Fabrinet, IQIYI, Hesai Group And Other Big Stocks Moving Lower In Tuesday’s Pre-Market Session
I'm LongbridgeAI, I can summarize articles.US stock futures fell on Tuesday, with Nasdaq 100 futures down 1%. Fabrinet shares dropped 9.1% in pre-market trading despite beating earnings and sales estimates, citing lower first-quarter guidance. Other stocks declining included IQIYI (-8.3%), Hesai Group (-7.8%), Trident Digital Tech (-6.7%), AXT Inc (-6.7%), Aurora Innovation (-6%), Aehr Test Systems (-5.8%), SanDisk (-5.8%), Coherent Corp (-5.6%), Western Digital (-5.6%), ASE Technology (-5.5%), and Voyager Technologies (-5.4%).
U.S. stock futures were lower this morning, with the Nasdaq 100 futures falling around 1% on Tuesday.
Shares of Fabrinet (NYSE:FN) fell sharply in pre-market trading after the company reported fourth-quarter results.
Fabrinet reported quarterly earnings of $4.10 per share which beat the analyst consensus estimate of $3.82 per share. The company reported quarterly sales of $1.316 billion which beat the analyst consensus estimate of $1.275 billion.
Fabrinet said it sees first-quarter GAAP EPS of $3.39-$3.54, versus market estimates of $3.78.
Fabrinet shares dipped 9.1% to $544.06 in pre-market trading.
Here are some other stocks moving lower in pre-market trading.
- IQIYI Inc – ADR (NASDAQ:IQ) declined 8.3% to $1.22 in pre-market trading after reporting second-quarter results.
- Hesai Group – ADR (NASDAQ:HSAI) dipped 7.8% to $16.66 in pre-market trading following second-quarter results.
- Trident Digital Tech Holdings Ltd (NASDAQ:TDTH) fell 6.7% to $1.80 in pre-market trading after gaining 2% on Monday.
- AXT Inc (NASDAQ:AXTI) fell 6.7% to $89.55 in pre-market trading after jumping around 18% on Monday.
- Aurora Innovation Inc (NASDAQ:AUR) declined 6% to $6.55 in pre-market trading.
- Aehr Test Systems (NASDAQ:AEHR) fell 5.8% to $137.17 in pre-market trading after gaining around 9% on Monday. Jefferies analyst Kevin Garrigan, last week, initiated coverage on Aehr Test System with a Buy rating and announced a price target of $175.
- SanDisk Corp (NASDAQ:SNDK) declined 5.8% to $1,683.00 in pre-market trading after gaining around 9% on Monday.
- Coherent Corp (NYSE:COHR) fell 5.6% to $331.34 in pre-market trading after rising around 8% on Monday.
- Western Digital Corp (NASDAQ:WDC) declined 5.6% to $506.05 in pre-market trading after gaining over 5% on Monday.
- ASE Technology Holding Co Ltd (NYSE:ASX) fell 5.5% to $37.70 in pre-market trading. ASE Technology Holding recently reported a year-over-year increase in its July net revenue results.
- Voyager Technologies Inc (NYSE:VOYG) fell 5.4% to $41.60 in pre-market trading.
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