U.S. stock futures were lower this morning, with the Nasdaq futures falling around 0.89% on Thursday following tech sector profit-taking and disappointing corporate guidance from major apparel and infrastructure giants.



Shares of ADC Therapeutics SA (NYSE:ADCT) plummeted in pre-market trading due to trial safety concerns.



The massive sell-off came after the top-line data from its Phase 3 LOTIS-5 trial, which evaluates a combination regimen of its FDA-approved lymphoma therapy, Zynlonta.



Zynlonta is an antibody-drug conjugate is sold under an accelerated FDA approval pathway, making positive confirmatory data mandatory for it to stay on the U.S. market. Though the Swiss biotech stated that the trial successfully hit its primary progression-free survival endpoint with statistical significance in heavily pre-treated r/r DLBCL patients, underlying trial details triggered the sell-off.



ADC Therapeutics shares dipped 50.67% to $1.52 in pre-market trading.



Here are some other stocks moving lower in pre-market trading:



<ul>
<li>Julong Holding (NASDAQ:JLHL) shares tumbled 36.65% to $21.82 in pre-market trading after announcing the pricing of an upsized $150 million public offering of common stock at a steep discount to its previous close.</li>



<li>Apartment Investment and Management Company (NYSE:AIV) declined 28.98% to $3.04 in pre-market trading following a downbeat operational update and a downgrade from Buy to Hold at a major Wall Street brokerage citing slowing multi-family rent growth.</li>



<li>PVH Corp (NYSE:PVH) plummeted 22.10% to $76.35 in pre-market trading after reporting a first-quarter revenue miss and lowering its full-year sales guidance significantly below analyst consensus due to weak consumer discretionary spending trends in Europe and Asia.</li>



<li>Netskope Inc (NASDAQ:NTSK) plunged 19.04% to $10.04 in pre-market trading after reporting mixed quarterly results and a conservative billings forecast that fell short of premium cybersecurity sector growth expectations.</li>



<li>Air Global PLC(NASDAQ:AIIR) slipped 15.95% to $5.80 in pre-market trading on Thursday.</li>



<li>Broadcom Inc (NASDAQ:AVGO) declined 14.87% to $407.99 in pre-market trading after a prominent Wall Street analyst team issued a cautious note flagging potential short-term delivery bottlenecks and capacity constraints for custom AI ASIC processors through the latter half of the fiscal year.</li>



<li>3D Systems Corp (NYSE:DDD) fell 14.69% to $3.08 in pre-market trading after reporting wider-than-expected first-quarter losses and announcing a restructuring plan that includes a 10% workforce reduction.</li>



<li>Boost Run Inc (NASDAQ:BRUN) declined 13.36% to $33.01 in pre-market trading on Thursday. </li>
</ul>

ADCT

JLHL

NTSK

U.S. stock futures fell in pre-market trading due to tech profit-taking and weak guidance. ADC Therapeutics shares plunged 50.67% after trial safety concerns, while Julong Holding dropped 36.65% following a discounted public offering. Other decliners included Apartment Investment (downgraded), PVH Corp (missed revenue/guidance), Netskope (conservative forecast), Broadcom (delivery bottlenecks), and 3D Systems (wider losses/restructuring).

benzinga_article

Apartment Investment

ADC Therapeutics SA

Julong

Netskope

Broadcom

ADC Therapeutics Posts Downbeat Q1 Earnings, Joins Julong Holding And Other Big Stocks Moving Lower In Thursday's Pre-Market Session