Why Fortinet Shares Are Trading Higher By Around 17%; Here Are 20 Stocks Moving Premarket

Shares of Fortinet, Inc. FTNT rose sharply in today's pre-market trading after the company reported better-than-expected second-quarter financial results and issued guidance above estimates.

Fortinet's second-quarter revenue increased 11% year-over-year to $1.43 billion, beating consensus estimates of $1.403 billion. The cybersecurity company reported second-quarter adjusted earnings of 57 cents per share, beating analyst estimates of 41 cents per share.

Fortinet shares jumped 17% to $65.29 in pre-market trading.

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

Gainers

• Richtech Robotics Inc. RR rose 68.1% to $0.6220 in today's pre-market trading after dipping around 74% on Tuesday.
• Lumen Technologies, Inc. LUMN gained 43% to $7.15 in pre-market trading after the company reported better-than-expected second-quarter revenue results.
• Zhongchao Inc. ZCMD gained 34.2% to $1.65 in pre-market trading.
• Upstart Holdings, Inc. UPST jumped 24% to $29.60 in pre-market trading after the company reported better-than-expected second-quarter financial results and issued third-quarter revenue guidance above estimates.
• Latham Group, Inc. SWIM shares gained 20.6% to $3.75 in pre-market trading after the company reported better-than-expected second-quarter financial results and raised its FY24 revenue guidance above estimates. Additionally, the company announced an acquisition of Coverstar Central.
• Mynd.ai, Inc. MYND shares rose 15.9% to $2.55 in pre-market trading after falling around 7% on Tuesday.
• Beyond Air, Inc. XAIR shares rose 14.3% to $0.5770 in pre-market trading after the company reported better-than-expected quarterly EPS results.
• Snow Lake Resources Ltd. LITM gained 12.8% to $0.5756 in pre-market trading after jumping around 13% on Tuesday.
• Corvus Pharmaceuticals, Inc. CRVS shares gained 10% to $3.30 in pre-market trading after the company reported a narrower-than-expected quarterly loss.

Losers

• Scorpius Holdings, Inc. SCPX shares dipped 77% to $1.30 in pre-market trading after gaining 19% on Tuesday. Scorpius announced that it has surpassed $100 million in near-term business development opportunities across government and commercial sectors.
• Talis Biomedical Corporation TLIS shares declined 52.7% to $4.25 in pre-market trading after the company initiated a board restructuring.
• Porch Group, Inc. PRCH declined 38.2% to $1.07 in pre-market trading after reporting weak quarterly results.
• Stem, Inc. STEM shares declined 37.1% to $0.6274 in pre-market trading after the company reported mixed second-quarter financial results.
• Emergent BioSolutions Inc. EBS shares fell 36.2% to $6.27 in pre-market trading after posting a loss for the second quarter.
• DZS Inc. DZSI fell 36.2% to $0.66 pre-market trading after the company announced it received a delisting notice from the Nasdaq.
• VBI Vaccines Inc. VBIV fell 32.2% to $0.09 in today's pre-market trading after jumping 111% on Tuesday.
• Nevro Corp. NVRO shares fell 31.1% to $5.99 in pre-market trading after the company reported worse-than-expected second-quarter sales results.
• Evotec SE EVO fell 24.5% to $2.90 in pre-market trading after declining around 11% on Tuesday.
• Cryoport, Inc. CYRX shares fell 23.5% to $5.95 in pre-market trading after posting weak quarterly sales.

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