Biggest stock movers today: NEE, CHGG, and more
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Contributor since / Followers
Contributor since / Followers
6 months ago
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Stock futures inched up during Tuesday’s premarket session, following the S&P 500’s 30th record close of 2024.
Here are some of Tuesday’s biggest stock movers:
Biggest stock gainers
- Chegg (NYSE:CHGG) shares jumped over 19% after announcing a 23% reduction in its global headcount, resulting in a loss of 441 employees. The company, which offers book rentals and study guides, expects non-GAAP expense savings of $40M to $50M in 2025. However, the company also expects to book a $10M to $14M charge related to the restructuring. Additionally, it reiterated its goal of EBITDA margins of at least 30% in FY2025.
- Shares of Rocket Lab USA (NASDAQ:RKLB) rose over 4% after the space systems company signed the largest Electron launch agreement in the company’s history. The launches in the new deal will take place from 2025 to 2027.
Biggest stock losers
- NextEra Energy (NYSE:NEE) shares fell 5% after announcing plans to sell nearly $2B of equity units, each issued at $50, to purchase common stock by June 2027 and a 5% undivided ownership interest in a debenture due June 1, 2029. The sale proceeds will be added to NextEra Energy Capital Holdings’ general funds, which will be used to fund energy and power projects and other corporate purposes, including the repayment of part of its outstanding commercial paper obligations.
- Despite beating consensus in Q2 results, Lennar’s (NYSE:LEN) shares dropped more than 3% after the homebuilder’s forecast for deals in Q3 missed consensus expectations. The company expects Q3 new orders of 20,500-21,000 vs. Bloomberg consensus of 21,095, deliveries of 20,500-21,000 vs. consensus of 21,004, average sales price of $420K-$425K, and gross margin on home sales of ~23.0% vs. consensus of 24%.