RH Posts Q3 Loss, Joins HashiCorp, Lululemon And Other Big Stocks Moving Lower In Friday’s Pre-Market Session – GDS Holdings (NASDAQ:GDS), Avid Bioservices (NASDAQ:CDMO)


RH Stock Drops on Q3 Performance: Here’s Why

December 8, 2023 5:27 AM | 2 min read

U.S. stock futures traded mixed this morning, with the Dow Jones futures gaining around 15 points on Friday.

Shares of RH (NYSE: RH) moved lower in pre-market after the company posted an unexpected loss for its third quarter.

RH reported quarterly adjusted losses of 42 cents per share, compared to earnings of $5.67 per share from the same period last year. Quarterly sales of $751.23 million missed the Street’s estimate of $756.74 million, according to Benzinga Pro.

RH shares declined 9.4% to $255.01 in pre-market trading.

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

– Avid Bioservices, Inc. (NASDAQ: CDMO) shares tumbled 20.8% to $4.19 in pre-market trading after the company reported weak quarterly results.
– HashiCorp, Inc. (NASDAQ: HCP) shares dipped 20.5% to $19.80 in pre-market trading after the company reported third-quarter financial results.
– Gates Industrial Corporation plc (NYSE: GTES) shares fell 8.2% to $11.25 in pre-market trading. Gates Industrial announced a secondary offering of 15m of Gates’ ordinary shares.
– XPeng Inc. (NYSE: XPEV) shares fell 2.9% to $15.54 in pre-market trading after declining around 4% on Thursday.
– Lululemon Athletica Inc. (NASDAQ: LULU) shares slipped 2.7% to $451.95 in pre-market trading. Lululemon reported upbeat results for its third quarter but issued a weak sales outlook for the current quarter.
– GDS Holdings Limited (NASDAQ: GDS) fell 2.5% to $9.00 in pre-market trading. GDS secured a syndicated green financing facility of MYR1.27 billion to complete the next phase of Nusajaya Tech Park Data Center Campus development.
– GameStop Corp. (NYSE: GME) shares declined 2.3% to $15.98 in pre-market trading. GameStop recently reported third-quarter net sales of $1.078 billion, which was down from the $1.186 billion reported in the same quarter last year.

Overall, the pre-market session saw several stocks facing losses due to various factors such as weak financial results, secondary offerings, and sales outlook concerns. Investors will closely monitor the market throughout the day for further developments.

Now Read This: Lululemon, Johnson Outdoors And 3 Stocks To Watch Heading Into Friday

Don’t forget to check out our premarket coverage here

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