Biggest stock movers Tuesday: ZION, BOOM, and more

Stock futures edged lower in Tuesday’s premarket session as cautious investor sentiment grew ahead of critical earnings reports from major companies.

Here are some of Tuesday’s biggest stock movers:

Biggest stock gainers

Zions Bancorporation (ZION) shares rose 4% after reporting Q3 results that exceeded expectations, highlighted by a 21% jump in profits. The net interest margin also strengthened to 3.03% from 2.93% a year earlier, reflecting improved operational performance.
iRhythm Technologies (IRTC) shares surged 18% after the U.S. Food and Drug Administration (FDA) granted clearance for its 510(k) submission concerning design changes made to the Zio AT device. The Zio AT remains available for shipment to customers in the U.S. Quentin Blackford, iRhythm’s President and CEO, emphasized that this clearance reflects the company’s commitment to quality, compliance, and performance. He noted that this marks the first of two 510(k) clearances submitted earlier this year, both tied to ongoing remediation efforts with the FDA. The company remains dedicated to ensuring patient safety and maintaining physician trust in the clinical performance of the Zio AT system.

DMC Global (BOOM) shares plummeted 17% after lowering Q3 sales guidance to $152M from its previous outlook of $158M-$168M. Weaker-than-expected sales at its Arcadia Products and DynaEnergetics businesses contributed to the decline. Q3 adjusted EBITDA is now expected to be $5M, down from the previous estimate of $15M-$18M. DMC also announced a $142M non-cash goodwill impairment charge associated with its 2021 acquisition of Arcadia. The board has decided to pause marketing efforts for DynaEnergetics and NobelClad, prioritizing stability amid recent macroeconomic challenges in the energy market.
NANO Nuclear Energy (NNE) shares fell over 7% after the company filed a prospectus for the offer and sale of approximately 1.4M units, consisting of 1.4M shares of common stock and warrants to purchase up to 699,301 additional shares of common stock.

Tags: GM