Stocks Making the Biggest Premarket Moves: UBS, Six Flags, IonQ, Archer Aviation and More

Check out the companies making headlines in premarket trading.

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UBS: In the lead-up to the opening bell, shares of UBS, the Swiss banking institution, registered a 4.6% increase. This uptick ensued subsequent to the announcement that UBS had terminated a $10 billion loss protection arrangement and a publicly acknowledged liquidity support agreement with Credit Suisse. Furthermore, UBS confirmed the complete reimbursement of a 50 billion Swiss franc emergency liquidity loan to the Swiss National Bank by Credit Suisse.

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Six Flags: In the aftermath of falling short of second-quarter estimates, stock in the amusement park entity, Six Flags, experienced a 2.5% decline. The company's financial report revealed adjusted earnings of 25 cents per share, juxtaposed against a revenue of $444 million. This outcome deviated from the predictions provided by analysts surveyed by Refinitiv, who had anticipated figures of 78 cents and $459 million, respectively.

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Maxeon Solar Technologies: During premarket trading, the clean energy enterprise, Maxeon Solar Technologies, encountered a substantial decline of 26% in its stock value. This descent was precipitated by Maxeon's disclosure of weakening demand. In the second quarter, the company's revenue amounted to $348.4 million, which fell short of the projected range, commencing at $360 million. Anticipating further implications, Maxeon projected third-quarter revenue to span between $280 million and $320 million. One of the contributing factors to this demand downturn, as cited by Maxeon, was the impact of elevated interest rates.

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Savers Value Village: Following a remarkable earnings outperformance, the thrift store retailer, Savers Value Village, witnessed an ascent of nearly 6% in its stock price. The company's financial results revealed adjusted earnings per share of 22 cents, coupled with a revenue of $379 million. These figures exceeded the projections made by FactSet, which had estimated 17 cents and $375 million, respectively.

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Flowers Foods: The baked goods company, Flowers Foods, registered a positive movement of 2.4% after surpassing expectations on both the top and bottom lines for the second quarter. The company reported adjusted earnings of 33 cents per share on a revenue of $1.23 billion. In contrast, Refinitiv's consensus had pegged figures at 28 cents and $1.2 billion, respectively.

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Archer Aviation: Share values of Archer Aviation, a prominent player in the aviation sector, experienced a notable surge of nearly 23% subsequent to the resolution of a legal dispute with Boeing concerning autonomous flight technology. Additionally, Archer recently concluded an equity investment round amounting to $215 million, which included contributions from notable entities such as United Airlines and Cathie Wood’s Ark Investment Management.

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IonQ: Displaying an 8.2% increase, the computing hardware company, IonQ, reported a wider-than-anticipated quarterly loss and a revenue shortfall. Nevertheless, IonQ did revise its booking guidance, estimating a range of $49 million to $56 million.

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