US stocks are poised to head south again on Friday, and gaining traction in pre-market is Ambarella Inc (NASDAQ:AMBA), the chip design group.
Its shares tanked over 14% in pre-market trade to US$34.15 after the group forecast third quarter revenue, which was significantly below Wall Street estimates.
The company now expects third-quarter revenue of between US$55.5mln and US$58.5mln, while analysts has expected US$73.4mln.
It came after the group reported a second-quarter loss of US$6.9mln versus a net income of US$3.3mln in the same three months a year ago.
Meanwhile, also in the news before the New York bell is supermarkets group Publix, which is recalling some beef products, which may have E.coli.
Reportedly, 18 people have become ill between July 5 and July 25 this year, the US department of agriculture's food safety and inspection service said.
Elsewhere, American Outdoor Brands Corp (NASDAQ:AOBC) shares rocketed almost 26% to US$12.30 in before-the-bell deals.
The gun maker, parent of Smith & Wesson, reported earnings that beat Wall Street analysts' expectations.
Earnings per share (EPS) was US$0.21 versus US$0.12, which had been expected. Revenue was US$138.8 mln against US$134.5mln, which had been expected.
Last but not least, Merck & Co Inc (NYSE:MRK) shares added 0.38% in pre-market after the key US Food and Drug Administration (FDA) approved two new HIV-1 medicines, Delstrigo and Pifeltro.