Qualcomm, PayPal, Etsy And Other Big Stocks Moving Lower In Thursday's Pre-Market Session

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

• American Superconductor Corporation AMSC shares tumbled 21% to $9.05 in pre-market trading after dipping 29% on Wednesday. AMSC is projected to release its first quarter fiscal year 2023 financial results on Aug. 9, 2023.
• DXC Technology Company DXC shares dipped 19.4% to $21.80 in pre-market trading after the company reported worse-than-expected first-quarter results and issued a below-consensus outlook.
• Schrödinger, Inc. SDGR shares declined 17.3% to $41.53 in pre-market trading after posting a wider-than-expected quarterly loss.
• STAAR Surgical Company STAA shares fell 14.7% to $44.60 in pre-market trading following second-quarter results.
• The Cheesecake Factory Incorporated CAKE shares declined 12.1% to $32.11 in pre-market trading following weaker-than-expected quarterly sales.
• QuantumScape Corporation QS shares fell 10.8% to $9.91 in pre-market trading after the company announced a $300 million proposed public offering.
• American Well Corporation AMWL shares declined 10.4% to $1.99 in pre-market trading following downbeat second-quarter results.
• QUALCOMM Incorporated QCOM shares fell 8.7% to $118.06 in pre-market trading. Qualcomm reported better-than-expected earnings for its third quarter, while sales missed estimates. Deutsche Bank downgraded Qualcomm from Buy to Hold.
• PayPal Holdings, Inc. PYPL shares declined 8.3% to $67.10 in pre-market trading. PayPal reported upbeat earnings and sales results for its second quarter, but saw a sequential decline in active accounts.
• Kimbell Royalty Partners, LP KRP shares fell 8.1% to $14.25 in pre-market trading as the company announced pricing of $101.5 million upsized public offering of 7.25 million common units at a price of $14 per unit.
• Etsy, Inc. ETSY shares fell 7.7% to $88.66 in pre-market trading following second-quarter results. Bernstein downgraded Etsy from Outperform to Market Perform.
• Robinhood Markets, Inc. HOOD shares fell 6.6% to $11.62 in pre-market trading following second-quarter results.
• MGM Resorts International MGM shares declined 6.6% to $45.99 in pre-market trading following quarterly results.

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