Shares of Group Limited (GAMB) and Globant (GLOB) experienced notable declines in pre-market trading following their recent earnings reports and guidance updates. GAMB reported second-quarter earnings and revenues that beat estimates, yet its stock fell 16.2% pre-market. Several financial institutions, including Jefferies, Stifel, BTIG, and Truist, lowered their price targets for GAMB, with Truist downgrading the stock from Buy to Hold. Globant's shares dropped 15.0% pre-market after the company issued guidance that fell short of market expectations. Needham and JPMorgan subsequently reduced their price targets for Globant, though Needham maintained a Buy rating. On Wall Street, Argentine stocks closed mostly lower, with one stock falling 12%. The declines occurred amid local market tensions and a holiday closure of the Buenos Aires stock exchange. Argentine bonds also traded lower in New York, reflecting broader investor concerns.
Las acciones y los bonos argentinos operaron en baja en Wall Street, afectados por las tensiones del mercado local https://t.co/RzxLJCTvcK
📉 Las acciones argentinas cayeron en el cierre de la semana en Wall Street, en una jornada donde la bolsa porteña permaneció cerrada a partir del día no laborable con fines turísticos decretado por el Gobierno | Más información en https://t.co/0lFD9PRC2n https://t.co/x4JST6j0Ml
$GAMB -Jefferies, Stifel lower https://t.co/Tipx4D8jDp targetbto $15 from $18 Buy -BTIG lowers target to $12 from $19 Buy -Truist lowers target to $11 from $17 Downgrades to Hold from Buy - $GLOB -Needham lowers Globant target to $85 from $115 Buy -JPMorgan lowers target to