Enphase Energy Posts Downbeat Results, Joins McDonald's, Seagate And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

U.S. stock futures were lower this morning, with the Dow futures falling around 200 points on Wednesday.

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) fell sharply in today's pre-market trading after the company reported worse-than-expected third-quarter financial results.

Enphase Energy reported third-quarter revenue of $380.9 million, missing the consensus estimate of $391.979 million. The solar company reported adjusted earnings of 65 cents per share, missing analyst estimates of 77 cents per share, according to Benzinga Pro.

Enphase Energy shares tumbled 15.2% to $78.21 in pre-market trading.

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

  • Alto Neuroscience, Inc. (NYSE:ANRO) shares dipped 61.4% to $5.59 in pre-market trading after the company announced topline results from a Phase 2b trial evaluating ALTO-100 as a treatment for major depressed disorder did not meet its primary endpoint.
  • Vertiv Holdings Co (NYSE:VRT) shares fell 8.5% to $102.90 in pre-market trading following third-quarter results.
  • McDonald’s Corporation (NYSE:MCD) shares fell 7.2% to $292.20 following CDC reports of an E. coli outbreak linked to quarter pounders.
  • Seagate Technology Holdings plc (NASDAQ:STX) fell 6.8% to $105.00 in pre-market trading following first-quarter results.
  • New Oriental Education & Technology Group Inc. (NYSE:EDU) shares fell 6.2% to $62.99 in pre-market trading following first-quarter results.
  • Hilton Worldwide Holdings Inc. (NYSE:HLT) shares fell 3.6% to $229.55 in pre-market trading after the company reported mixed third-quarter financial results and lowered FY24 GAAP EPS outlook.

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