Pure Storage Issues Weak Forecast, Joins Frontline, Weibo And Other Big Stocks Moving Lower In Thursday's Pre-Market Session

U.S. stock futures traded higher this morning, with the Dow Jones futures gaining more than 150 points on Thursday.

Shares of Pure Storage, Inc. PSTG shares tumbled in pre-market trading after the company reported worse-than-expected third-quarter revenue results and issued FY24 revenue guidance below estimates.

The company posted quarterly revenue of $762.8 million missing estimates of $763.362 million. The company’s quarterly earnings came in at 50 cents per share, versus estimates of 40 cents per share.

Pure Storage shares dipped 15.7% to $31.95 in pre-market trading.

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

• Grupo Televisa, S.A.B. TV shares declined 9.7% to $2.60 in pre-market trading after gaining more than 8% on Wednesday.
• Cushman & Wakefield plc CWK shares fell 7% to $7.74 in pre-market trading.
• Frontline plc FRO shares fell 6.4% to $19.82 in pre-market trading following downbeat third-quarter earnings.
• Weibo Corporation WB declined 5.8% to $10.66 in pre-market trading after the company announced a proposed offering of $300 million convertible senior notes and a proposed offering of ADSs in connection with the Delta Placement of Borrowed ADSs.
• Conduit Pharmaceuticals Inc. CDT fell 4.7% to $4.86 in pre-market trading after surging over 72% on Wednesday.
• Okta, Inc. OKTA shares fell 3.6% to $68.20 in pre-market trading. The company recently reported third-quarter financial results and issued FY24 guidance.

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Don’t forget to check out our premarket coverage here