U.S. stock futures were higher this morning, with the Dow futures gaining around 50 points on Friday.
Shares of Intuit Inc. (NASDAQ:INTU) fell sharply in today's pre-market trading following third-quarter results.
Intuit posted better-than-expected earnings for its third quarter and boosted its full-year outlook. However, the company issued weak earnings guidance for the current quarter.
Intuit's third-quarter revenue increased 12% year-over-year to $6.737 billion, beating the consensus estimate of $6.647 billion. The financial technology platform company reported adjusted earnings of $9.88 per share, beating analyst estimates of $9.37 per share, according to Benzinga Pro.
Intuit shares declined 6.3% to $620.82 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
- Summit Therapeutics Inc. (NASDAQ:SMMT) shares dipped 21.2% to $3.40 in pre-market trading.
- Workday, Inc. (NASDAQ:WDAY) shares fell 12.4% to $228.48 in pre-market trading. Workday posted upbeat earnings for its first quarter. However, the company lowered its forward guidance and now sees second-quarter subscription revenue of $1.895 billion and fiscal-year subscription revenue of between $7.7 billion and $7.725 billion.
- Cognyte Software Ltd. (NASDAQ:CGNT) shares declined 6.9% to $6.94 in pre-market trading.
- Genmab A/S (NASDAQ:GMAB) shares fell 4.5% to $28.01 in pre-market trading.
- NetEase, Inc. (NASDAQ:NTES) shares declined 3.7% to $91.15 in pre-market trading after the company reported worse-than-expected first-quarter revenue.
- Lithium Americas (Argentina) Corp (NYSE:LAAC) shares fell 2.4% to $4.58 in pre-market trading.
- Ryanair Holdings plc (NASDAQ:RYAAY) shares slipped 2.3% to $124.72 in pre-market trading.
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