Macy's Reports Weak Sales, Joins JD.com And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

Author: Avi Kapoor | August 21, 2024 08:14am

U.S. stock futures were higher this morning, with the S&P 500 futures gaining around 0.2% on Wednesday.

Shares of Macy’s, Inc. (NYSE:M) fell sharply in today's pre-market trading after reporting weak second-quarter sales results.

Macy’s reported quarterly earnings of 53 cents per share which beat the analyst consensus estimate of 29 cents per share. The company reported quarterly sales of $4.937 billion which missed the analyst consensus estimate of $5.118 billion.

Macy’s shares dipped 9.4% to $16.08 in pre-market trading.

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

Sabre Corporation (NASDAQ:SABR) shares declined 8.8% to $2.70 in pre-market trading. Sabre and WestJet recently expanded their long-term distribution deal to include NDC content.
JD.com, Inc. (NASDAQ:JD) shares fell 7.5% to $26.05 in pre-market trading amid Walmart’s plan to sell its stake in the company.
Bitfarms Ltd. (NASDAQ:BITF) shares fell 7.5% to $2.18 in pre-market trading after the company announced plans to acquire Stronghold Digital Mining.
Emergent BioSolutions Inc. (NYSE:EBS) shares declined 6.6% to $9.00 in pre-market trading after dipping 20% on Tuesday.
Graphjet Technology (NASDAQ:GTI) shares fell 6.4% to $2.62 in pre-market trading after jumping over 46% on Tuesday.
Allego N.V. (NYSE:ALLG) shares slipped 5.2% to $1.82 in pre-market trading after jumping over 82% on Tuesday.