U.S. stock futures were mixed this morning, with the Dow futures gaining by around 10 points on Thursday.
Trouble for MillerKnoll, Inc. MLKN as it stumbled in today’s pre-market trading with disappointing sales for the third quarter and gloomy guidance for the fourth quarter.
MillerKnoll reported adjusted earnings of 45 cents per share, slightly above expectations. However, the company’s sales figure of $872.300 million fell short of the anticipated $909.500 million.
As a result, MillerKnoll shares nosedived by 17.4% to $25.19 in pre-market trading, sending shivers down investors’ spines.
Joining MillerKnoll in the downward spiral were several other big players in today’s pre-market session.
- GCT Semiconductor Holding Inc. GCTS saw its shares plummet by 21.2% to $34.68, a rollercoaster ride following recent business activities.
- The Chemours Company CC witnessed a 10% drop to $26.00 post the fourth-quarter results announcement, unveiling material weaknesses.
- The E.W. Scripps Company SSP slipped 5.3% to $3.75 in pre-market trading, with changes coming as Fox Factory Holding takes over its S&P SmallCap 600 spot.
- Better Home & Finance Holding Company BETR witnessed a 5% decline to $0.5169, cooling off after a brief surge on Wednesday.
- Reddit, Inc. RDDT saw a 4.7% decrease to $55.04, following an 11% dip on the prior day with concerns raised about their advertising model.
- Rumble Inc. RUM saw a 4.2% slide to $8.14, following disappointing quarterly sales figures.
- Petco Health and Wellness Company, Inc. WOOF experienced a 3.7% dip to $2.11 after a significant surge the day before.
In the volatile world of stocks, today’s market movements are a stark reminder of the unpredictability investors face.
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