Netflix Posts Downbeat Earnings, Joins Aveanna Healthcare, Texas Instruments And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

U.S. stock futures were slightly higher this morning, with the Dow futures gaining around 0.1% on Wednesday.

Shares of Netflix, Inc. (NASDAQ:NFLX) fell sharply in pre-market trading as the company reported downbeat third-quarter financial results Tuesday after market close.

Netflix reported third-quarter revenue of $11.51 billion, up 17.2% year-over-year. The revenue total missed a Street consensus estimate of $11.514 billion, according to data from Benzinga Pro. The company reported earnings per share of $5.87, missing a Street consensus estimate of $6.97.

Netflix shares dipped 6.9% to $1,156.00 in pre-market trading.

Here are some other stocks moving lower in pre-market trading.

Alector, Inc. (NASDAQ:ALEC) tumbled 57.6% to $1.36 in pre-market trading after the company announced it will discontinue the open-label extension for Latozinemab and reduce its workforce by about 49%.
Newegg Commerce, Inc. (NASDAQ:NEGG) fell 22.6% to $38.70 in pre-market trading after declining 5% on Tuesday.
Terns Pharmaceuticals, Inc. (NASDAQ:TERN) dipped 13.3% to $7.00 in pre-market trading after CEO Amy Burroughs said that the Phase 2 topline 12-week results for TERN-601 did not meet the threshold for a truly differentiated oral GLP-1RA therapy and will likely preclude further development.
Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) shares declined 11.9% to $9.01 in pre-market trading as the company announced pricing of secondary offering of common stock.
Critical Metals Corp. (NASDAQ:CRML) dipped 11.3% to $14.44 in pre-market trading. Critical Metals shares fell 17% on Tuesday after the company announced an offering of 18.03 million shares.
Bgin Blockchain Limited (NASDAQ:BGIN) declined 9.5% to $4.49 in pre-market trading after falling 17% on Tuesday.
Genprex, Inc. (NASDAQ:GNPX) declined 8.7% to $10.50 in pre-market trading. Genprex shares fell 18% on Tuesday after the company implemented previously disclosed 1-for-50 reverse stock split, reducing outstanding shares to 1,004,326.
Texas Instruments Incorporated (NASDAQ:TXN) declined 7.7% to $167.00 in pre-market trading after the company issued fourth-quarter EPS and sales guidance below analyst estimates.
Almonty Industries Inc. (NASDAQ:ALM) fell 7.5% to $7.75 in pre-market trading after declining 7% on Tuesday.