The stock market is buzzing with activity, and today we're taking a look at some of the key players making headlines. From space-based connectivity to home services and biotech, there's a lot to unpack.
AST SpaceMobile Soars
AST SpaceMobile (NASDAQ: ASTS) is stealing the show today, with its stock price soaring. As of Tuesday afternoon, shares were up over 18%, hitting highs of nearly 20% earlier in the session. This surge comes on the heels of the company's fourth-quarter results, published after yesterday's market close.
Interestingly, the company actually reported lower-than-anticipated sales for the quarter. So, what's driving the investor optimism? The answer lies in management's bullish performance outlook for the year. Despite a revenue miss of roughly $460,000 (reporting $1.92 million versus an expected $2.38 million), the company's non-GAAP loss per share of $0.18 was in line with analyst estimates.
While the sales shortfall might seem significant, it's important to remember that AST SpaceMobile is still in the early stages of commercial scaling. Management's encouraging guidance for 2025 appears to be instilling confidence in investors. It's a risky bet, but the potential payoff of connecting smartphones directly to satellites is clearly capturing imaginations.
Earnings Watch: Angi, Galecto, and More
Beyond AST SpaceMobile, several other companies are on the radar as they prepare to release their earnings reports. Here's a quick rundown:
- Angi Inc. (NASDAQ:ANGI): Analysts at MarketBeat.com have issued a consensus "Hold" rating for Angi, with an average 12-month price target. Four analysts recommend holding the stock, while three suggest buying.
- Galecto (NASDAQ:GLTO): The company is expected to announce its quarterly earnings before the market opens on Friday, March 14th. Analysts are predicting a loss of ($2.97) per share.
More Earnings on the Horizon
The earnings season is in full swing, with several companies preparing to share their financial results. Keep an eye on these names:
- National Energy Services Reunited (NASDAQ:NESR): Expected to release earnings before the market opens on Wednesday, March 12th. Analysts predict earnings of $0.30 per share and revenue of $339.84 million.
- Ovid Therapeutics (NASDAQ:OVID): Projected to announce earnings before the market opens on Friday, March 14th. Analysts expect a loss of ($0.16) per share and revenue of $0.19 million.
- Structure Therapeutics (NASDAQ:GPCR): Anticipated to post quarterly earnings before the market opens on Friday, March 14th. Analysts are forecasting a loss of ($0.23) per share.
As always, remember that past performance is not indicative of future results, and it's crucial to do your own research before making any investment decisions.
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Stay tuned for more market updates as earnings season continues!