Victoria's Secret Posts Weak Sales, Joins ADT, Avid Bioservices And Other Big Stocks Moving Lower In Thursday's Pre-Market Session
U.S. stock futures were mixed this morning, with the Nasdaq futures gaining by around 0.1% points on Thursday.
Shares of Victoria's Secret & Co. (NYSE:VSCO) fell sharply in today’s pre-market trading after reporting fourth-quarter results.
Victoria’s Secret posted upbeat earnings for its fourth quarter, while sales missed estimates. The company’s board also authorized a new share repurchase program of up to $250 million. The company also guided for full-year 2024 revenue of around $6 billion versus estimates of $6.28 billion, according to data from Benzinga Pro.
Victoria's Secret shares tumbled 32.1% to $17.40 in pre-market trading.
Here are some big stocks recording losses in today’s pre-market trading session.
- Avid Bioservices, Inc. (NASDAQ:CDMO) shares tumbled 27.4% to $6.38 in pre-market trading after the company reported certain preliminary third-quarter financial results and announced a proposed $160 million private placement of convertible notes.
- Solowin Holdings (NASDAQ:SWIN) dipped 21.3% to $37.00 in pre-market trading after jumping 135% on Wednesday.
- ADT Inc. (NYSE:ADT) shares fell 12.9% to $6.51 in pre-market trading as the company reported pricing of secondary public offering of common stock and concurrent share repurchase.
- TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) declined 8% to $10.00 in pre-market trading after the company reported worse-than-expected fourth-quarter financial results.
- MMTec, Inc. (NASDAQ:MTC) shares slipped 5.6% to $2.18 in pre-market trading after declining around 4% on Wednesday.
- Dada Nexus Limited (NASDAQ:DADA) shares fell 5.1% to $2.43 in pre-market trading. Dada Nexus filed documents with the SEC late Tuesday following the completion of an independent review.
- XPeng Inc. (NYSE:XPEV) shares fell 4% to $9.22 in pre-market trading after gaining around 5% on Wednesday.
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