Starbucks Reports Downbeat Earnings, Joins Skyworks Solutions, Super Micro Computer And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

Author: Avi Kapoor | May 01, 2024 05:57am

U.S. stock futures were lower this morning, with the Nasdaq futures falling over 100 points on Wednesday.

Shares of Starbucks Corporation (NASDAQ:SBUX) fell sharply in today's pre-market trading following weaker-than-expected second-quarter earnings.

Starbucks said second-quarter revenue decreased 2% year-over-year to $8.6 billion, which missed the consensus estimate of $9.129 billion, according to Benzinga Pro. The company reported quarterly earnings of 68 cents per share, which missed analyst estimates of 79 cents per share.

Starbucks shares dipped 12.1% to $77.79 in pre-market trading.

Here are some big stocks recording losses in today's pre-market trading session.

CVRx Inc (NASDAQ:CVRX) shares dipped 29.1% to $11.00 in pre-market trading after the company reported worse-than-expected first-quarter financial results.
Leggett & Platt, Incorporated (NYSE:LEG) tumbled 12.8% to $15.75 in pre-market trading after the company posted weaker-than-expected results for its first quarter.
Skyworks Solutions, Inc. (NASDAQ:SWKS) shares declined 12.7% to $93.00 in pre-market trading after the company reported second-quarter financial results and issued third-quarter revenue guidance with the midpoint below estimates.
Super Micro Computer, Inc. (NASDAQ:SMCI) shares fell 9% to $781.50 in pre-market trading following mixed third-quarter financial results.
Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares declined 6.5% to $1.30 in pre-market trading. Polestar delayed annual report due to accounting errors.
Advanced Micro Devices, Inc. (NASDAQ:AMD) shares fell 6.1% to $148.68 in pre-market trading as the company reported first-quarter results and issued revenue guidance for the second quarter.
Hut 8 Corp. (NASDAQ:HUT) fell 5.8% to $7.40 in pre-market trading. Hut 8 is expected to review first quarter results on Wednesday May 15.
Astera Labs, Inc. (NASDAQ:ALAB) shares declined 5.2% to $80.35 in pre-market trading.
Bloom Energy Corporation (NYSE:BE) shares fell 3.1% to $10.78 in pre-market trading.