Coty Posts Mixed Q4 Results, Joins Wolfspeed, ATRenew And Other Big Stocks Moving Lower In Thursday’s Pre-Market Session
I'm LongbridgeAI, I can summarize articles.Coty Inc shares fell 7.7% in pre-market trading after reporting mixed Q4 results, including a $0.02 per share loss that missed estimates, despite revenue beating forecasts. The company also announced the exit of its Gucci Beauty license, which will impact future sales and profits. Coty's decline was part of a broader session where stocks like Wolfspeed, Moderna, and ATRenew also moved lower following their respective earnings reports or guidance updates.
U.S. stock futures were mixed this morning, with the Nasdaq 100 futures gaining around 0.1% on Thursday.
Shares of Coty Inc (NYSE:COTY) fell sharply in pre-market trading after the company reported mixed fourth-quarter financial results and issued first-quarter adjusted EPS guidance below estimates.
Coty reported quarterly losses of two cents per share, which missed the consensus estimate for a loss of one cent, according to Benzinga Pro data. Quarterly revenue of $1.27 billion beat the Street estimate of $1.19 billion by 6.25%.
The company disclosed that the Gucci Beauty license exit will result in a step-down in FY28 sales and profit.
Coty shares dipped 7.7% to $2.80 in pre-market trading.
Here are some other stocks moving lower in pre-market trading.
- Moderna Inc (NASDAQ:MRNA) shares dipped 12.4% to $153.01 in pre-market trading. Moderna shares jumped 177% on Wednesday after the company and Merck announced topline results from the Phase 3 INTerpath-001 trial met its primary and a key secondary endpoint.
- Wolfspeed Inc (NYSE:WOLF) declined 12% to $25.60 in pre-market trading after the company reported mixed fourth-quarter financial results.
- ATRenew Inc (NASDAQ:RERE) fell 7.2% to $4.26 in pre-market trading after the company posted second-quarter results and issued weak third-quarter sales forecast.
- Agenus Inc (NASDAQ:AGEN) dipped 6.5% to $7.72 in pre-market trading after gaining around 10% on Wednesday.
- Re/Max Holdings Inc (NYSE:RMAX) fell 6.3% to $13.50 in pre-market trading after gaining over 5% on Wednesday.
- LegalZoom.com Inc (NASDAQ:LZ) dipped 6% to $5.51 in pre-market trading following a 3% gain in the previous session.
- Senseonics Holdings Inc (NASDAQ:SENS) declined 5.6% to $8.60 in pre-market trading after gaining around 5% on Wednesday.
- Kingsoft Cloud Holdings Ltd (NASDAQ:KC) dropped 5.4% to $11.70 in pre-market trading. Kingsoft Cloud shares gained 14% on Wednesday after the company reported better-than-expected Q2 financial results.
- John B Sanfilippo & Son Inc (NASDAQ:JBSS) fell 5.3% to $77.00 in pre-market trading following downbeat quarterly earnings.
- ProQR Therapeutics NV (NASDAQ:PRQR) declined 4.5% to $2.12 in pre-market trading.
- Petco Health and Wellness Company Inc (NASDAQ:WOOF) fell 4.4% to $2.82 in pre-market trading. Petco recently appointed Jeffrey Naylor to its board of directors.
- Hamilton Beach Brands Holding Co (NYSE:HBB) declined 2.3% to $32.94 in pre-market trading.
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