IBM Reports Weak Revenue, Joins Meta Platforms And Other Big Stocks Moving Lower In Thursday's Pre-Market Session

U.S. stock futures were lower this morning, with the Dow futures falling over 200 points on Thursday.

Shares of International Business Machines Corporation IBM fell sharply in today's pre-market trading after the company reported mixed first-quarter financial results. The company also announced it will acquire HashiCorp.

IBM's first-quarter revenue increased 1% year-over-year to $14.46 billion, which missed the consensus estimate of $14.55 billion, according to Benzinga Pro. The company reported quarterly adjusted earnings of $1.68 per share, which beat analyst estimates of $1.60 per share.

IBM shares tumbled 8.4% to $168.73 in pre-market trading.

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

• Meta Platforms, Inc. META shares declined 12.9% to $429.25 in pre-market trading after reporting first-quarter results.
• MarineMax, Inc. HZO shares fell 12.8% to $23.70 in pre-market trading after the company posted downbeat quarterly results and slashed FY24 EPS guidance.
• Southwest Airlines Co. LUV shares declined 8.4% to $26.85 in pre-market trading after the company reported worse-than-expected first-quarter financial results.
• Vista Energy, S.A.B. de C.V. VIST shares fell 8.3% to $39.80 in pre-market trading after the company reported worse-than-expected first-quarter financial results.
• Textron Inc. TXT shares fell 7.1% to $87.34 in pre-market trading following weaker-than-expected quarterly earnings.
• Snap Inc. SNAP fell 5% to $10.53 pre-market trading.
• Graco Inc. GGG shares slipped 4.9% to $85.02 in pre-market trading following downbeat first-quarter results.
• ServiceNow, Inc. NOW shares fell 4.1% to $715.50 in pre-market trading after the company reported first-quarter financial results.

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