Home Market News Small Caps Shoals Technologies Stumbles in Q4 – Drags Down Butterfly Network, Schrödinger and Other Major Stocks

Shoals Technologies Stumbles in Q4 – Drags Down Butterfly Network, Schrödinger and Other Major Stocks

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Shoals Technologies Stumbles in Q4 – Drags Down Butterfly Network, Schrödinger and Other Major Stocks

U.S. stock futures opened to gloom today, the Dow shedding over 100 points before trading commenced.

Slipping into the red in pre-market activity, Shoals Technologies Group, Inc. SHLS faced the music following a disappointing fourth-quarter financial performance and a fiscal year 2024 revenue forecast that missed the mark.

Despite the tech company posting adjusted earnings of 12 cents per share, it failed to meet the street’s expectation of 17 cents per share. Quarterly sales came in at $130.40 million, falling short of predictions at $131.94 million.

Reacting to the news, Shoals Technologies Group shares nosedived by 17.6% to $12.68 in pre-market trading.

Joining the downward trend are several other well-known names, including the following big stocks facing losses in today’s pre-market:

  • Snowflake Inc. SNOW saw a 23% tumble to $177.17 in pre-market activity. Despite good news on the earnings front for the fourth quarter, there was a shakeup in the C-suite as CEO Frank Slootman steps down, transitioning to a chairman role, welcoming Sridhar Ramaswamy as the new CEO and board member.
  • WW International, Inc. WW slid down by 21.9% to $2.98 ahead of regular trading hours after unveiling lackluster fourth-quarter financials and revealing Oprah Winfrey’s decision not to seek re-election as a director at the upcoming shareholders’ meeting.
  • Butterfly Network, Inc. BFLY dipped by 18.2% to $1.21 off the back of reporting mixed fourth-quarter financial results.
  • FIGS, Inc. FIGS plummeted by 15.3% to $5.11 in pre-market trading following the release of mixed quarterly financial results.
  • Schrödinger, Inc. SDGR underwent a 15% decline, down to $26.66, after sharing mixed fourth-quarter financial results.
  • The Chemours Company CC weakened by 13% to $24.99 in pre-market trading. The Chemours Company appointed Denise Dignam as interim CEO and Matt Abbott as interim CFO, while also providing a preliminary snapshot of results for 2023.
  • Inari Medical, Inc. NARI saw an 11.1% drop to $51.80 in pre-market trading after reporting a loss in the fourth quarter.
  • IonQ, Inc. IONQ fell by 8.3% to $10.32 during pre-market hours following mixed fourth-quarter financial results.
  • Stem, Inc. STEM slipped by 8.1% to $2.51 in pre-market trading after unveiling quarterly results that fell below expectations.
  • AMC Entertainment Holdings, Inc. AMC saw a 7.8% dip to $4.60 in pre-market trading after the release of quarterly results.
  • NetEase, Inc. NTES declined by 5.7% to $105.93 in pre-market trading following the release of fourth-quarter financial results that missed estimates.
  • HP Inc. HPQ dipped by 3.4% to $27.75 in pre-market trading. HP reported earnings in line with expectations for the first quarter, but sales were below estimates. The company also projected FY24 earnings within the range of $3.25 to $3.65 per share.

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