U.S. stock futures opened higher this morning, with the Dow futures up by about 70 points on Thursday.
Cisco Systems, Inc. (CSCO) shares sank in today’s pre-market trading following their announcement of second-quarter results.
The company posted second-quarter financial results that exceeded expectations but issued a pessimistic full-year 2024 forecast. Additionally, Cisco revealed a restructuring plan that will result in a reduction of approximately 5% of its global workforce.
Consequently, Cisco Systems shares plummeted by 5.2% to $47.68 in pre-market trading.
Several other major stocks also experienced losses in today’s pre-market trading session.
- Nu Skin Enterprises, Inc. (NUS) shares dropped by 24% to $13.25 in pre-market trading after releasing their fourth-quarter financial results.
- Fastly, Inc. (FSLY) shares dipped by 23.1% to $18.10 in pre-market trading subsequent to their mixed fourth-quarter financial results.
- enGene Holdings Inc. (ENGN) shares declined by 13.3% to $14.30 in pre-market trading. The previous day, enGene shares had surged by around 116% after the company announced an oversubscribed $200 million private placement financing.
- Herbalife Ltd. (HLF) shares fell by 12.3% to $10.30 in pre-market trading following weak quarterly earnings.
- Twilio Inc. (TWLO) tumbled by 12.1% to $63.51 in pre-market trading after the company reported fourth-quarter financial results.
- Telomir Pharmaceuticals, Inc. (TELO) shares also tumbled, by 10.7% to $10.64 in pre-market trading, after having surged by approximately 70% on the previous day.
- Larimar Therapeutics, Inc. (LRMR) fell by 7.9% to $11.01 in pre-market trading post a gain of over 36% on the previous day. The company priced the public offering of 17.16 million shares at $8.74/share for gross proceeds of about $150 million.
- Rollins, Inc. (ROL) shares fell by 6.3% to $41.48 in pre-market trading following quarterly results.
- Albemarle Corporation (ALB) shares fell by 5.6% to $108.00 in pre-market trading after reporting quarterly results.
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