Etsy Reports Downbeat Earnings, Joins Fastly, DoorDash And Other Big Stocks Moving Lower In Thursday's Pre-Market Session
U.S. stock futures were higher this morning, with the Dow futures gaining over 150 points on Thursday.
Shares of Etsy, Inc. (NASDAQ:ETSY) fell sharply in today's pre-market trading after the company reported worse-than-expected first-quarter financial results.
Etsy reported first-quarter revenue of $645.954 million, which missed the consensus estimate of $646.33 million, according to Benzinga Pro. The company reported quarterly earnings of 48 cents per share, which missed estimates of 49 cents per share.
Etsy shares tumbled 13.2% to $60.45 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
- Fastly, Inc. (NYSE:FSLY) shares dipped 31.8% to $8.82 in pre-market trading after the company reported first-quarter financial results. The company said it expects second-quarter revenue in a range of $130 million and $134 million, versus the $140.16 million analyst estimate.
- Freshworks Inc. (NASDAQ:FRSH) shares tumbled 28.6% to $13.02 in pre-market trading after the company reported first-quarter financial results and announced a CEO transition. Baird analyst Rob Oliver downgraded Freshworks from Outperform to Neutral and lowered the price target from $28 to $16.
- Remitly Global Inc (NASDAQ:RELY) shares declined 16.7% to $14.58 in pre-market trading after the company reported mixed first-quarter financial results.
- DoorDash, Inc. (NASDAQ:DASH) dipped 12.5% to $111.50 pre-market trading after the company reported mixed first-quarter financial results.
- CytomX Therapeutics, Inc. (NASDAQ:CTMX) shares fell 12.7% to $4.48 after jumping 215% on Wednesday.
- Wolfspeed Inc (NYSE:WOLF) shares declined 11.3% to $23.15 in pre-market trading following weak quarterly sales.
- Qorvo, Inc. (NASDAQ:QRVO) shares dipped 10.6% to $100.00 in pre-market trading following weak first-quarter guidance.
- Paycom Software Inc (NYSE:PAYC) shares fell 9.3% to $169.00 in pre-market trading following weak second-quarter guidance.
- Hudson Technologies, Inc. (NASDAQ:HDSN) shares fell 8.2% to $9.00 in pre-market trading following first-quarter results.
- Appian Corp (NASDAQ:APPN) shares declined 7.4% to $34.00 in pre-market trading after the company reported worse-than-expected first-quarter earnings and updated FY24 outlook.
- Zillow Group, Inc. (NASDAQ:Z) shares declined 6.5% to $39.19 pre-market trading after the company reported its first-quarter financial results.
- Schrodinger Inc (NASDAQ:SDGR) shares declined 5.8% to $23.80 in pre-market trading after the company reported worse-than-expected first-quarter financial results.
- Prudential Financial Inc (NYSE:PRU) shares fell 5.4% to $106.29 in pre-market trading following downbeat earnings.
- eBay Inc (NASDAQ:EBAY) shares fell 3.4% to $49.35 in pre-market trading after the company reported first-quarter financial results.
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