U.S. equity futures showed gains in the early trading session, with the Nasdaq 100 futures advancing more than 200 points on Wednesday morning. Despite this optimistic start, a number of individual stocks were under selling pressure in pre-market trading hours, particularly those releasing recent financial updates or capital market activities.
Shares of semiconductor firm Qorvo, Inc. (NASDAQ:QRVO) declined sharply after the company reported its third-quarter earnings and provided revenue guidance for the upcoming quarter that fell short of market expectations. For the fiscal fourth quarter, Qorvo forecasted revenue in the range of $775 million to $825 million, which was notably below analyst estimates of approximately $904.59 million. Adjusted earnings per share (EPS) guidance also disappointed, with the company anticipating a range between $1.05 and $1.35 compared to consensus forecasts of $1.37 per share.
As a result, Qorvo's shares dropped 10.5%, settling near $74.11 in pre-market trading. This decline underscored investor concerns about the company's near-term growth prospects following the revised guidance.
Other technology and related sector stocks also experienced declines ahead of the market open. Virtuix Holdings Inc. (NASDAQ:VTIX) saw a significant pullback of 22.1% to $18.99, retracing gains from a 22% rally the previous trading day. Altimmune, Inc. (NASDAQ:ALT) fell by 15.8% to $5.20 after announcing the pricing of a $75 million registered direct offering of common stock, signaling potential dilution concerns among investors.
Lithium producer Elevra Lithium Limited (NASDAQ:ELVR) reported December quarter revenue of $66 million, yet its shares decreased 10.8% to $56.50. United Microelectronics Corporation (NYSE:UMC) also recorded a nearly 10% decline to $11.26 following the release of its fourth-quarter results.
In international markets, Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (NYSE:TLK) shares dropped 9.6% to $21.19. Similarly, Skyworks Solutions, Inc. (NASDAQ:SWKS) shares were down 9.2% to $54.50.
Healthcare and aerospace sectors experienced pressures as well. Elevance Health, Inc. (NYSE:ELV) traded lower by 6.7% at $301.29 after reporting weaker quarterly sales. Meanwhile, StandardAero, Inc. (NYSE:SARO) shares declined 6.4% to $30.98 following the disclosure of preliminary fiscal year 2025 revenue and the filing of a prospectus to sell over 187 million shares, including a new offering of 50 million shares.
Finally, MSCI Inc. (NYSE:MSCI) saw a modest decrease of 3.6% to $560.22 in pre-market activity.
The pre-market movements indicate investor sensitivity to earnings performance, guidance revision, and equity offerings, which have influenced early trading sentiment despite broader optimistic futures. Market participants will continue to monitor these companies' developments as the regular session advances.