February 23, 2024 4:50 AM | 2 min read
The morning bell rang sharply today as U.S. stock futures were in a downward spiral, with the Dow futures trading lower by around 25 points on Friday.
Shares of Ardelyx, Inc. ARDX nosedived in today’s pre-market trading following a mixed bag of fourth-quarter financial results.
Ardelyx reported quarterly losses of 12 cents per share, missing the analyst consensus estimate of 10 cents. On the upside, the company reported quarterly sales of $34.36 million, slightly surpassing the analyst consensus estimate of $34.23 million, according to data from Benzinga Pro.
The market saw Ardelyx shares take a plunge of 13.3% to $7.65 in pre-market trading.
Other big stocks recording losses in today’s pre-market trading session included:
- Shares of Applied Optoelectronics, Inc. AAOI nosedived 38.2% to $12.58 after reporting fourth-quarter results.
- Shares of indie Semiconductor, Inc. INDI declined 15% to $5.86 following weak quarterly sales.
- Shares of ModivCare Inc. MODV took a tumble by 14.2% to $37.64 after the company issued a weak sales forecast for the first quarter.
- Shares of Booking Holdings Inc. BKNG declined by 9.1% to $3,545.61 after the company reported fourth-quarter financial results.
- Shares of MercadoLibre, Inc. MELI fell 8.1% to $1,671.42 after the company reported fourth-quarter financial results.
- Shares of Copart, Inc. CPRT declined by 7.8% to $45.56 after the company reported worse-than-expected second-quarter financial results.
- Shares of AVITA Medical, Inc. RCEL fell 7.8% to $15.69 following weak quarterly sales.
- Shares of Main Street Capital Corporation MAIN declined by 6% to $43.00 after fourth-quarter financial results.
- Shares of Canaan Inc. CAN fell 4.9% to $1.93 in pre-market trading. Canaan is expected to report fourth-quarter financial results on Feb. 27, 2024.
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