Coherent, Mercury Systems, Canoo And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

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

• Sacks Parente Golf, Inc. SPGC shares tumbled 27.9% to $20.90 in pre-market trading after jumping 624% on Tuesday. Sacks Parente Golf announced pricing of $12.8 million initial public offering of 3.2 million common shares at $4 per share.
• Coherent Corp. COHR shares declined 21.9% to $36.74 in pre-market trading after the company posted fourth-quarter results.
• VinFast Auto Ltd. VFS shares fell 11.9% to $32.64 in pre-market trading after jumping 68% on Tuesday. The company recently completed its SPAC merger with Black Spade Acquisition Company, marking its debut on the Nasdaq stock market.
• Tower Semiconductor Ltd. TSEM dipped 11.8% to $29.80 in pre-market trading. Tower Semiconductor and Intel mutually agreed to terminate merger deal pending regulatory approval.
• Mercury Systems, Inc. MRCY shares declined 10.2% to $30.39 in pre-market trading after the company reported weaker-than-expected fourth-quarter financial results and issued weak FY24 forecast. The company also named Bill Ballhaus as President and CEO, effective immediately.
• TMC the metals company Inc. TMC shares fell 5.5% to $1.37 in pre-market trading.
• Canoo Inc. GOEV fell 5% to $0.4601 in pre-market trading on the heels of the company's second-quarter results.
• NIO Inc. NIO fell 4% to $11.36 in pre-market trading. NIO is expected to report its second quarter 2023 unaudited financial results on Aug. 29, 2023.

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