Biggest stock movers Tuesday: SMCI, INCY, and more

Stock futures and Treasury yields declined during premarket hours of Tuesday as investors eagerly awaited significant earnings results from Walmart, one of the world’s largest retail chains.

Here are some of Tuesday’s biggest stock movers:

Biggest stock gainers

• Symbotic (SYM) shares jumped 26% after the company reported strong FQ4 results, with revenue growing 47% year-over-year. For FQ1, the company guided revenue between $495M and $515M, exceeding the $495.73M consensus, and projected adjusted EBITDA of $27M to $31M. Chief Financial Officer Carol Hibbard stated, “Looking forward to the fiscal first quarter of 2025, we expect continued strong topline growth with stable gross margins, along with targeted investments to capture an expanding set of opportunities.”
• Super Micro Computer (SMCI) shares surged 40% after appointing BDO as its new independent auditor and submitting a compliance plan to Nasdaq to address listing requirements. The server maker, which is late in filing its year-end report following the October resignation of Ernst & Young, assured Nasdaq it expects to file its annual report for the fiscal year ended June 30 and its quarterly report for the period ended September 30.

Biggest stock losers

• Incyte (INCY) shares plunged 9% after the company paused enrollment in a Phase 2 trial of its chronic spontaneous urticaria candidate targeting MRGPRX2 due to preclinical toxicology findings. Incyte shared the data with the FDA and will work with the agency to decide the next steps. It also announced it will stop developing MRGPRX4 for cholestatic pruritus after Phase 2 results showed it was not effective, highlighting major setbacks for its drug pipeline.