Stock market today: Dow, S&P 500, Nasdaq futures rise with Wall Street looking for more records

Shares of C3.ai (AI) are getting crushed pre-market to the tune of 30%.

And the rout is 100% deserved.

Late Friday the company said it sees preliminary first fiscal quarter revenue of $70.2 million to $70.4 million, about 33% below the mid-point of its prior guidance for $100 million to $109 million. Sales would be down 19% from the prior year.

The adjusted operating loss will be $57.7 million to $59.9 million, roughly twice the $23.5 million to $33.5 million loss that it had expected.

I don’t think there is anything to read into the AI trade here — this seems very company specific, and tied to a sales reorg the company under