NXP Semiconductors Posts Mixed Q2 Results, Joins Medpace And Other Big Stocks Moving Lower In Tuesday Pre-Market Session

Author: Avi Kapoor | July 23, 2024 08:05am

U.S. stock futures were mixed this morning, with the Dow futures gaining around 20 points on Tuesday.

Shares of NXP Semiconductors N.V. (NASDAQ:NXPI) fell sharply in today's pre-market trading following mixed second-quarter earnings.

NXP said second-quarter revenue decreased 5% year-over-year to $3.127 billion, beating analyst estimates of $3.125 billion. The company reported adjusted earnings of $3.20 per share, narrowly missing estimates of $3.21 per share, per Benzinga Pro.

NXP said it expects third-quarter revenue to be in the range of $3.15 billion to $3.35 billion versus estimates of $3.35 billion. The company sees third-quarter adjusted earnings in the range of $3.21 to $3.63 per share versus estimates of $3.56 per share.

NXP Semiconductors shares dipped 9.1% to $258.03 in the pre-market trading session.

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

Medpace Holdings, Inc. (NASDAQ:MEDP) shares declined 12.6% to $382.00 in pre-market trading after the company reported mixed second-quarter financial results and narrowed its FY24 revenue guidance with its midpoint below estimates.
Oatly Group AB (NASDAQ:OTLY) shares fell 8.1% to $1.02 in pre-market trading following a 5% decline on Monday.
Archrock, Inc. (NYSE:AROC) shares declined 7.9% to $21.50 in pre-market trading. Archrock commenced public offering of 11 million shares of its common stock and announced plans to acquire Total Operations and Production Services for $983 million in cash and stock.
Serve Robotics Inc. (NASDAQ:SERV) shares fell 6.3% to $8.22 in pre-market trading. Serve Robotics shares jumped around 16% on Monday after Nvidia last week disclosed a stake in the company.
Woodside Energy Group Ltd (NYSE:WDS) shares fell 4.3% to $18.34 in pre-market trading. Tellurian inked an acquisition deal with Australia's Woodside Energy Group Ltd for an implied enterprise value of $1.2 billion, including net debt.
Under Armour, Inc. (NYSE:UAA) shares declined 3.6% to $6.45 in pre-market trading.
STMicroelectronics N.V. (NYSE:STM) fell 3.2% to $40.66 in pre-market trading after gaining 5% on Monday.