Why AMD Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

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.