Progress Software, Disc Medicine And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

U.S. stock futures were higher this morning, with the Nasdaq futures gaining over 150 points on Wednesday.

Shares of Progress Software Corporation PRGS fell sharply in today's pre-market trading after the company issued first-quarter EPS guidance below estimates.

Progress Software reported quarterly earnings of $1.33 per share which beat the analyst consensus estimate of $1.22 per share. The company reported quarterly sales of $215.00 million which beat the analyst consensus estimate of $211.25 million.

Progress Software said it sees first-quarter revenue of $232 million to $238 million versus market estimates of $235.840 million. The company projects adjusted earnings of $1.02 to $1.08 per share, versus expectations of $1.25 per share.

Progress Software shares declined 2.6% to $61.90 in the pre-market trading session.

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

Associated Capital Group, Inc. AC fell 43.7% to $20.00 in pre-market trading. Associated Capital recently reported estimated fourth quarter and full year results
Septerna, Inc. SEPN fell 14.4% to $16.01 in pre-market trading after gaining more than 10% on Tuesday.
AnaptysBio, Inc. ANAB declined 12.3% to $14.81 in pre-market trading after gaining over 6% on Tuesday.
Marine Products Corporation MPX dipped 11.3% to $8.04 in pre-market trading. Marine Products will release its financial results for the fourth quarter on Thursday, Jan. 30, before the market opens.
Zenas BioPharma, Inc. ZBIO shares fell 8.2% to $7.71 in pre-market trading.
GH Research PLC GHRS dipped 7.7% to $8.30 in pre-market trading.
Dogness (International) Corporation DOGZ fell 4.5% to $27.47 in pre-market trading.
Disc Medicine, Inc. IRON fell 2.7% to $58.88 in pre-market trading as the company announced a proposed $200 million public offering of common stock and pre-funded warrants.