U.S. stock futures were higher this morning, with Nasdaq futures trading up by around 80 points on Wednesday.
Shares of Airbnb, Inc. ABNB took a hit in today’s pre-market trading after the company reported fourth-quarter financial results.
Airbnb said fourth-quarter revenue increased 17% year-over-year to $2.22 billion, trumping the consensus estimate of $2.16 billion. The company reported a quarterly loss of 55 cents per share, according to data from Benzinga Pro.
Airbnb foresees first-quarter revenue in the range of $2.03 billion to $2.07 billion versus estimates of $2.03 billion.
Despite the surge in revenue, Airbnb shares stumbled 6.1% to $141.67 in pre-market trading.
Here are some big stocks taking a nosedive in today’s pre-market trading session.
- QuidelOrtho Corporation QDEL shares dipped 32.6% to $45.03 in pre-market trading after the company reported worse-than-expected fourth-quarter financial results and issued FY24 adjusted EPS below estimates.
- Nukkleus Inc. NUKK shares fell 27.6% to $1.42 in pre-market trading after surging over 55% on Tuesday. Goldman Sachs reported a 7.2% passive stake in Nukkleus as of Dec. 29, 2023.
- Upstart Holdings, Inc. UPST tumbled 19.7% to $26.39 in pre-market trading after the company issued first-quarter revenue guidance below estimates.
- BlackLine, Inc. BL fell 14.2% to $50.00 in pre-market trading after reporting quarterly results.
- HUTCHMED (China) Limited HCM shares fell 5.1% to $13.30 in pre-market trading.
- VIZIO Holding Corp. VZIO fell 4.7% to $9.29 in pre-market trading. VIZIO shares jumped around 25% on Tuesday following a WSJ report suggesting Walmart is in talks to buy the company for more than $2 billion.
- Corsair Gaming, Inc. CRSR shares declined 4.5% to $12.25 in pre-market trading following weak quarterly results.
- Maplebear Inc. CART fell 4% to $26.75 in pre-market trading following quarterly results.
- Topgolf Callaway Brands Corp. MODG fell 3.9% to $13.00 in pre-market trading after the company posted fourth-quarter results and issued 2024 guidance.
- MGM Resorts International MGM shares declined 3.8% to $43.89 in pre-market trading after the company reported fourth-quarter financial results.
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