AVITA Medical Cuts Revenue Forecast, Joins iQIYI, Trip.com And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

U.S. stock futures traded mostly lower this morning, with the Dow Jones futures falling around 50 points on Tuesday.

Shares of AVITA Medical, Inc. RCEL shares dipped in pre-market trading after the company cut its FY23 revenue guidance.

AVITA Medical revised its FY23 revenue guidance from $51 million-$53 million to $49.5 million-$50.5 million, according to data from Benzinga Pro.

AVITA Medical shares fell 10.9% to $11.17 in pre-market trading

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

• Sibanye Stillwater Limited SBSW shares tumbled 24.2% to $3.94 in pre-market trading.
• MorphoSys AG MOR shares dipped 23.4% to $4.49 in pre-market trading. The company’s Phase 3 study of pelabresib in myelofibrosis demonstrated statistically significant improvement in spleen volume reduction and strong positive trend in symptom reduction.
• reAlpha Tech Corp. AIRE fell 8.2% to $6.60 in pre-market trading after declining around 23% on Monday. The company recently filed a prospectus for the offering of up to 1.67 million common units at a price of $12 per unit.
• Vertex Energy, Inc. VTNR shares fell 4.7% to $3.66 in pre-market trading.
• iQIYI, Inc. IQ shares declined 4.4% to $5.00 in pre-market trading following third-quarter results.
• Burford Capital Limited BUR fell 3.4% to $13.74 in pre-market trading.
• Trip.com Group Limited TCOM fell 3.2% to $35.50 in pre-market trading after reporting third-quarter results.

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