Ericsson Posts Weak Results, Joins East West Bancorp And Other Big Stocks Moving Lower In Friday's Pre-Ma

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

Shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) fell sharply in today's pre-market trading after the company reported fourth-quarter fiscal 2024 results on Friday.

The Swedish telecom equipment maker's sales grew 1% year-over-year to 72.9 billion Swedish Krona, driven by 54% growth in the North American market. In USD, sales of $6.77 billion missed the analyst consensus estimate of $6.93 billion. Ericsson reported an EPS of SEK 1.44 versus SEK 1.02 Y/Y. In USD, EPS of $0.13 missed the analyst consensus estimate of $0.19.

Ericsson shares tumbled 8.7% to $8.13 in the pre-market trading session.

Here are some other stocks moving lower in pre-market trading.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) shares dipped 29.8% to $7.20 in pre-market trading.
First Financial Bancorp. (NASDAQ:FFBC) declined 13.8% to $24.11 in pre-market trading after the company reported fourth-quarter results.
Valens Semiconductor Ltd. (NYSE:VLN) fell 12% to $2.58 in pre-market trading after declining 3% on Thursday.
Acacia Research Corporation (NASDAQ:ACTG) fell 11.7% to $3.86 in today's pre-market trading.
Semler Scientific, Inc. (NASDAQ:SMLR) shares dipped 10.9% to $54.49 in pre-market trading after the company provided preliminary fourth-quarter guidance and proposed a $75 million private offering of convertible senior notes due 2030.
The Manitowoc Company, Inc. (NYSE:MTW) shares tumbled 10.2% to $8.95 in pre-market trading.
Arcus Biosciences, Inc. (NASDAQ:RCUS) shares fell 9.9% to $12.01 in pre-market trading.
East West Bancorp, Inc. (NASDAQ:EWBC) shares declined 6.6% to $96.64 in pre-market trading after the company reported worse-than-expected Q4 earnings results.