BioNTech Reports Downbeat Earnings, Joins Medical Properties Trust And Other Big Stocks Moving Lower In Monday's Pre-Market Session

Author: Avi Kapoor | May 06, 2024 07:32am

U.S. stock futures were higher this morning, with the Dow futures gaining over 100 points on Monday.

Shares of BioNTech SE (NASDAQ:BNTX) fell sharply in today's pre-market trading following weaker-than-expected first-quarter earnings.

BioNTech posted quarterly GAAP loss of €1.31 per share, missing estimates of €0.97 per share. The company's sales came in at €187.600 million missing estimates of €427.500 million.

BioNTech shares fell 4.4% to $88.65 in pre-market trading in pre-market trading.

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

Medical Properties Trust, Inc (NYSE:MPW) shares declined 14.4% to $4.17 in pre-market trading after tenant Steward Health Care reportedly filed for bankruptcy protection.
Embotelladora Andina S.A. (NYSE:AKO) fell 10.8% to $16.65 pre-market trading after gaining 4% on Friday.
Luminar Technologies, Inc. (NASDAQ:LAZR) shares declined 9.5% to $1.52 in pre-market trading after the company announced a workforce reduction.
MMTec, Inc. (NASDAQ:MTC) dipped 8% to $2.19 in pre-market trading after declining 4% on Friday.
Ocular Therapeutix, Inc. (NASDAQ:OCUL) shares fell 7.6% to $5.70 in pre-market trading after gaining 5% on Friday.
ADC Therapeutics SA. (NYSE:ADCT) shares declined 6.3% to $4.59 in pre-market trading after the company posted weak quarterly sales.
Victoria’s Secret & Co (NYSE:VSCO) fell 5% to $16.67 pre-market trading. Morgan Stanley analyst Alexandra Steiger downgraded Victoria’s Secret from Equal-Weight to Underweight and lowered the price target from $19 to $15.