Thursday morning brought a wave of selling pressure to U.S. markets, with Nasdaq 100 futures tumbling around 150 points before the opening bell. The early action featured some notable casualties, led by a retail sector stumble and a tech giant disappointment.
Pre-Market Movers: Oracle Stumbles While Oxford Industries Takes a Major Hit
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Oxford Industries Crashes on Guidance Cut
Oxford Industries Inc. (OXM) took the hardest hit, nosediving 25.6% to $30.17 in pre-market trading. The apparel company reported third-quarter results that technically beat expectations—posting a loss of 92 cents per share versus the anticipated 95-cent loss, with revenue of $307.344 million topping the $304.642 million consensus estimate.
But here's the thing about earnings: sometimes beating expectations doesn't matter if you're telling investors things are about to get worse. Oxford Industries issued fourth-quarter guidance below analyst estimates and slashed its full fiscal year 2025 outlook, which was enough to send shares tumbling by more than a quarter of their value.
Other Notable Decliners
Oracle Corporation (ORCL) fell 11.3% to $197.70 after delivering mixed second-quarter results for fiscal 2026 following Wednesday's market close. The database and cloud computing giant's performance apparently left investors wanting more.
Ur-Energy Inc. (URG) dropped 12.1% to $1.20 after announcing a $100 million offering of 4.75% convertible senior notes due 2031. Similarly, T1 Energy Inc. (TE) slid 10.8% to $5.50 after unveiling proposed offerings totaling $260 million—$120 million in convertible senior notes and $140 million in common stock.
Rezolute Inc. (RZLT) declined 5.8% to $10.30 following its announcement of Phase 3 sunRIZE study results for Congenital Hyperinsulinism, a rare metabolic disorder.
CapsoVision Inc. (CV) gave back some of Wednesday's gains, tumbling 16.6% to $9.86 after surging 33% the previous session. NovaBay Pharmaceuticals Inc. (NBY) also retreated 5.8% to $2.28 after jumping 34% on Wednesday.
Rounding out the decliners, Constellium SE (CSTM) fell 3% to $17.62 after gaining 4% the prior day.
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