Power Problems...

Power Problems…

By George Banko

July 19, 2024

Good Morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see stock futures were mixed on Friday after a global IT outage caused significant disruption. The outage also added to recent tech sector woes, with several companies taking a dive in premarket trading (more on that below).

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Here’s a look at the top-moving stocks this morning.

CrowdStrike Holdings (Nasdaq: CRWD)

CrowdStrike is down 13.26% in premarket trading after a global IT outage caused airlines to ground planes and financial companies and other businesses unable to access computer systems. Crowdstrike said the crashes were tied to issues with its Falcon Sensor.

Intuitive Surgical (Nasdaq: ISRG)

Intuitive Surgical is up 5.01% in premarket trading after the robotic surgery company reported second-quarter adjusted profit that beat analysts’ estimates and sales of $2.01 billion. The company cited an increase in demand for procedures using its da Vinci robotic systems, which were up 17% from a year earlier.

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Plug Power (Nasdaq: PLUG)

Plug Power is down 9.59% in premarket trading after the hydrogen-technology company announced a public share offering of $200 million. The offering is expected to close on or about July 22, 2024.

PPG Industries (NYSE: PPG)

PPG Industries is down 3.58% in premarket trading. The company said it saw growth in its aerospace and packaging. However, that growth was offset by “global automotive builds that weakend as the quarter progressed and global industrial production remained soft.”