U.S. stock futures were higher this morning, with the Nasdaq 100 futures gaining more than 200 points on Wednesday.
Shares of Qorvo, Inc. (NASDAQ:QRVO) fell sharply in pre-market trading after the company reported third-quarter financial results and issued fourth-quarter sales guidance below estimates.
Qorvo shares expects fiscal fourth-quarter revenue to be in the range of $775 million to $825 million versus estimates of $904.59 million. The company anticipates adjusted earnings of $1.05 to $1.35 per share in the fourth quarter versus estimates of $1.37 per share.
Qorvo shares dipped 10.5% to $74.11 in pre-market trading.
Here are some other stocks moving lower in pre-market trading.
- Virtuix Holdings Inc. (NASDAQ:VTIX) shares dipped 22.1% to $18.99 in pre-market trading after jumping 22 on Tuesday.
- Altimmune, Inc. (NASDAQ:ALT) fell 15.8% to $5.20 in pre-market trading after the company announced pricing of $75 million registered direct offering of common stock.
- Elevra Lithium Limited (NASDAQ:ELVR) declined 10.8% to $56.50 in pre-market trading. Elevra Lithium reported December quarter revenue of $66 million.
- United Microelectronics Corporation (NYSE:UMC) shares dipped 9.9% to $11.26 in pre-market trading after reporting fourth-quarter results.
- Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (NYSE:TLK) fell 9.6% to $21.19 in pre-market trading.
- Skyworks Solutions, Inc. (NASDAQ:SWKS) dipped 9.2% to $54.50 in pre-market trading.
- Elevance Health, Inc. (NYSE:ELV) declined 6.7% to $301.29 in pre-market trading following weak quarterly sales.
- StandardAero, Inc. (NYSE:SARO) dipped 6.4% to $30.98 in pre-market trading after the company reported preliminary FY25 revenue and filed a prospectus to sell 187,137,524 shares. Also, the company announced an offering of 50 million shares.
- MSCI Inc. (NYSE:MSCI) fell 3.6% to $560.22 in pre-market trading.
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