Apple, Fortinet, Microchip Technology And Other Big Stocks Moving Lower In Friday's Pre-Market Session

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

• Assertio Holdings, Inc. ASRT shares fell 43.9% to $3.00 in pre-market trading after the company reported second-quarter results and issued updates related to the acquisition of Spectrum Pharmaceuticals, Inc, which closed effective July 31, 2023.
• DigitalOcean Holdings, Inc. DOCN shares dipped 22.1% to $36.40 in pre-market trading after the company posted downbeat second-quarter sales and issued weak sales outlook.
• Fortinet, Inc. FTNT shares tumbled 18.1% to $62.08 in pre-market trading following weak guidance.
• ContextLogic Inc. WISH shares declined 16.2% to $7.02 in pre-market trading after reporting downbeat quarterly sales.
• TransMedics Group, Inc. TMDX tumbled 12.1% to $77.00 in pre-market after the company reported second-quarter results.
• OUTFRONT Media Inc. OUT shares declined 12.1% to $12.75 in pre-market trading after posting downbeat quarterly results.
• Opendoor Technologies Inc. OPEN shares tumbled 11.1% to $4.27 in pre-market trading after the company issued weak sales forecast for the third quarter.
• Redfin Corporation RDFN shares declined 10% to $12.91 in pre-market trading following weak sales forecast for the current quarter.
• AbCellera Biologics Inc. ABCL shares fell 8.5% to $6.38 in pre-market trading following weak quarterly sales.
• Trinity Capital Inc. TRIN shares declined 7.3% to $14.17 in pre-market trading. Trinity Capital announced pricing of $75 million public offering of shares of common stock at $14.45 per share.
• QuantumScape Corporation QS shares fell 6.1% to $8.27 in pre-market trading as the company reported pricing of $300 million public offering of 37.5 million Class A common stock.
• Palo Alto Networks, Inc. PANW shares fell 6.1% to $222.97 in pre-market trading in sympathy with Fortinet, which fell on weak guidance. Palo Alto Networks is expected to release the financial results for its fiscal fourth quarter on Aug. 18, 2023.
• Microchip Technology Incorporated MCHP shares declined 5.2% to $84.84 in pre-market trading after the company reported first-quarter results.
• Block, Inc. SQ shares fell 4.1% to $70.53 in pre-market trading following second-quarter results.
• Apple Inc. AAPL shares slipped 1.8% to $187.77 in pre-market trading. Apple reported better-than-expected earnings for its third quarter, but saw a decline in iPhone, Mac and iPad revenues.

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