VF Corp Posts Weak Q4 Results, Joins NetEase, Cytokinetics And Other Big Stocks Moving Lower In Thursday's Pre-Market Session

Author: Avi Kapoor | May 23, 2024 05:39am

U.S. stock futures were higher this morning, with the Nasdaq futures gaining around 150 points on Thursday.

Shares of V.F. Corporation (NYSE:VFC) fell sharply in today's pre-market trading following worse-than-expected fourth-quarter financial results.

VF Corp. reported quarterly losses of 32 cents per share which missed the analyst consensus estimate of earnings of 1 cent per share. Quarterly sales came in at $2.37 billion which missed the analyst consensus estimate of $2.41 billion, according to data from Benzinga Pro.

The company appointed Paul Vogel as CFO, effective July 8, 2024.

V.F. Corporation shares tumbled 15.2% to $10.46 in pre-market trading.

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

• Cytokinetics, Incorporated (NASDAQ:CYTK) shares dipped 14.7% to $50.55 in pre-market trading. Cytokinetics priced its public offering of 9,803,922 common stock at $51 per share.
• Solowin Holdings (NASDAQ:SWIN) shares fell 8.7% to $36.01 in pre-market trading after gaining around 5% on Wednesday.
• National Grid plc (NYSE:NGG) shares fell 8.3% to $66.05 in pre-market trading.
• Live Nation Entertainment, Inc. (NYSE:LYV) shares declined 6.3% to $95.01 in pre-market trading. The U.S. Department of Justice will announce antitrust action against Live Nation as soon as Thursday, according to Washington Post.
• GLOBALFOUNDRIES Inc. (NASDAQ:GFS) shares fell 6.3% to $51.75 in pre-market trading. GlobalFoundries announced pricing of $950 million secondary offering of ordinary shares, including concurrent $200 million share repurchase.
• Bloom Energy Corporation (NYSE:BE) shares fell 5.8% to $16.00 in pre-market trading after the company announced a private offering of $250 million green convertible senior notes due 2029 to qualified institutional buyers.
• NetEase, Inc. (NASDAQ:NTES) shares fell 4.6% to $93.85 in pre-market trading after the company reported worse-than-expected first-quarter revenue.

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Posted In: BE CYTK GFS LYV NGG NTES SWIN VFC