US stocks are poised to start in the red Friday, but gathering investor interest with gusto before the bell is Progress Software Corp (NASDAQ:PRGS).
The Massachusetts-based firm plunged 13.63% to $36.75 in pre-market after the company posted mixed third-quarter earnings.
It generated earnings per share (EPS) of $0.60 in the three months, which was higher than the analysts' estimate of $0.58 per share.
But revenue in the quarter reportedly missed expectations, with the company reporting $95.8 million, versus $97 million expected by the scribes on Wall Street.
Also, in pre-market, Vail Resorts Inc (NYSE:MTN) shares shed 3.8% before the bell to $275.25 after it unveiled a quarterly loss of $2.07 per share versus the consensus estimate of a loss of $2.31.
This compares to a loss of $1.43 per share a year ago.
In other news, Tesla (NASDAQ:TSLA) was back in the frame (when isn't it?), as it was reported that chief Elon Musk was being sued by the US Securities and Exchange Commission over his now-abandoned plan to take the company private.
Today, it has emerged that broker heavyweight Citi has downgraded the shares to sell from neutral, saying the stock is 'too risky.