Oracle Reports Weak Sales, Joins Kinetik, Lucid Group And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

U.S. stock futures were higher this morning, with the Dow Jones futures gaining over 50 points on Tuesday.

Shares of Oracle Corporation ORCL shares fell sharply in pre-market trading following the release of quarterly results. Oracle reported upbeat earnings for its second quarter, while sales missed estimates.

Oracle reported quarterly adjusted earnings of $1.34 per share, topping the Street's estimate of $1.32. Revenue of $12.94 billion fell short of the analyst consensus estimate of $13.05 billion.

Oracle shares dipped 8.5% to $105.40 in pre-market trading.

Here are some big stocks recording losses in today’s pre-market trading session.

• Kinetik Holdings Inc. KNTK shares fell 7.6% to $31.70 in pre-market trading. Kinetik reported the pricing of an upsized underwritten secondary offering of 6,500,000 shares of its Class A common stock by Apache Midstream LLC at a price of $31.50 per share.
• Harmony Gold Mining Company Limited HMY shares declined 5.7% to $5.75 in pre-market trading after gaining 3% on Monday.
• GoPro, Inc. GPRO shares declined 5.6% to $3.38 in pre-market trading.
• Genmab A/S GMAB shares fell 5.5% to $30.18 in pre-market trading.
• Lucid Group, Inc. LCID shares fell 3.9% to $4.43 in pre-market trading. Lucid Group disclosed that CFO Sherry House is resigning to pursue other opportunities.
• RTX Corporation RTX shares declined 3.2% to $79.24 in pre-market trading.
• Airbnb, Inc. ABNB shares fell 2.8% to $138.86 in pre-market trading.

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