Why AMD Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session
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Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) fell sharply during Wednesday's session as the company reported first-quarter results and issued revenue guidance for the second quarter.
AMD guided to second-quarter revenue of $5.7 billion plus or minus $300 million and a non-GAAP gross margin of about 53% against Street estimates of $5.7 billion in second-quarter revenue. Street expectations for fiscal year 2024 are for earnings of $3.40 per share and revenue of $24.13 billion, respectively, according to data from Benzinga Pro.
Advanced Micro Devices shares dipped 6.9% to $147.44 on Wednesday.
Here are some other stocks moving in today’s mid-day session.
Gainers
- CytomX Therapeutics, Inc. (NASDAQ:CTMX) shares jumped 97.5% to $3.2199. CytomX Therapeutics will report first quarter 2024 results and issue an initial CX-904 Phase 1a clinical data update on May 8.
- IM Cannabis Corp. (NASDAQ:IMCC) gained 41.3% to $1.2150 after jumping around 54% on Tuesday.
- Akanda Corp. (NASDAQ:AKAN) gained 39.5% to $0.1295. Shares of cannabis-related stocks traded higher following reports suggesting the DEA plans to reclassify cannabis as a less dangerous drug.
- Getaround, Inc. (NYSE:GETR) rose 35% to $0.2741 after the company announced it secured up to $50 million in additional financing.
- Rocky Brands, Inc. (NASDAQ:RCKY) gained 31.6% to $33.93 after the company reported better-than-expected quarterly financial results.
- Palisade Bio, Inc. (NASDAQ:PALI) shares climbed 28% to $7.72 after the company announced completion of its analysis to determine the effects of bioactivated PALI-2108 on TNF-α production in a whole blood assay.
- TransMedics Group, Inc. (NASDAQ:TMDX) shares rose 28% to $120.26 after the company raised its 2024 guidance.
- Surmodics, Inc. (NASDAQ:SRDX) gained 27.2% to $32.69 following strong quarterly results.
- DecisionPoint Systems, Inc. (NASDAQ:DPSI) rose 24.6% to $10.03 as the company agreed to go private in all-cash transaction.
- CareDx, Inc (NASDAQ:CDNA) rose 23.4% to $9.59. CareDx is expected to report financial results for the first quarter 2024 after the closing bell on Thursday, May 9.
- Powell Industries, Inc. (NASDAQ:POWL) jumped 23.2% to $176.16 after the company reported better-than-expected second-quarter financial results.
- TG Therapeutics, Inc. (NASDAQ:TGTX) rose 21.7% to $16.64 following a first-quarter revenue beat and increased 2024 Briumvi US net product revenue outlook.
- New York Community Bancorp, Inc. (NYSE:NYCB) climbed 20% to $3.1887 following quarterly results.
- Bio-Techne Corporation (NASDAQ:TECH) jumped 20.1% to $75.89 following upbeat quarterly results.
- Inari Medical, Inc. (NASDAQ:NARI) shares gained 19.1% to $44.47 after the company reported better-than-expected first-quarter sales results and issued FY24 revenue guidance above estimates.
- LendingClub Corporation (NYSE:LC) gained 18% to $8.87.
- A10 Networks, Inc. (NYSE:ATEN) gained 17.7% to $15.38 following better-than-expected quarterly results.
- Pinterest, Inc (NYSE:PINS) rose 17.5% to $39.29 following strong first-quarter earnings and upbeat second-quarter guidance.
- Root, Inc. (NASDAQ:ROOT) shares climbed 17.2% to $81.66 after the company reported better-than-expected first-quarter financial results.
- LendingClub Corporation (NYSE:LC) gained 17.2% to $8.82 following upbeat earnings.
- UFP Technologies, Inc. (NASDAQ:UFPT) jumped 13.8% to $234.34 following upbeat earnings.
- Conduent Incorporated (NASDAQ:CNDT) rose 13.7% to $3.58 after the company reported better-than-expected first-quarter results and issued strong FY24 guidance.
- Stagwell Inc. (NASDAQ:STGW) gained 13.1% to $6.73 following upbeat earnings.
- The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) climbed 11.5% to $36.89 following strong quarterly earnings.
- Garmin Ltd. (NASDAQ:GRMN) rose 11% to $160.40 after the company reported better-than-expected first-quarter financial results and affirmed FY24 adjusted EPS and sales guidance, which is above estimates.
- Predictive Oncology Inc. (NASDAQ:POAI) rose 9.9% to $1.5699 after the company announced a collaboration with FluGen for an intranasal flu vaccine.
