Upstart Posts Downbeat Q1 Earnings, Joins Wolfspeed, Arista Networks And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

U.S. stock futures were higher this morning, with the Dow futures gaining around 200 points on Wednesday.

Shares of Upstart Holdings Inc (NASDAQ:UPST) fell sharply in pre-market trading after the company reported worse-than-expected first-quarter adjusted EPS results and affirmed its FY26 sales guidance below estimates.

Upstart reported adjusted quarterly earnings of 30 cents per share, which missed the consensus estimate of 42 cents by 28.57%.  Adjusted EPS excludes stock-based compensation expenses of 37 cents per share. Quarterly revenue came in at $308.21 million, which beat the Street estimate of $303.68 million, according to Benzinga Pro data.

Upstart shares dipped 11.8% to $27.49 in pre-market trading.

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

• Atomera Inc (NASDAQ:ATOM) fell 41.8% to $6.14 in pre-market trading after the company reported worse-than-expected first-quarter financial results.
• Primoris Services Corp (NYSE:PRIM) declined 27.1% to $148.04 in pre-market trading after the company reported worse-than-expected first-quarter financial results and cut its FY26 guidance.
• TransMedics Group Inc (NASDAQ:TMDX) fell 20.7% to $75.08 in pre-market trading after the company reported mixed quarterly financial results.
• Hackett Group Inc (NASDAQ:HCKT) tumbled 19.7% to $11.13 in pre-market trading after the company reported worse-than-expected first-quarter financial results and issued second-quarter guidance below estimates.
• Alphatec Holdings Inc (NASDAQ:ATEC) shares dipped 18.8% to $8.31in pre-market trading after the company reported worse-than-expected quarterly sales results.
• Klaviyo Inc (NYSE:KVYO) fell 17.8% to $19.16 in pre-market trading following first-quarter results.
• Phoenix Asia Holdings Ltd (NASDAQ:PHOE) dipped 17.2% to $38.92 in pre-market trading. Phoenix Asia Holdings shares jumped over 168% on Tuesday after the company announced that it will acquire ACEA Pharma for $1 billion in stock and will assume the acquired company’s name.
• Wolfspeed Inc (NYSE:WOLF) fell 12.5% to $32.04 in pre-market trading after the company reported worse-than-expected third-quarter financial results and issued fourth-quarter sales guidance below estimates.
• Rush Street Interactive Inc (NYSE:RSI) fell 12.5% to $25.51 in pre-market trading as the company announced pricing of secondary offering of Class A common stock by selling stockholders and concurrent repurchase of shares.
• Par Pacific Holdings Inc (NYSE:PARR) declined 11% to $61.56 in pre-market trading after the company reported mixed first-quarter financial results.
• Archrock Inc (NYSE:AROC) declined 9.6% to $36.01 in pre-market trading after the company reported worse-than-expected first-quarter financial results.
• Arista Networks Inc (NYSE:ANET) fell 8.7% to $155.30 in pre-market trading following first-quarter results.

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