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AZZ Surges on Strong Earnings Beat as Defense Stocks Rally on Trump Budget Promise

MarketDash Editorial Team
23 hours ago
AZZ Inc. jumped over 2% in premarket trading after beating earnings expectations for the third quarter. Meanwhile, defense stocks rallied on Trump's military budget proposal, while several biotech and small-cap names saw volatile swings following Wednesday's action.

AZZ Inc. (AZZ) had a good morning, and the market noticed. Shares climbed 2.1% to $112.09 in premarket trading after the company delivered third-quarter results that topped analyst expectations on both the top and bottom lines.

The company reported adjusted earnings of $1.52 per share, beating market estimates of $1.47 per share. Revenue came in at $425.746 million, surpassing expectations of $418.164 million. It's the kind of clean beat that tends to make investors happy before the opening bell.

But AZZ wasn't the only name making moves before the market opened. Here's a look at some of the other stocks seeing significant premarket action.

The Morning's Biggest Gainers

CIMG Inc (IMG) led the charge, soaring 33.3% to $1.44 after announcing it secured approximately $124 million in computing power-related commercial contracts. That's the kind of news that can move a stock in a hurry, especially when you're talking about contracts worth nine figures.

ECD Automotive Design Inc (ECDA) jumped 26.4% to $0.59 on news that a lender is in talks with the company for strategic deals valued between $2 million and $10 million. The wide range suggests negotiations are still fluid, but investors seemed encouraged by the prospect of fresh capital.

Acrivon Therapeutics Inc (ACRV) rose 22.1% to $3.60 after announcing it will provide a clinical update on its ongoing Phase 2b studies and planned confirmatory Phase 3 trial for ACR-368, along with initial clinical data on ACR-2316, on January 8. Biotech investors love a catalyst date, and this one delivered some premarket enthusiasm.

Nuvve Holding Corp (NVVE) gained 17.1% to $4.11, continuing momentum after surging 60% on Wednesday. Sometimes a stock just catches fire, and the buying continues into the next session.

RenovoRx Inc (RNXT) surged 16.8% to $1.18 in premarket trading, though no specific catalyst was immediately apparent.

Serina Therapeutics Inc (SER) gained 16.4% to $2.82, adding to Wednesday's 15% jump. Another momentum play extending its winning streak.

Super League Enterprise Inc (SLE) rose 11.2% to $0.68. On January 5, the company entered into an asset purchase agreement with Let's Bounce, which seemed to catch investors' attention.

Regencell Bioscience Holdings Ltd (RGC) climbed 7.7% to $56.87, building on Wednesday's 60% surge. The momentum train keeps rolling.

Northrop Grumman Corp (NOC) gained 6.8% to $616.26, and here's where things get interesting. Defense stocks rallied across the board, likely responding to President Trump's social media post where he said he wants to increase the 2027 military budget from $1 trillion to $1.5 trillion. That's a 50% budget increase proposal, and defense contractors are understandably excited about the possibility.

The Morning's Biggest Losers

Not everyone had a good morning, of course. Several stocks saw significant selling pressure before the opening bell.

Immuneering Corp (IMRX) fell 20.7% to $6.61 after announcing updated overall survival and safety data from its ongoing Phase 2a trial of atebimetinib in combination with modified gemcitabine/nab-paclitaxel in first-line pancreatic cancer patients, with over 13 months median follow up time. Clinical trial data can make or break a biotech stock, and in this case, investors weren't thrilled with what they saw.

Erasca Inc (ERAS) fell 14% to $4.45, giving back some of Wednesday's 42% gain. What goes up fast sometimes comes down almost as quickly.

Phathom Pharmaceuticals Inc (PHAT) fell 13.7% to $15.60 after announcing pricing of a $130 million public offering of common stock and pre-funded warrants. Dilution concerns likely drove the selling, as shareholders typically don't love hearing about new shares hitting the market.

Oriental Culture Holding Ltd (OCG) dipped 10.2% to $0.021, reversing Wednesday's 5% gain.

Australian Oilseeds Holdings Ltd (COOT) declined 9.4% to $0.71 after jumping 29% on Wednesday. Another case of momentum working in reverse.

Sky Quarry Inc (SKYQ) fell 9.4% to $0.62 after gaining 18% on Wednesday.

FBS Global Ltd (FBGL) shares dipped 9.3% to $0.78, extending Wednesday's 5% decline.

United Microelectronics Corp (UMC) fell 6.3% to $8.37, which is interesting because the stock jumped 10% on Wednesday after the company reported December and full-year sales growth. Sometimes good news gets a second look, and traders decide to take profits.

Cyclerion Therapeutics Inc (CYCN) tumbled 6.1% to $1.69, continuing Wednesday's 8% decline.

Revolution Medicines Inc (RVMD) dipped 6% to $96.57 following reports suggesting AbbVie is not in discussions with the company. In biotech, merger speculation can drive stocks higher, and the absence of such discussions can send them lower.

