fell 15.2% to $0.1102 in pre-market trading after dipping 35% on Monday.
• Yatra Online, Inc. shares fell 14.2% to $1.33 in pre-market trading after reporting weak quarterly sales.
• Conifer Holdings, Inc. fell 13.3% to $1.04 in pre-market trading. Conifer Holdings is exp to hold second quarter earnings conference call on Aug. 144.
• On Holding AG fell 8.6% to $36.15 in today's pre-market trading following mixed second-quarter financial results.
• Viasat, Inc. fell 7.5% to $19.99 pre-market trading after declining 5% on Monday.
• Tencent Music Entertainment Group shares fell 6.3% to $12.30 in pre-market trading following a second-quarter revenue miss.

Now Read This:

• Home Depot, Paysafe And 3 Stocks To Watch Heading Into Tuesday

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

CXApp just reported results for the second quarter of 2024.

• CXApp reported earnings per share of -34 cents.
• The company reported revenue of $1.77 million.

InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at editor@investorplace.com.

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Q2 2024 revenue declined to $1.77M as CXApp shifted to a SaaS model, but gross margin rose to 80% and net loss narrowed to $5.26M. Recent funding and cost reductions support liquidity for at least 12 months.

Original document: CXApp Inc. [CXAI] SEC 10-Q Quarterly Report — Aug. 12 2024

CXApp Inc. reported strong Q2 2024 results, highlighted by a 78% increase in bookings, improved gross margin, and a major expansion deal. A new multi-year partnership with Google Cloud is set to accelerate AI-driven workplace innovation.

Original document: CXApp Inc. [CXAI] SEC 8-K Current Report — Aug. 12 2024

CXApp Inc shares are soaring in Monday’s after-hours session after the company reported highlights from the second quarter and announced a multi-year agreement with Alphabet Inc’s Google Cloud.

What Happened: After the market close on Monday, CXApp reported second-quarter revenue of $1.766 million, missing the consensus estimate of $1.8 million. The company reported a quarterly loss of 34 cents per share, missing analyst estimates for a loss of 27 cents per share, per Benzinga Pro.

CXApp said its subscription to one-time revenue split was 85% in the quarter versus 79% last year. Gross margin came in at 80%, up from 75% in the prior year, and the company’s net retention rate was 105% in the quarter. The company said it saw a 78% increase in renewal and expansion bookings on a year-over-year basis.

CXApp also highlighted its largest “expansion” deal with a major enterprise customer in the financial sector. The name of the company was not disclosed, but CXApp noted that the customer’s annual recurring revenue grew by 112% as a result of the expansion deal.

“We continue to make great progress in shaping the future of work with our largest expansion deal this quarter. This large enterprise client is seeing high adoption of our platform in their pilot deployments at their headquarters in the U.S. and a second major site. We are solving real problems in the work environment for them, and they are now planning to scale up with our AI-native solutions across their enterprise footprint,” said Khurram Sheikh, chairman and CEO of CXApp.

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CXApp also announced that it signed a multi-year, multi-million dollar strategic agreement with Google Cloud for the development and delivery of advanced AI infrastructure, security and application products. Google Cloud will also co-invest with CXApp in the continuous deployment, monitoring and modernization of the CXAI platform.

“Given the momentum we see in the market with our customers and enhanced upcoming offerings including our AI-based Analytics platform CXAI VU, the Google Cloud agreement positions us to deliver our commitments to our customers,” Sheikh said.

“We are super-excited about this partnership as it provides us access to all the latest Google AI innovations that we plan on adapting to revolutionize the workplace market with amazing employee experiences.”

CXAI Price Action: CXApp shares were up 64.63% in after hours, trading at $2.42 at the time of publication Monday, according to Benzinga Pro.

Photo: Courtesy of CXApp.

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.