Akamai Technologies Issues Weak Outlook, Joins Applied Optoelectronics, JFrog And Other Big Stocks Moving Lower In Friday's Pre-Market Session

Author: Avi Kapoor | May 10, 2024 05:45am

U.S. stock futures were higher this morning, with the Dow futures gaining around 100 points on Friday.

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) fell sharply in today's pre-market trading after the company issued weak guidance.

The company said it sees FY24 adjusted EPS of $6.20 to $6.40 compared to market estimates of $6.73. It expects revenue of $3.95 billion to $4.02 billion, versus expectations of $4.08 billion, according to data from Benzinga Pro.

Akamai Technologies shares dipped 10.4% to $91.73 in pre-market trading.

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

MacroGenics, Inc. (NASDAQ:MGNX) shares tumbled 64.5% to $5.20 in pre-market trading after the company reported worse-than-expected first-quarter financial results.
Progyny, Inc. (NASDAQ:PGNY) shares declined 36% to $20.80 pre-market trading after the company reported worse-than-expected first-quarter sales results and issued FY24 sales guidance below estimates.
MicroVision, Inc. (NASDAQ:MVIS) shares declined 27.2% to $1.18 in pre-market trading after the company reported worse-than-expected first-quarter GAAP EPS results.
Applied Optoelectronics, Inc. (NASDAQ:AAOI) shares declined 16.4% to $8.79 in pre-market trading after the company issued weak second-quarter guidance.
JFrog Ltd. (NASDAQ:FROG) shares dipped 13.4% to $35.10 in pre-market trading after the company reported first quarter financial results.
Navitas Semiconductor Corporation (NASDAQ:NVTS) shares fell 10.4% to $4.20 in pre-market trading after the company reported worse-than-expected first-quarter adjusted EPS results.
Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) shares fell 10.4% to $0.8243 in pre-market trading after the company reported worse-than-expected first-quarter sales results.
indie Semiconductor, Inc. (NASDAQ:INDI) shares dipped 9.2% to $5.26 in pre-market trading following weak quarterly results.
Yelp Inc. (NYSE:YELP) shares declined 7.1% to $36.80 pre-market trading after the company reported a first-quarter revenue miss.
Runway Growth Finance Corp. (NASDAQ:RWAY) shares fell 6.1% to $11.37 in pre-market trading as the company priced its secondary offering of 3.75 million common stock by selling stockholder at $11.50 per share.