DLocal Posts Weak Results, Joins HP, Autodesk And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

U.S. stock futures traded higher this morning, with the Dow Jones futures gaining around 40 points on Wednesday.

Shares of DLocal Limited DLO shares tumbled in pre-market trading after the company reported downbeat third-quarter financial results and reaffirmed FY23 revenue guidance below estimates.

DLocal posted quarterly earnings of 13 cents per share, missing market estimates of 15 cents per share. The company’s quarterly sales came in at $163.92 million versus expectations of $168.51 million, according to data from Benzinga Pro.

The company also announced that CFO Diego Cabrera Canay decided to step down from his position to pursue other opportunities.

DLocal shares fell 12.9% to $16.38 in pre-market.

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

• Guess?, Inc. GES shares fell 15.2% to $20.11 in pre-market trading after the company reported worse-than-expected third-quarter financial results and issued fourth-quarter adjusted EPS guidance below estimates.
• The Beachbody Company, Inc. BODY shares fell 16.2% to $6.28 in pre-market trading. The Beachbody Company completed a 1-for-50 reverse stock split.
• Gaotu Techedu Inc. GOTU fell 7.4% to $2.52 in pre-market trading following third-quarter results.
• Virgin Galactic Holdings, Inc. SPCE fell 5.6% to $2.01 in pre-market trading after declining 5% on Tuesday.
• Autodesk, Inc. ADSK fell 5.3% to $206.21 in pre-market trading. Autodesk posted upbeat results for the third quarter. The company also said it sees full-year earnings between $7.43 and $7.49 per share and revenue between $5.45 billion and $5.465 billion.
• MorphoSys AG MOR fell 4.4% to $4.35 in pre-market trading after dipping 22% on Tuesday. MorphoSys released topline results from the Phase 3 MANIFEST-2 study investigating pelabresib, an investigational BET inhibitor, in combination with the JAK inhibitor ruxolitinib compared with placebo plus ruxolitinib in JAK inhibitor-naïve patients with myelofibrosis.
• Symbotic Inc. SYM fell 3.7% to $50.15 in pre-market trading. Symbotic shares gained over 40% on Tuesday after the company reported better-than-expected fourth-quarter sales results.
• HP Inc. HPQ fell 2.3% to $27.22 in pre-market trading. HP said its revenue declined 6.5% to $13.8 billion for the fourth quarter. The company said it sees first-quarter earnings of 76 cents to 86 cents per share and also affirmed its full-year profit forecast of $3.25 to $3.65 per share.

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