ChargePoint Holdings Reports Preliminary Q3 Results, Joins Applied Materials, Alibaba And Other Big Stocks Moving Lower In Friday’s Pre-Market Session - Applied Mat (NASDAQ:AMAT), ReAlpha Tech (NASDAQ:AIRE)

U.S. stock futures traded mostly higher this morning on Friday, with the Dow Jones futures gaining around 50 points this morning.

Shares of ChargePoint Holdings, Inc. CHPT shares tumbled in pre-market trading after the company reported preliminary results and announced a management transition.

ChargePoint said it sees third-quarter revenue of $108 million to $113 million versus previous expectations of $150 million to $165 million, according to data from Benzinga Pro. The company said it expects to take a non-cash impairment charge of $42 million resulting in GAAP gross margin of negative 21% to negative 23%.

The company appointed Rick Wilmer, who has been COO since July 2022, as its new president and CEO, effective Nov. 16.
ChargePoint shares dipped 24.3% to $2.37 in pre-market trading.

Here are some other big stocks recording losses in today’s pre-market trading session.

Alpha Technology Group Limited ATGL shares declined 17.2% to $24.69 in pre-market trading after jumping 136% on Thursday.
Applied Materials, Inc. AMAT shares fell 7.3% to $143.49 in pre-market trading after the company reported fourth-quarter financial results.
reAlpha Tech Corp. AIRE fell 5.6% to $11.42 in pre-market trading.
ZTO Express (Cayman) Inc. ZTO shares declined 4.8% to $22.89 in pre-market trading following third-quarter results.
Alibaba Group Holding Limited BABA shares fell 4.1% to $75.84 in pre-market trading. Alibaba shares fell over 9% on Thursday after the company reported second-quarter financial results.
JD.com, Inc. JD fell around 3% to $27.26 in pre-market trading. JD.com recently reported mixed third-quarter financial results.
Baidu, Inc. BIDU fell 2.6% to $106.41 in pre-market trading following a 3% decline on Thursday.