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Calix Stock Plummets After Weak Q1 Forecast

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

Calix Expects Lower Q1 Earnings Than Estimated

Investors were met with disappointment as Calix, Inc. forecasted first-quarter adjusted EPS and revenue below estimates. The company predicts adjusted earnings of 17 cents to 23 cents per share, falling short of analysts’ expectations of 38 cents per share. Additionally, Calix foresees revenue of $225 million to $231 million, compared to the anticipated $267.57 million.

Stocks Across The Board Record Losses

Calix, Inc. was not the only company to struggle as several other big stocks also saw declines in today’s pre-market trading session. Nyxoah S.A., Borr Drilling Limited, PDD Holdings Inc., MINISO Group Holding Limited, Valaris Limited, BrightSpring Health Services, Inc., and J-Long Group Limited were among the companies experiencing decreases in their stock value.

Diageo plc Follows Suit With Decline in Profit

Diageo plc didn’t escape the downward trend, as its shares fell 3.2% to $139.90 in pre-market trading. The company recently reported a decline in profit for the first half of fiscal 2024.


Now Read This: Investor Optimism Improves Slightly Ahead Of Big Earnings, Fed’s Policy Decision

Don’t forget to check out our premarket coverage here

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