Intuit, Workday And Other Big Stocks Moving Lower In Friday's Pre-Market Session

U.S. stock futures were higher this morning, with the Dow futures gaining around 50 points on Friday.

Shares of Intuit Inc. INTU fell sharply in today's pre-market trading following third-quarter results.

Intuit posted better-than-expected earnings for its third quarter and boosted its full-year outlook. However, the company issued weak earnings guidance for the current quarter.

Intuit's third-quarter revenue increased 12% year-over-year to $6.737 billion, beating the consensus estimate of $6.647 billion. The financial technology platform company reported adjusted earnings of $9.88 per share, beating analyst estimates of $9.37 per share, according to Benzinga Pro.

Intuit shares declined 6.3% to $620.82 in pre-market trading.

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

  • Summit Therapeutics Inc. SMMT shares dipped 21.2% to $3.40 in pre-market trading.
  • Workday, Inc. WDAY shares fell 12.4% to $228.48 in pre-market trading. Workday posted upbeat earnings for its first quarter. However, the company lowered its forward guidance and now sees second-quarter subscription revenue of $1.895 billion and fiscal-year subscription revenue of between $7.7 billion and $7.725 billion.
  • Cognyte Software Ltd. CGNT shares declined 6.9% to $6.94 in pre-market trading.
  • Genmab A/S GMAB shares fell 4.5% to $28.01 in pre-market trading.
  • NetEase, Inc. NTES shares declined 3.7% to $91.15 in pre-market trading after the company reported worse-than-expected first-quarter revenue.
  • Lithium Americas (Argentina) Corp LAAC shares fell 2.4% to $4.58 in pre-market trading.
  • Ryanair Holdings plc RYAAY shares slipped 2.3% to $124.72 in pre-market trading.

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Don't forget to check out our premarket coverage here

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