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GameStop Posts Downbeat Results, Joins Direct Digital, Forge Global And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

Published 27/03/2024, 09:39
© Reuters. GameStop Posts Downbeat Results, Joins Direct Digital, Forge Global And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session
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Benzinga - by Avi Kapoor, Benzinga Staff Writer.

U.S. stock futures were higher this morning, with the Dow futures gaining by more than 100 points on Wednesday.

Shares of GameStop Corp. (NYSE: GME) fell sharply in today’s pre-market trading as the company posted weaker-than-expected results for its fourth quarter on Tuesday.

GameStop reported fourth-quarter net sales of $1.794 billion, down from $2.226 billion year-over-year. The net sales total missed a Street consensus estimate of $2.05 billion, according to data from Benzinga Pro. The company reported earnings per share of 22 cents for the fourth quarter, missing a Street estimate of 29 cents per share.

GameStop shares dipped 14.9% to $13.19 in pre-market trading.

Here are some big stocks recording losses in today’s pre-market trading session.

  • Direct Digital Holdings, Inc. (NASDAQ: DRCT) shares tumbled 39.8% to $15.95 in pre-market trading after the company reported worse-than-expected fourth-quarter financial results.
  • Forge Global Holdings, Inc. (NYSE: FRGE) dipped 12.4% to $2.32 in pre-market trading after the company reported worse-than-expected fourth-quarter financial results.
  • Mesoblast Limited (NASDAQ: MESO) shares fell 12.1% to $3.45 in pre-market trading. Mesoblast shares jumped over 78% on Tuesday after the FDA informed the company that the available clinical data from its Phase 3 study MSB-GVHD001 appears sufficient to support submission of the proposed Biologics License Application for remestemcel-L for treatment of pediatric patients with steroid-refractory acute graft versus host disease.
  • Ero Copper Corp. (NYSE: ERO) shares declined 8.3% to $17.02 in pre-market trading. On March 7, Ero Copper posted downbeat quarterly earnings.
  • Waterdrop Inc. (NYSE: WDH) shares fell 7% to $1.20 in pre-market trading. Waterdrop declared a special cash dividend, the aggregate payment of which amounted to approximately US$15 million.
  • Cenovus Energy Inc. (NYSE: CVE) shares declined 5.7% to $18.74.
  • XPeng Inc. (NYSE: XPEV) shares fell 4.5% to $8.16 in pre-market trading.
  • BrightSpire Capital, Inc. (NYSE: BRSP) fell 4.1% to $6.40 in pre-market trading.
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Now Read This: Carnival, GameStop And 3 Stocks To Watch Heading Into Wednesday

Don’t forget to check out our premarket coverage here

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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