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ChargePoint Holdings Reports Preliminary Q3 Results, Joins Applied Materials, Alibaba And Other Big Stocks Moving Lower In Friday's Pre-Market Session

Published 17/11/2023, 10:13
© Reuters. ChargePoint Holdings Reports Preliminary Q3 Results, Joins Applied Materials, Alibaba And Other Big Stocks Moving Lower In Friday's Pre-Market Session
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Benzinga - by Lisa Levin, Benzinga Editor.

U.S. stock futures traded mostly higher this morning on Friday, with the Dow Jones futures gaining around 50 points this morning.

Shares of ChargePoint Holdings, Inc. (NYSE: CHPT) shares tumbled in pre-market trading after the company reported preliminary results and announced a management transition.

ChargePoint said it sees third-quarter revenue of $108 million to $113 million versus previous expectations of $150 million to $165 million, according to data from Benzinga Pro. The company said it expects to take a non-cash impairment charge of $42 million resulting in GAAP gross margin of negative 21% to negative 23%.

The company appointed Rick Wilmer, who has been COO since July 2022, as its new president and CEO, effective Nov. 16.

ChargePoint shares dipped 24.3% to $2.37 in pre-market trading.

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

  • Alpha Technology Group Limited (NASDAQ: ATGL) shares declined 17.2% to $24.69 in pre-market trading after jumping 136% on Thursday.
  • Applied Materials, Inc. (NASDAQ: AMAT) shares fell 7.3% to $143.49 in pre-market trading after the company reported fourth-quarter financial results.
  • reAlpha Tech Corp. (NASDAQ: AIRE) fell 5.6% to $11.42 in pre-market trading.
  • ZTO Express (Cayman) Inc. (NYSE: ZTO) shares declined 4.8% to $22.89 in pre-market trading following third-quarter results.
  • Alibaba Group Holding Limited (NYSE: BABA) shares fell 4.1% to $75.84 in pre-market trading. Alibaba shares fell over 9% on Thursday after the company reported second-quarter financial results.
  • JD.com, Inc. (NASDAQ: JD) fell around 3% to $27.26 in pre-market trading. JD.com recently reported mixed third-quarter financial results.
  • Baidu, Inc. (NASDAQ: BIDU) fell 2.6% to $106.41 in pre-market trading following a 3% decline on Thursday.

Now Read This: BJ's Wholesale Club, Gap And 3 Stocks To Watch Heading Into Friday

Don’t forget to check out our premarket coverage here

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

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