Ericsson Posts Weak Results, Joins East West Bancorp And Other Big Stocks Moving Lower In Friday's Pre-Market Session

U.S. stock futures were slightly lower this morning, with the Nasdaq futures falling around 0.1% on Friday.

Shares of Telefonaktiebolaget LM Ericsson ERIC fell sharply in today's pre-market trading after the company reported fourth-quarter fiscal 2024 results on Friday.

The Swedish telecom equipment maker's sales grew 1% year-over-year to 72.9 billion Swedish Krona, driven by 54% growth in the North American market. In USD, sales of $6.77 billion missed the analyst consensus estimate of $6.93 billion. Ericsson reported an EPS of SEK 1.44 versus SEK 1.02 Y/Y. In USD, EPS of $0.13 missed the analyst consensus estimate of $0.19.

Ericsson shares tumbled 8.7% to $8.13 in the pre-market trading session.

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

  • Mineralys Therapeutics, Inc. MLYS shares dipped 29.8% to $7.20 in pre-market trading.
  • First Financial Bancorp. FFBC declined 13.8% to $24.11 in pre-market trading after the company reported fourth-quarter results.
  • Valens Semiconductor Ltd. VLN fell 12% to $2.58 in pre-market trading after declining 3% on Thursday.
  • Acacia Research Corporation ACTG fell 11.7% to $3.86 in today's pre-market trading.
  • Semler Scientific, Inc. SMLR shares dipped 10.9% to $54.49 in pre-market trading  after the company provided preliminary fourth-quarter guidance and proposed a $75 million private offering of convertible senior notes due 2030.
  • The Manitowoc Company, Inc. MTW shares tumbled 10.2% to $8.95 in pre-market trading.
  • Arcus Biosciences, Inc. RCUS shares fell 9.9% to $12.01 in pre-market trading.
  • East West Bancorp, Inc. EWBC shares declined 6.6% to $96.64 in pre-market trading after the company reported worse-than-expected Q4 earnings results.

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Got Questions? Ask
Which telecom stocks could benefit from Ericsson's struggles?
How might North American growth impact competitors?
Will semiconductor companies face risks from Valens Semiconductor decline?
Which financial firms are affected by East West Bancorp's earnings miss?
Could investors find value in declining tech stocks now?
How will Acacia Research's drop affect research firms?
Are there opportunities in healthcare stocks after Mineralys Therapeutics' fall?
Will Manitowoc's decline open doors for construction equipment investments?
Which biotech firms might be undervalued after Arcus Biosciences drop?
How does Semler Scientific's offering impact health tech valuations?
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