Arista Networks Reports Q4 Results, Joins Teradata, Lattice Semiconductor And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

U.S. stock futures were lower this morning, with the Nasdaq futures trading lower by around 100 points on Tuesday.

Shares of Arista Networks, Inc. ANET shares fell in today’s pre-market trading after the company reported fourth-quarter financial results and issued guidance.

Arista said fourth-quarter revenue increased 20.8% year-over-year to $1.54 billion, which beat the consensus estimate of $1.53 billion, according to Benzinga Pro. The company reported quarterly earnings of $2.08 per share, which beat analyst estimates of $1.70 per share.

Arista sees first-quarter revenue in the range of $1.52 billion to $1.56 billion versus estimates of $1.53 billion. The company expects first-quarter adjusted gross margins of approximately 62%.

Arista Networks shares declined 5.7% to $265.00 in pre-market trading.

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

• G1 Therapeutics, Inc. GTHX shares dipped 37.5% to $2.80 in pre-market trading. G1 Therapeutics will continue Phase 3 trial of trilaciclib in metastatic triple negative breast cancer following interim analysis by the independent Data Monitoring Committee.
• Teradata Corporation TDC shares fell 14% to $41.95 in pre-market trading. Teradata reported better-than-expected results for its fourth quarter, but issued weak earnings guidance.
• Lattice Semiconductor Corporation LSCC shares dipped 8.3% to $65.08 in pre-market trading after the company reported mixed fourth-quarter financial results and issued first-quarter revenue guidance below estimates.
• Cadence Design Systems, Inc. CDNS shares fell 6.7% to $286.00 in pre-market trading after the company reported fourth-quarter financial results and issued guidance.
• NaaS Technology Inc. NAAS shares declined 5.4% to $1.59 in pre-market trading after falling 6% on Monday.
• Gates Industrial Corporation plc GTES shares fell 4.7% to $12.20 in pre-market trading after announcing a secondary offering of 17,500,000 ordinary shares.
• Arm Holdings plc ARM fell 4.6% to $142.18 in pre-market trading after jumping 29% on Monday. The company last week reported better-than-expected third-quarter financial results and issued FY24 adjusted EPS and revenue guidance above estimates.
• The Goodyear Tire & Rubber Company GT fell 2.4% to $13.30 in pre-market trading following fourth-quarter results.

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