FedEx Issues Soft Guidance, Joins Torrid Holdings, Allot And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

U.S. stock futures were mixed this morning, with the Dow futures falling around 0.1% on Wednesday.

Shares of FedEx Corporation (NYSE:FDX) fell sharply in today's pre-market trading following soft first-quarter guidance.

FedEx reported fourth-quarter revenue of $22.2 billion, beating analyst estimates of $21.84 billion, according to Benzinga Pro. The company reported fourth-quarter adjusted earnings of $6.07 per share, beating analyst estimates of $5.87 per share.

FedEx expects first-quarter adjusted earnings to be between $3.40 and $4 per share versus estimates of $4.15 per share. The company expects revenue to be flat to up 2% on a year-over-year basis in the first quarter.

FedEx shares dipped 5.4% to $216.85 in the pre-market trading session.

Here are some other stocks moving lower in pre-market trading.

• Torrid Holdings Inc. (NYSE:CURV) dipped 29.4% to $3.59 in pre-market trading as the company announced the pricing of secondary offering of common stock and concurrent share repurchase.
• Allot Ltd. (NASDAQ:ALLT) fell 9% to $8.75 in pre-market trading after the company announced the pricing of underwritten public offering of ordinary shares.
• QXO, Inc. (NYSE:QXO) fell 6.9% to $21.87 in pre-market trading as the company announced the pricing of common stock offering.
• Cidara Therapeutics, Inc. (NASDAQ:CDTX) fell 6.6% to $43.75 in pre-market trading after the company announced the pricing of upsized public offering of common stock.
• Standard BioTools Inc. (NASDAQ:LAB) fell 4.9% to $1.1604 in pre-market trading. Standard BioTools recently announced a strategic sale of SomaLogic to Illumina.
• AST SpaceMobile, Inc. (NASDAQ:ASTS) dipped 4.6% to $50.76 in pre-market trading as the company priced repurchase of convertible notes and registered direct offering of Class A common stock to fund convertible note repurchase.
• Daktronics, Inc. (NASDAQ:DAKT) fell 3.4% to $14.68 in pre-market trading following downbeat quarterly sales.

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