US stock futures took a tumble this morning, with the Nasdaq futures falling over 80 points. The decline was fueled by a disappointing earnings report from FedEx Corporation (FDX), which sent the company’s shares plummeting in pre-market trading.
FedEx’s first-quarter results for fiscal 2025 fell short of analyst expectations, prompting the company to lower its full-year guidance. Revenue for the quarter reached $21.6 billion, missing estimates of $21.955 billion. Adjusted earnings per share came in at $3.60, below the projected $4.80. This news resulted in a steep 13.1% drop in FedEx shares, pushing them down to $260.92 in pre-market trading.
Joining FedEx in the pre-market decline were several other notable stocks:
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Rezolve AI Limited (RZLV)
saw a 11.3% dip to $6.21 after soaring around 47% on Thursday.*
Veea Inc. (VEEA)
shares shed 7.6% to $10.22, following a 10% decline on Thursday. Veea recently announced a strategic partnership with Crowdkeep to integrate their technologies for asset, people, and condition tracking.*
MillerKnoll, Inc. (MLKN)
fell 5.4% to $25.99 after reporting disappointing first-quarter financial results on Thursday.*
Adient plc (ADNT)
shares dropped 5.1% to $21.43.*
Frontline plc (FRO)
declined 5% to $22.75.*
Evotec SE (EVO)
slipped 5% to $3.46.*
Hafnia Limited (HAFN)
shares fell 4.9% to $7.34.*
Lennar Corporation (LEN)
shares slid 3.1% to $186.45 despite reporting better-than-expected third-quarter financial results. The company projected fourth-quarter new orders between 19,000 and 19,300 and deliveries between 22,500 and 23,000, with an expected average sales price of approximately $425,000.The pre-market losses highlight the ongoing market volatility and investors’ sensitivity to earnings reports. While some companies are exceeding expectations, others are struggling to meet targets, leading to significant stock price swings.
