Premarket Movers | ServiceNow Soars Nearly 7%; Nokia Jumps 3%; Texas Instruments Drops 5%; Molina Healthcare Sinks 9% After Earnings Reports

Tiger Newspress07-23

ServiceNow rose 6.7% as shares rallied on stronger-than-expected Q2 results and a raised full-year subscription revenue outlook.

US-listed Nokia stock jumped 3% in premarket trading. Nokia reported a bigger than expected rise in its quarterly comparable operating profit on Thursday, as the Finnish telecom gear maker got a boost from ​artificial intelligence and cloud customers, and expects the growth to continue.

Texas Instruments fell over 5% in pre-market trading, trading at $279.15/share. The decline came despite the company reporting Q2 results that significantly exceeded expectations across all key metrics.

Molina Healthcare fell over 9% in premarket trading. The decline was triggered by the company's Q2 earnings report revealing a sharp deterioration in profitability compounded by multiple business-level drags on full-year guidance.

Specifically, Molina reported Q2 adjusted EPS of $1.51, which beat the consensus estimate of $1.39 but plunged 72.45% from $5.48 in the year-ago quarter. Revenue fell to $10.87 billion from $11.43 billion a year earlier, representing a 4.9% decline.

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