Medifast Reports Mixed Results, Joins Coursera, Chegg And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session
U.S. stock futures were slightly lower this morning, with the Nasdaq futures falling around 0.1% on Tuesday.
Shares of Medifast, Inc. (NYSE:MED) fell sharply in today's pre-market trading after the company reported mixed first-quarter financial results.
Medifast posted adjusted earnings of 66 cents per share, missing market estimates of 78 cents per share. The company's quarterly sales came in at $174.739 million versus expectations of $168.900 million, according to data from Benzinga Pro.
Medifast shares tumbled 15.6% to $29.95 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
- Coursera, Inc. (NYSE:COUR) shares dipped 12.7% to $10.37 in pre-market trading after the company reported mixed first-quarter financial results and issued FY24 revenue guidance below estimates.
- Chegg, Inc. (NYSE:CHGG) shares declined 12.1% to $6.30 in pre-market trading after the company posted first-quarter results and named Nathan Shultz as CEO.
- ADC Therapeutics SA (NASDAQ:ADCT) fell 6.7% to $4.20 in pre-market trading. The company, earlier during the month, announced the completion of dose escalation in LOTIS-7, a Phase 1b open-label clinical trial evaluating ZYNLONTA in combination with glofitamab or mosunetuzumab in heavily pre-treated patients with relapsed/refractory B-cell non-Hodgkin lymphoma.
- Mesoblast Ltd (NASDAQ:MESO) shares declined 5.7% to $6.69 in pre-market trading.
- Coeur Mining, Inc. (NYSE:CDE) shares fell 5.7% to $4.63 in pre-market trading.
- Prudential plc (NYSE:PUK) slipped 5.1% to $17.84 in pre-market trading. Prudential, last month, reported worse-than-expected FY 2023 revenues and earnings.
- Yum China Holdings, Inc. (NYSE:YUMC) shares declined 5.1% to $38.00 in pre-market trading. Yum China posted upbeat earnings for its first quarter, while sales missed expectations.
- Sibanye Stillwater Limited (NYSE:SBSW) shares fell 5% to $4.82 in pre-market trading.
- Rambus Inc. (NASDAQ:RMBS) shares declined 4.1% to $58.01 in pre-market trading following first-quarter results.
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