Medifast Reports Mixed Results, Joins Coursera, Chegg And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

U.S. stock futures were slightly lower this morning, with the Nasdaq futures falling around 0.1% on Tuesday.

Shares of Medifast, Inc. MED fell sharply in today's pre-market trading after the company reported mixed first-quarter financial results.

Medifast posted adjusted earnings of 66 cents per share, missing market estimates of 78 cents per share. The company's quarterly sales came in at $174.739 million versus expectations of $168.900 million, according to data from Benzinga Pro.

Medifast shares tumbled 15.6% to $29.95 in pre-market trading.

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

• Coursera, Inc. COUR shares dipped 12.7% to $10.37 in pre-market trading after the company reported mixed first-quarter financial results and issued FY24 revenue guidance below estimates.
• Chegg, Inc. CHGG shares declined 12.1% to $6.30 in pre-market trading after the company posted first-quarter results and named Nathan Shultz as CEO.
• ADC Therapeutics SA ADCT fell 6.7% to $4.20 in pre-market trading. The company, earlier during the month, announced the completion of dose escalation in LOTIS-7, a Phase 1b open-label clinical trial evaluating ZYNLONTA in combination with glofitamab or mosunetuzumab in heavily pre-treated patients with relapsed/refractory B-cell non-Hodgkin lymphoma.
• Mesoblast Ltd MESO shares declined 5.7% to $6.69 in pre-market trading.
• Coeur Mining, Inc. CDE shares fell 5.7% to $4.63 in pre-market trading.
• Prudential plc PUK slipped 5.1% to $17.84 in pre-market trading. Prudential, last month, reported worse-than-expected FY 2023 revenues and earnings.
• Yum China Holdings, Inc. YUMC shares declined 5.1% to $38.00 in pre-market trading. Yum China posted upbeat earnings for its first quarter, while sales missed expectations.
• Sibanye Stillwater Limited SBSW shares fell 5% to $4.82 in pre-market trading.
• Rambus Inc. RMBS shares declined 4.1% to $58.01 in pre-market trading following first-quarter results.

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