Perion Network Cuts Revenue Outlook, Joins Skye Bioscience And Other Big Stocks Moving Lower In Monday's Pre-Market Session

U.S. stock futures were lower this morning, with the Dow futures falling over 50 points on Monday.

Shares of Perion Network Ltd. PERI fell sharply in today's pre-market trading after the company lowered its revenue forecast.

Perion Network slashed its second-quarter revenue forecast from $118 million – $122 million to $106 million – $108 million. The company lowered its FY24 revenue forecast from $590 million – $610 million to $490 million – $510 million.

Perion Network shares dipped 21% to $9.74 in pre-market trading.

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

  • Skye Bioscience, Inc. SKYE shares tumbled 45.2% to $6.00 in pre-market trading as the company said its Phase 2a clinical trial of SBI-100 Ophthalmic Emulsion in patients with primary open-angle glaucoma or ocular hypertension did not meet its primary endpoint for lowering intraocular pressure.
  • CI&T Inc. CINT shares declined 17.7% to $4.00 in pre-market trading.
  • Sify Technologies Limited SIFY shares dipped 10.7% to $0.7413 in pre-market trading after the company announced intent to delist ADS Rights from the Nasdaq Capital Market.
  • Ecarx Holdings Inc. ECX shares fell 9.2% to $0.98 in pre-market trading.
  • Alector Inc ALEC shares declined 8.3% to $4.00 in pre-market trading.
  • TeraWulf Inc. WULF shares fell 5.8% to $2.91 in pre-market trading after declining around 4% on Friday.
  • BW LPG Limited BWLP shares fell 4.2% to $18.86 in pre-market trading.
  • Palantir Technologies Inc. PLTR shares fell 3.6% to $22.48 in pre-market trading.
  • Rush Street Interactive, Inc. RSI shares fell 3.4% to $8.60 in  pre-market trading.

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Don't forget to check out our premarket coverage here

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