- Trinity Industries, Inc. (NYSE:TRN) gained 9.4% to $28.48 following upbeat earnings.
- Plutonian Acquisition Corp. (NASDAQ:PLTN) gained 6.8% to $9.48.
- Lion Group Holding Ltd. (NASDAQ:LGHL) shares gained 6.5% to $0.5188 after the company reported a year-over-year increase in FY23 financial results.
- Lemonade, Inc. (NYSE:LMND) shares gained 6% to $18.26 after the company reported better-than-expected first-quarter financial results and raised its FY24 revenue guidance above estimates.
Losers
- Cemtrex, Inc. (NASDAQ:CETX) shares fell 73.1% to $0.3054 after the company announced pricing of a $10 million upsized underwritten public offering.
- Mobile-health Network Solutions (NASDAQ:MNDR) dipped 61.8% to $9.41.
- CVRx, Inc. (NASDAQ:CVRX) fell 40.2% to $9.27 after the company reported worse-than-expected first-quarter financial results. JP Morgan analyst Robbie Marcus downgraded the stock from Overweight to Neutral and lowered the price target from $36 to $13.
- Leggett & Platt, Incorporated (NYSE:LEG) fell 29.1% to $12.81 after the company reported worse-than-expected first-quarter financial results. The company also reduced its dividend.
- Concord Medical Services Holdings Limited (NYSE:CCM) dipped 28.8% to $0.6052.
- XTI Aerospace, Inc. (NASDAQ:XTIA) fell 25.5% to $1.90
- Canopy Growth Corporation (NASDAQ:CGC) dipped 25% to $11.16.
- Visionary Holdings Inc. (NASDAQ:GV) declined 22.3% to $0.1883.
- Astec Industries, Inc. (NASDAQ:ASTE) fell 21.1% to $32.99 following downbeat quarterly results.
- CVS Health Corporation (NYSE:CVS) dipped 19.4% to $54.55 following worse-than-expected first-quarter EPS and revenues.
- Super Micro Computer, Inc. (NASDAQ:SMCI) shares declined 15.9% to $721.99 following mixed third-quarter financial results.
- Starbucks Corporation (NASDAQ:SBUX) fell 15.8% to $74.54 following weaker-than-expected second-quarter earnings.
- Ryerson Holding Corporation (NYSE:RYI) declined 15.1% to $24.25 after posting a loss for the first quarter.
- DigitalBridge Group, Inc. (NASDAQ:DBRG) fell 14.4% to $14.08 after the company reported first-quarter financial results.
- Hillenbrand, Inc. (NYSE:HI) dipped 14% to $41.04 after the company reported mixed second-quarter financial results and cut FY24 adjusted EPS guidance below estimates.
- Skyworks Solutions, Inc. (NASDAQ:SWKS) shares fell 13.7% to $92.01 after the company reported second-quarter financial results and issued third-quarter revenue guidance with the midpoint below estimates.
- Sobr Safe Inc (NASDAQ:SOBR) shares declined 12.2% to $0.2801.
- SiteOne Landscape Supply, Inc. (NASDAQ:SITE) fell 11.6% to $138.66 after the company reported mixed first-quarter financial results.
- Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) fell 11% to $16.84 following a first-quarter revenue miss and soft FY24 guidance.
- O-I Glass, Inc. (NYSE:OI) fell 10.5% to $13.38 after the company reported worse-than-expected first-quarter sales results and cut FY24 adjusted EPS guidance.
- The Estée Lauder Companies Inc. (NYSE:EL) fell 9.7% to $132.39 after the company reported third-quarter financial results and issued FY24 adjusted EPS guidance below estimates.
- Global Payments Inc. (NYSE:GPN) fell 9% to $111.68 after the company reported first-quarter financial results and issued guidance.
- Block, Inc. (NYSE:SQ) dipped 8.8% to $66.59. A report earlier today indicated federal prosecutors are examining the company’s financial transactions.
- The Carlyle Group Inc. (NASDAQ:CG) fell 8.2% to $41.10 after the company reported first-quarter financial results.
- Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares declined 7.9% to $1.2801. Polestar delayed annual report due to accounting errors.
- The Kraft Heinz Company (NASDAQ:KHC) fell 6.3% to $36.19 following mixed first-quarter results.
- The Clorox Company (NYSE:CLX) fell 6% to $139.09 after the company reported worse-than-expected third-quarter sales results.
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