IBM, SAP And Other Big Stocks Moving Lower In Thursday's Pre-Market Session

U.S. stock futures traded mostly higher this morning. Here are some big stocks recording losses in today’s pre-market trading session.

• Wolfspeed, Inc. WOLF shares dropped 8.4% to $75.05 in pre-market trading after the company reported worse-than-expected Q2 sales and issued soft guidance.
• Millicom International Cellular S.A. TIGO shares declined 6.5% to $17.06 in pre-market trading. Millicom shares jumped 23% on Wednesday following a report suggesting Apollo and Marcelo Claure are exploring a buyout of the company.
• Diageo plc DEO shares dropped 6.5% to $172.32 in pre-market trading after the company reported first-half results.
• LendingClub Corporation LC shares fell 5.7% to $9.75 in pre-market trading following strong Q4 sales.

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• SAP SE SAP shares dropped 4.1% to $111.40 in pre-market trading. SAP reported fourth-quarter FY22 revenue growth of 1% year-on-year to €8.44 billion at constant currencies.
• Alvarium Tiedemann Holdings, Inc. ALTI shares dropped 3.6% to $14.84 in pre-market trading after jumping 65% on Wednesday.
• International Business Machines Corporation IBM dropped 2.1% to $137.90 in pre-market trading. IBM reported better-than-expected sales for its fourth quarter on Wednesday. The company plans to reduce around 3,900 jobs that represent 1.5% of its global workforce, reported Bloomberg.

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