U.S. stock futures showed a positive start to the day, with the Dow futures gaining approximately 200 points on Thursday. However, a wave of disappointing earnings reports brought down several companies’ share prices in pre-market trading.
Guess? Inc. (GES) experienced a significant drop after releasing its second-quarter results. The company’s adjusted earnings per share (EPS) came in below analyst expectations at 42 cents, and its full-year adjusted EPS guidance also fell short of forecasts. While the company’s quarterly sales of $732.560 million surpassed analyst estimates, the earnings miss overshadowed the positive sales figures. As a result, Guess? shares plunged by 8.6% to $18.49 in pre-market trading.
Other companies that saw their shares decline in pre-market trading include:
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Pure Storage, Inc. (PSTG):
Shares tumbled 15.3% to $50.60 after the company released its second-quarter financial results.*
Applied Digital Corporation (APLD):
The company’s shares dropped 11.8% to $3.89 following the report of a wider-than-expected quarterly loss.*
Okta, Inc. (OKTA):
Shares fell 8.1% to $88.74 after releasing its second-quarter results.*
NCR Voyix Corporation (VYX):
Shares declined 7.6% to $12.45 in pre-market trading.*
Topgolf Callaway Brands Corp. (MODG):
Shares fell 5.4% to $10.00 in pre-market trading.*
Ballard Power Systems Inc (BLDP):
Shares declined 3.9% to $1.74 in pre-market trading.*
Logistic Properties of the Americas (LPA):
Shares slipped 2.2% to $10.84 in pre-market trading.*
NVIDIA Corporation (NVDA):
Shares fell 2% to $123.08 in pre-market trading. While Nvidia reported better-than-expected earnings and sales results for its second quarter on Wednesday, the company’s gross margin contracted from the first quarter, leading to some investor concerns.It’s important to note that pre-market trading can be volatile, and these share price movements may not necessarily reflect the overall market sentiment for the day.
