February 23, 2024 4:50 AM | 2 min read
U.S. stock futures were lower this morning, with the Dow futures trading lower by around 25 points on Friday.
The distress of Ardelyx, Inc. hit the pre-market with a thunderous crash after the company reported turbulent fourth-quarter financial results.
Ardelyx reported losses of 12 cents per share as opposed to the analyst consensus estimate of 10 cents. The company’s sales of $34.36 million marginally exceeded the analyst consensus estimate of $34.23 million, as reported by Benzinga Pro.
The medley of poor news descended upon Ardelyx’s share price which dipped 13.3% to $7.65 in pre-market trading.
Ardelyx’s travails cast a gloomy pall over several other big stocks, each painting a picture of loss and desolation in today’s pre-market trading session.
- Applied Optoelectronics, Inc. AAOI shares dwindled by 38.2% to $12.58 in pre-market trading after reporting fourth-quarter results.
- indie Semiconductor, Inc. INDI shares sagged 15% to $5.86 in pre-market trading following weak quarterly sales.
- ModivCare Inc. MODV shares stumbled 14.2% to $37.64 in pre-market trading after the company issued a somber sales forecast for the first quarter.
- Booking Holdings Inc. BKNG shares declined 9.1% to $3,545.61 in pre-market trading after the company’s fourth-quarter financial results.
- MercadoLibre, Inc. MELI shares fell 8.1% to $1,671.42 in pre-market trading after the company’s fourth-quarter financial results.
- Copart, Inc. CPRT shares declined 7.8% to $45.56 in pre-market trading after the company reported worse-than-expected second-quarter financial results.
- AVITA Medical, Inc. RCEL shares fell 7.8% to $15.69 in pre-market trading following weak quarterly sales.
- Main Street Capital Corporation MAIN declined 6% to $43.00 in pre-market trading following fourth-quarter financial results.
- Canaan Inc. CAN shares fell 4.9% to $1.93 in pre-market trading. Canaan is expected to report fourth-quarter financial results on Feb. 27, 2024.
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