U.S. stock futures were lower this morning, with the Nasdaq 100 futures falling around 1% on Tuesday.
Shares of Fabrinet (NYSE: FN ) fell sharply in pre-market trading after the company reported fourth-quarter results .
Fabrinet reported quarterly earnings of $4.10 per share which beat the analyst consensus estimate of $3.82 per share. The company reported quarterly sales of $1.316 billion which beat the analyst consensus estimate of $1.275 billion.
Fabrinet said it sees first-quarter GAAP EPS of $3.39-$3.54, versus market estimates of $3.78.
Fabrinet shares dipped 9.1% to $544.06 in pre-market trading.
Here are some other stocks moving lower in pre-market trading.
IQIYI Inc – ADR (NASDAQ: IQ ) declined 8.3% to $1.22 in pre-market trading after reporting second-quarter results. Hesai Group – ADR (NASDAQ: HSAI ) dipped 7.8% to $16.66 in pre-market trading following second-quarter results. Trident Digital Tech Holdings Ltd (NASDAQ: TDTH ) fell 6.7% to $1.80 in pre-market trading after gaining 2% on Monday. AXT Inc (NASDAQ: AXTI ) fell 6.7% to $89.55 in pre-market trading after jumping around 18% on Monday. Aurora Innovation Inc (NASDAQ: AUR ) declined 6% to $6.55 in pre-market trading. Latest Private Market Opportunities Join 400,000+ Investors Aehr Test Systems (NASDAQ: AEHR ) fell 5.8% to $137.17 in pre-market trading after gaining around 9% on Monday. Jefferies analyst Kevin Garrigan, last week, initiated coverage on Aehr Test System with a Buy rating and announced a price target of $175. SanDisk Corp (NASDAQ: SNDK ) declined 5.8% to $1,683.00 in pre-market trading after gaining around 9% on Monday. Coherent Corp (NYSE: COHR ) fell 5.6% to $331.34 in pre-market trading after rising around 8% on Monday. Western Digital Corp (NASDAQ: WDC ) declined 5.6% to $506.05 in pre-market trading after gaining over 5% on Monday. ASE Technology Holding Co Ltd (NYSE: ASX ) fell 5.5% to $37.70 in pre-market trading. ASE Technology Holding recently reported a year-over-year increase in its July net revenue results. Voyager Technologies Inc (NYSE: VOYG ) fell 5.4% to $41.60 in pre-market trading.Photo via Shutterstock
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