U.S. stock futures were lower this morning, with the Dow futures falling around 100 points on Friday.
Shares of Micron Technology, Inc. (NASDAQ:MU) fell sharply in today's pre-market trading following second-quarter results.
Micron reported second-quarter revenue of $8.05 billion, beating the consensus estimate of $7.89 billion. Total revenue was up from $5.82 billion on a year-over-year basis. The company reported second-quarter adjusted earnings of $1.56 per share, beating analyst estimates of $1.42 per share, according to Benzinga Pro.
Micron expects third-quarter revenue of $8.8 billion, plus or minus $200 million, versus estimates of $8.49 billion. The company anticipates third-quarter adjusted earnings of $1.57 per share, plus or minus 10 cents per share, versus estimates of $1.47 per share.
Micron shares fell 2.6% to $100.28 in the pre-market trading session.
Here are some other stocks moving lower in pre-market trading.
- InnovAge Holding Corp. (NASDAQ:INNV) shares dipped 20% to $2.60 in pre-market trading.
- MAC Copper Limited (NYSE:MTAL) fell 14.8% to $9.15 in pre-market trading.
- Riverview Bancorp, Inc. (NASDAQ:RVSB) shares fell 11% to $4.80 in pre-market trading.
- Benitec Biopharma Inc. (NASDAQ:BNTC) fell 10.4% to $15.01 in today's pre-market trading. Benitec Biopharma recently reported interim clinical results for three subjects treated with BB-301 in Phase 1b/2a study.
- Satellogic Inc. (NASDAQ:SATL) fell 9.7% to $3.61 in pre-market trading.
- Planet Labs PBC (NYSE:PL) declined 8.5% to $3.88 in pre-market trading following weak fourth-quarter results.
- FedEx Corporation (NYSE:FDX) shares dipped 7.7% to $227.30 in pre-market trading. FedEx posted weaker-than-expected earnings for its third quarter, while sales topped estimates. The company also said it now sees fiscal 2025 revenue flat to slightly down year-over-year, compared to the prior forecast of approximately flat.
- NIO Inc. (NYSE:NIO) fell 6% to $4.43 in pre-market trading following weak quarterly results.
- NIKE, Inc. (NYSE:NKE) fell 5.6% to $67.84 in pre-market trading. Nike reported better-than-expected third-quarter financial results. The athletic footwear and apparel company reported third-quarter revenue of $11.27 billion, beating analyst estimates of $11.01 billion.
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