Back to Stock Market News

AZZ Surges on Strong Earnings Beat as Defense Stocks Rally on Trump Budget Promise

MarketDash Editorial Team
23 hours ago
AZZ Inc. jumped over 2% in premarket trading after beating earnings expectations for the third quarter. Meanwhile, defense stocks rallied on Trump's military budget proposal, while several biotech and small-cap names saw volatile swings following Wednesday's action.

AZZ Inc. (AZZ) had a good morning, and the market noticed. Shares climbed 2.1% to $112.09 in premarket trading after the company delivered third-quarter results that topped analyst expectations on both the top and bottom lines.

The company reported adjusted earnings of $1.52 per share, beating market estimates of $1.47 per share. Revenue came in at $425.746 million, surpassing expectations of $418.164 million. It's the kind of clean beat that tends to make investors happy before the opening bell.

But AZZ wasn't the only name making moves before the market opened. Here's a look at some of the other stocks seeing significant premarket action.

The Morning's Biggest Gainers

CIMG Inc (IMG) led the charge, soaring 33.3% to $1.44 after announcing it secured approximately $124 million in computing power-related commercial contracts. That's the kind of news that can move a stock in a hurry, especially when you're talking about contracts worth nine figures.

ECD Automotive Design Inc (ECDA) jumped 26.4% to $0.59 on news that a lender is in talks with the company for strategic deals valued between $2 million and $10 million. The wide range suggests negotiations are still fluid, but investors seemed encouraged by the prospect of fresh capital.

Acrivon Therapeutics Inc (ACRV) rose 22.1% to $3.60 after announcing it will provide a clinical update on its ongoing Phase 2b studies and planned confirmatory Phase 3 trial for ACR-368, along with initial clinical data on ACR-2316, on January 8. Biotech investors love a catalyst date, and this one delivered some premarket enthusiasm.

Nuvve Holding Corp (NVVE) gained 17.1% to $4.11, continuing momentum after surging 60% on Wednesday. Sometimes a stock just catches fire, and the buying continues into the next session.

RenovoRx Inc (RNXT) surged 16.8% to $1.18 in premarket trading, though no specific catalyst was immediately apparent.

Serina Therapeutics Inc (SER) gained 16.4% to $2.82, adding to Wednesday's 15% jump. Another momentum play extending its winning streak.

Super League Enterprise Inc (SLE) rose 11.2% to $0.68. On January 5, the company entered into an asset purchase agreement with Let's Bounce, which seemed to catch investors' attention.

Regencell Bioscience Holdings Ltd (RGC) climbed 7.7% to $56.87, building on Wednesday's 60% surge. The momentum train keeps rolling.

Northrop Grumman Corp (NOC) gained 6.8% to $616.26, and here's where things get interesting. Defense stocks rallied across the board, likely responding to President Trump's social media post where he said he wants to increase the 2027 military budget from $1 trillion to $1.5 trillion. That's a 50% budget increase proposal, and defense contractors are understandably excited about the possibility.

The Morning's Biggest Losers

Not everyone had a good morning, of course. Several stocks saw significant selling pressure before the opening bell.

Immuneering Corp (IMRX) fell 20.7% to $6.61 after announcing updated overall survival and safety data from its ongoing Phase 2a trial of atebimetinib in combination with modified gemcitabine/nab-paclitaxel in first-line pancreatic cancer patients, with over 13 months median follow up time. Clinical trial data can make or break a biotech stock, and in this case, investors weren't thrilled with what they saw.

Erasca Inc (ERAS) fell 14% to $4.45, giving back some of Wednesday's 42% gain. What goes up fast sometimes comes down almost as quickly.

Phathom Pharmaceuticals Inc (PHAT) fell 13.7% to $15.60 after announcing pricing of a $130 million public offering of common stock and pre-funded warrants. Dilution concerns likely drove the selling, as shareholders typically don't love hearing about new shares hitting the market.

Oriental Culture Holding Ltd (OCG) dipped 10.2% to $0.021, reversing Wednesday's 5% gain.

Australian Oilseeds Holdings Ltd (COOT) declined 9.4% to $0.71 after jumping 29% on Wednesday. Another case of momentum working in reverse.

Sky Quarry Inc (SKYQ) fell 9.4% to $0.62 after gaining 18% on Wednesday.

FBS Global Ltd (FBGL) shares dipped 9.3% to $0.78, extending Wednesday's 5% decline.

United Microelectronics Corp (UMC) fell 6.3% to $8.37, which is interesting because the stock jumped 10% on Wednesday after the company reported December and full-year sales growth. Sometimes good news gets a second look, and traders decide to take profits.

Cyclerion Therapeutics Inc (CYCN) tumbled 6.1% to $1.69, continuing Wednesday's 8% decline.

Revolution Medicines Inc (RVMD) dipped 6% to $96.57 following reports suggesting AbbVie is not in discussions with the company. In biotech, merger speculation can drive stocks higher, and the absence of such discussions can send them lower.