Applied Materials Issues Weak Outlook, Joins Globant, Sandisk And Other Big Stocks Moving Lower In Friday's Pre-Market Session

Santa,Clara,,California,-,April,26,,2018:,Applied,Materials,Offices

U.S. stock futures were mixed this morning, with the Dow futures gaining around 300 points on Friday.

Shares of Applied Materials, Inc. (NASDAQ:AMAT) fell sharply in pre-market trading after the company issued weak fourth-quarter guidance.

Applied Materials reported third-quarter revenue of $7.3 billion, beating analyst estimates of $7.22 billion. The chip equipment manufacturer reported third-quarter adjusted earnings of $2.48 per share, beating analyst estimates of $2.36 per share, according to Benzinga Pro.

Applied Materials expects fourth-quarter revenue of $6.7 billion, plus or minus $500 million, versus estimates of $7.33 billion. The company expects fourth-quarter adjusted earnings to be between $1.91 and $2.31 per share, versus estimates of $2.39 per share.

Applied Materials shares dipped 14.7% to $160.51 in the pre-market trading session.

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

• Gambling.com Group Limited (NASDAQ:GAMB) shares tumbled 13.4% to $8.98 in pre-market trading after the company reported second-quarter results.
• Globant S.A. (NYSE:GLOB) dipped 11.8% to $68.75 in pre-market trading after the company issued FY25 sales guidance below estimates.
• Sandisk Corporation (NASDAQ:SNDK) declined 11.1% to $41.50 in pre-market trading. Sandisk reported upbeat earnings for its fourth quarter. Sandisk expects fiscal first-quarter revenue to be between $2.1 billion and $2.2 billion, versus estimates of $1.99 billion. The company also guided for first-quarter adjusted earnings of 70 cents to 90 cents per share, versus estimates of 84 cents per share, per Benzinga Pro
• 180 Life Sciences Corp (NASDAQ:ATNF) fell 7.8% to $7.02 in pre-market trading after dipping 29% on Thursday.
• KLA Corporation (NASDAQ:KLAC) shares fell 6.1% to $897.00 in pre-market trading.
• Lam Research Corporation (NASDAQ:LRCX) declined 5.8% to $101.21 in pre-market trading.
• So-Young International Inc. (NASDAQ:SY) shares fell 4.9% to $4.61 in pre-market trading after posting a loss for the second quarter.
• Noah Holdings Limited (NYSE:NOAH) dipped 3.7% to $11.51 in pre-market trading.

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