Coty tumbles 7.7% as mixed results overshadow $1.27 billion revenue beat

U.S. stock futures were mixed Thursday morning, with Nasdaq 100 futures up around 0.1%. Coty Inc. shares fell 7.7% to $2.80 in pre-market trading after reporting a quarterly loss of two cents per share, missing the one-cent consensus loss estimate, despite revenue of $1.27 billion beating the $1.19 billion Street estimate by 6.25%. Coty also guided first-quarter adjusted EPS below estimates and said the Gucci Beauty license exit will reduce FY28 sales and profit. Moderna Inc. dropped 12.4% to $153.01 after surging 177% the previous day on positive topline results from its Phase 3 INTerpath-001 trial with Merck. Wolfspeed Inc., ATRenew Inc. and a range of other stocks also moved lower in pre-market trading following earnings, forecasts or earlier gains.

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