U.S. stock futures were higher this morning, with the Dow Jones futures gaining around 70 points on Thursday.
Shares of Adobe Inc. ADBE shares moved lower in pre-market trading following the release of fourth-quarter results.
Adobe posted upbeat earnings for its fourth quarter, but issued weak sales forecast for full-year 2024. The company reported quarterly earnings of $4.27 per share which exceeded the Street's estimate of $4.14. Revenue clocked in at $5.05 billion, surpassing the analyst consensus estimate of $5.03 billion.
Adobe said it sees FY24 total revenue to be between $21.30 billion and $21.50 billion, versus the $21.73 billion estimate.
Adobe shares declined 6.1% to $586.38 in pre-market trading.
Here are some big stocks recording losses in today’s pre-market trading session.
- Ocular Therapeutix, Inc. OCUL shares dipped 18% to $3.23 in pre-market trading. Ocular Therapeutix priced its public offering of 30.8 million common share stock at $3.25 per share for gross proceeds of $100.1 million.
- AerSale Corporation ASLE shares fell 11.4% to $13.10 in pre-market trading. AerSale priced its secondary offering of 4 million common shares.
- Granite Point Mortgage Trust Inc GPMT shares fell 5.5% to $5.51 in pre-market trading after gaining 5% on Wednesday.
- Honda Motor Co., Ltd. HMC shares declined 3.7% to $29.50 in pre-market trading.
- MorphoSys AG MOR shares fell 3.4% to $9.21 in pre-market trading.
- Clean Energy Fuels Corp. CLNE shares fell 3.3% to $3.58 in pre-market trading after jumping 17% on Wednesday.
- Mueller Water Products, Inc. MWA shares fell 2.2% to $13.75 in pre-market trading. Mueller Water Products posted better-than-expected results for its fourth quarter. The company also said it sees first-quarter consolidated net sales of $245 million to $255 million.
Now Read This: Jabil, Costco And 3 Stocks To Watch Heading Into Thursday
Don’t forget to check out our premarket coverage here
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
