Intuit Issues Weak Forecast, Joins Reddit And Other Big Stocks Moving Lower In Friday's Pre-Market Session

U.S. stock futures were lower this morning, with the Dow futures falling more than 100 points on Friday's.

Shares of Intuit Inc. INTU fell sharply in today's pre-market trading. Intuit reported upbeat results for its first-quarter results, but issued weak forecast for the current quarter.

The company reported quarterly earnings of $2.50 per share, which beat the analyst consensus estimate of $2.35 per share. Quarterly revenue came in at $3.28 billion which beat the consensus estimate of $3.14 billion.

Intuit said it sees second-quarter adjusted earnings of $2.55 to $2.61 per share, versus market estimates of $3.25 per share. The company expects revenue of $3.812 billion to $3.845 billion versus estimates of $3.88 billion.

Intuit shares dipped 5.7% to $639.95 in the pre-market trading session.

Here are some other stocks moving lower in pre-market trading.

AirSculpt Technologies, Inc. AIRS shares dipped 11.5% to $6.00 in pre-market trading.
Carter Bankshares, Inc. CARE shares fell 10.6% to $16.86 in pre-market trading.
Reddit, Inc. RDDT fell 7.3% to $146.50 in pre-market trading. Reddit's shareholder, Advance Magazine Publishers Inc. plans to sell as much as $1.2 billion of the company's stake, reported Bloomberg on Friday morning. The company is said to be offering 7.8 million shares in between the range of $145.38-$148.54 each.
Evotec SE EVO fell 5.2% to $5.07 in pre-market trading
XPeng Inc. XPEV fell 5.1% to $11.66 in pre-market trading.
Central Pacific Financial Corp. CPF fell 3.6% to $30.25 in pre-market trading.
Materion Corporation MTRN fell 2.6% to $110.00 in pre-market trading