Intel Reports Weak Results, Joins Amazon, Opendoor Technologies And Other Big Stocks Moving Lower In Friday's Pre-Market Session

Author: Avi Kapoor | August 02, 2024 06:01am

U.S. stock futures were lower this morning, with the Dow futures falling around 300 points on Friday.

Shares of Intel Corporation (NASDAQ:INTC) fell in today's pre-market trading after the company reported its second-quarter financial results Thursday.

Intel reported quarterly earnings of 2 cents per share which missed the analyst consensus estimate of 10 cents by 80% and represents a 84.62% decrease from the same period last year. Quarterly sales came in at $12.83 billion, missing the analyst consensus estimate of $12.94 billion and representing a 0.9% decrease year-over-year.

Intel shares fell 21.5% to $22.80 in pre-market trading.

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

Procore Technologies, Inc. (NYSE:PCOR) shares declined 21.9% to $52.48 in pre-market trading after the company reported second-quarter financial results and issued third-quarter revenue guidance below estimates.
Snap Inc. (NYSE:SNAP) fell 17.1% to $10.62 pre-market trading after the company reported mixed second-quarter financial results.
Atlassian Corporation (NASDAQ:TEAM) shares declined 16.9% to $143.94 in pre-market trading after the company posted fourth-quarter results.
Opendoor Technologies Inc. (NASDAQ:OPEN) shares fell 11.7% to $1.88 in pre-market trading after the company reported second-quarter financial results.
Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) dipped 10.9% to $1.80 in pre-market trading after the company posted weak second-quarter results.
Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG) shares declined 8.5% to $10.11 in pre-market trading.
Amazon.com, Inc. (NASDAQ:AMZN) shares fell 8.4% to $168.63 in pre-market trading as the company posted mixed results for its second quarter on Thursday.
Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) fell 6.3% to $13.20 in pre-market trading.
CenterPoint Energy, Inc. (NYSE:CNP) declined 6.2% to $26.40 in pre-market trading. BMO Capital analyst James Thalacker downgraded CenterPoint Energy from Outperform to Market Perform and lowered the price target from $31 to $28.
ASML Holding N.V. (NASDAQ:ASML) shares fell 6.2% to $828.70 in pre-market trading.