Oxford Industries Reports Weak Results, Joins Viper Energy And Other Big Stocks Moving Lower In Thursday's Pre-Market Session

Author: Avi Kapoor | September 12, 2024 08:02am

U.S. stock futures were higher this morning, with the Dow futures gaining around 0.2% on Thursday.

Shares of Oxford Industries, Inc. (NYSE:OXM) shares declined 10.3% to $75.02 in pre-market trading after the company reported weaker-than-expected earnings and sales results for the second quarter.

Oxford Industries reported quarterly earnings of $2.77 per share which missed the analyst consensus estimate of $3.00 per share. Quarterly sales of $419.886 million missed the analyst consensus estimate of $438.176 million.

The company said it sees FY24 net sales of $1.51 billion to $1.54 billion and adjusted earnings of $7 to $7.30 per share.

GameStop shares dipped 10.5% to $20.98 in pre-market trading.

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

BeiGene, Ltd. (NASDAQ:BGNE) fell 6.8% to $196.80 in pre-market trading after gaining around 7% on Wednesday.
XCHG Limited (NASDAQ:XCH) declined 6.4% to $8.33 in pre-market trading after jumping around 20% on Wednesday.
Viper Energy, Inc. (NASDAQ:VNOM) shares declined 5.5% to $42.66 in pre-market trading. Viper Energy priced its upsized public offering of 10 million Class A common shares at $42.50 per share.
Torrid Holdings Inc. (NASDAQ:CURV) shares fell 4.3% to $4.70 in pre-market trading. Torrid Holdings shares dipped over 26% on Wednesday after the company announced a secondary offering of 8 million shares.
Akero Therapeutics, Inc. (NASDAQ:AKRO) shares fell 4% to $24.60 in pre-market trading.
Dogness (International) Corporation (NASDAQ:DOGZ) shares fell 3.5% to $24.80 in pre-market trading.
Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares declined 3.3% to $1.45 in pre-market trading after declining 5% on Wednesday. Deutsche Bank recently announced a $1.5 price target on the stock.