US stock futures are pointing upwards this morning, with the Nasdaq futures gaining around 50 points. Despite the overall positive sentiment, Snowflake Inc. (SNOW) saw its shares take a dip in pre-market trading after announcing a $2 billion private placement of senior convertible notes. The company plans to issue $1 billion in notes due 2027 and another $1 billion due 2029. As a result, Snowflake shares fell 3.3% to $109.56 in pre-market trading.
Several other notable stocks are experiencing losses in today’s pre-market session. Light & Wonder, Inc. (LNW) shares plummeted 17.1% to $93.43 after the company received a preliminary injunction from the U.S. District Court for the District of Nevada in favor of Aristocrat regarding L&W’s Dragon Train game.
Hawaiian Electric Industries, Inc. (HE) shares fell 10.5% to $9.75 following a $500 million secondary stock offering of 54 million shares at $9.25 per share.
Uxin Limited (UXIN) saw its shares drop 5.8% to $2.34 in pre-market trading, despite a 54% jump on Monday after the company reported a year-over-year increase in first-quarter sales results.
Other notable pre-market decliners include argenx SE (ARGX), down 3.3% to $511.19, Universal Stainless & Alloy Products, Inc. (USAP), down 2.4% to $39.10, and Grifols, S.A. (GRFS), down 2.4% to $8.59.
It’s important to note that these are just pre-market movements and the actual trading day may bring different outcomes.
