Benzinga - by Avi Kapoor, Benzinga Staff Writer.
U.S. stock futures were lower this morning, with the Nasdaq futures trading lower by around 100 points on Tuesday.
Shares of Arista Networks, Inc. (NYSE: ANET) shares fell in today’s pre-market trading after the company reported fourth-quarter financial results and issued guidance.
Arista said fourth-quarter revenue increased 20.8% year-over-year to $1.54 billion, which beat the consensus estimate of $1.53 billion, according to Benzinga Pro. The company reported quarterly earnings of $2.08 per share, which beat analyst estimates of $1.70 per share.
Arista sees first-quarter revenue in the range of $1.52 billion to $1.56 billion versus estimates of $1.53 billion. The company expects first-quarter adjusted gross margins of approximately 62%.
Arista Networks shares declined 5.7% to $265.00 in pre-market trading.
Here are some big stocks recording losses in today’s pre-market trading session.
- G1 Therapeutics, Inc. (NASDAQ: GTHX) shares dipped 37.5% to $2.80 in pre-market trading. G1 Therapeutics will continue Phase 3 trial of trilaciclib in metastatic triple negative breast cancer following interim analysis by the independent Data Monitoring Committee.
- Teradata Corporation (NYSE: TDC) shares fell 14% to $41.95 in pre-market trading. Teradata reported better-than-expected results for its fourth quarter, but issued weak earnings guidance.
- Lattice Semiconductor Corporation (NASDAQ: LSCC) shares dipped 8.3% to $65.08 in pre-market trading after the company reported mixed fourth-quarter financial results and issued first-quarter revenue guidance below estimates.
- Cadence Design Systems, Inc. (NASDAQ: CDNS) shares fell 6.7% to $286.00 in pre-market trading after the company reported fourth-quarter financial results and issued guidance.
- NaaS Technology Inc. (NASDAQ: NAAS) shares declined 5.4% to $1.59 in pre-market trading after falling 6% on Monday.
- Gates Industrial Corporation plc (NYSE: GTES) shares fell 4.7% to $12.20 in pre-market trading after announcing a secondary offering of 17,500,000 ordinary shares.
- Arm Holdings plc (NASDAQ: ARM) fell 4.6% to $142.18 in pre-market trading after jumping 29% on Monday. The company last week reported better-than-expected third-quarter financial results and issued FY24 adjusted EPS and revenue guidance above estimates.
- The Goodyear Tire & Rubber Company (NASDAQ: GT) fell 2.4% to $13.30 in pre-market trading following fourth-quarter results.
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