Shares of Penguin Solutions Inc (NASDAQ:PENG) rose sharply in pre-market trading after the company reported better-than-expected first-quarter financial results.

The company reported quarterly earnings of 49 cents per share, beating the analyst consensus estimate of 44 cents per share. The company reported quarterly sales of $343.071 million, which beat the analyst consensus estimate of $338.758 million.

Penguin Solutions shares surged 5.3% to $22.70 in the pre-market trading session.

Here are some other stocks moving in pre-market trading.

Gainers

• Ventyx Biosciences Inc (NASDAQ:VTYX) gained 64.5% to $16.54 in pre-market trading following reports that Indianapolis-based Eli Lilly & Co. (NYSE:LLY) is in advanced talks to acquire the company for more than $1 billion, according to The Wall Street Journal.
• Alpha Modus Holdings Inc (NASDAQ:AMOD) rose 57.8% to $0.78 in pre-market trading after announcing a partnership with Virginia-based DXC Technology Co. (NYSE:DXC) to deploy financial services kiosks serving underbanked consumers across the United States.
• Momentus Inc (NASDAQ:MNTS) gained 32.8% to $13.05 in pre-market trading after rising 11% on Tuesday. Momentus, on Monday, priced its $5 million registered direct offering of 925,926 shares and warrants at a combined price of $5.40.
• Netcapital Inc (NASDAQ:NCPL) rose 29.2% to $0.88 in pre-market trading after the company announced it acquired the assets of Iverson Design.
• Algorhythm Holdings Inc (NASDAQ:RIME) rose 13.9% to $1.39 in pre-market trading. The Florida-based AI technology company announced that its subsidiary, SemiCab, received an expansion to its master services agreement with Apollo Tyres Ltd., India’s second-largest tire manufacturer, with over $5 billion in annual sales and ranked among the top ten global competitors in the tire industry.
• BIOAGE Labs Inc (NASDAQ:BIOA) gained 13.4% to $17.51 in pre-market trading after jumping 22% on Tuesday.
• Hyperscale Data Inc (NYSE:GPUS) surged 12.1% to $0.29 in pre-market trading after adding 5% on Tuesday.
• K Wave Media Ltd (NASDAQ:KWM) rose 8.7% to $0.45 in pre-market trading.
• AAR Corp (NYSE:AIR) gained 5.1% to $94.00 in pre-market trading after the company posted better-than-expected results for the second quarter and issued a strong sales forecast for the current quarter.

Losers

• Cohen & Company Inc (NYSE:COHN) fell 15.1% to $27.50 in pre-market trading after gaining 12% on Tuesday.
• Ernexa Therapeutics Inc (NASDAQ:ERNA) fell 9.5% to $1.15 in pre-market trading after rising 5% on Tuesday.
• Next Technology Holding Inc (NASDAQ:NXTT) fell 9% to $8.40 in pre-market trading after rising 17% on Tuesday.
• Gloo Holdings Inc (NASDAQ:GLOO) declined 8.1% to $5.02 in pre-market trading.
• EZGO Technologies Ltd (NASDAQ:EZGO) dipped 7.9% to $1.97 in pre-market trading after jumping 5% on Tuesday.
• Star Fashion Culture Holdings Ltd (NASDAQ:STFS) fell 7.8% to $0.093 in pre-market trading.
• Processa Pharmaceuticals Inc (NASDAQ:PCSA) tumbled 6.8% to $3.15 in pre-market trading after gaining 5% on Tuesday.
• Kandal M Venture Ltd (NASDAQ:FMFC) shares dipped 6.1% to $0.37 in pre-market trading after surging 18% on Tuesday.
• Datavault AI Inc (NASDAQ:DVLT) dipped 4.3% to $1.34 in pre-market trading.
• AST SpaceMobile Inc (NASDAQ:ASTS) fell 4.3% to $93.31 in pre-market trading after gaining 7% on Tuesday.

Now Read This:

• How To Earn $500 A Month From TD Synnex Stock Ahead Of Q4 Earnings

Photo via Shutterstock

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.