IBM Reports Weak Revenue, Joins Meta Platforms And Other Big Stocks Moving Lower In Thursday's Pre-Market Session
U.S. stock futures were lower this morning, with the Dow futures falling over 200 points on Thursday.
Shares of International Business Machines Corporation (NYSE:IBM) fell sharply in today's pre-market trading after the company reported mixed first-quarter financial results. The company also announced it will acquire HashiCorp.
IBM's first-quarter revenue increased 1% year-over-year to $14.46 billion, which missed the consensus estimate of $14.55 billion, according to Benzinga Pro. The company reported quarterly adjusted earnings of $1.68 per share, which beat analyst estimates of $1.60 per share.
IBM shares tumbled 8.4% to $168.73 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
- Meta Platforms, Inc. (NASDAQ:META) shares declined 12.9% to $429.25 in pre-market trading after reporting first-quarter results.
- MarineMax, Inc. (NYSE:HZO) shares fell 12.8% to $23.70 in pre-market trading after the company posted downbeat quarterly results and slashed FY24 EPS guidance.
- Southwest Airlines Co. (NYSE:LUV) shares declined 8.4% to $26.85 in pre-market trading after the company reported worse-than-expected first-quarter financial results.
- Vista Energy, S.A.B. de C.V. (NYSE:VIST) shares fell 8.3% to $39.80 in pre-market trading after the company reported worse-than-expected first-quarter financial results.
- Textron Inc. (NYSE:TXT) shares fell 7.1% to $87.34 in pre-market trading following weaker-than-expected quarterly earnings.
- Snap Inc. (NYSE:SNAP) fell 5% to $10.53 pre-market trading.
- Graco Inc. (NYSE:GGG) shares slipped 4.9% to $85.02 in pre-market trading following downbeat first-quarter results.
- ServiceNow, Inc. (NYSE:NOW) shares fell 4.1% to $715.50 in pre-market trading after the company reported first-quarter financial results.
Now Read This: Jim Cramer Says This Energy Stock Is ‘Terrific,’ Calls Casey’s General Stores A ‘Winner’
Don't forget to check out our premarket coverage here