Market Maelstrom: AMD Declines as Other Stocks Soar Market Maelstrom: AMD Declines as Other Stocks Soar

Updated On: January 31, 2024 1:37 pm

Shares of Advanced Micro Devices, Inc. AMD stumbled, declining by 3.8% to $165.49 after unveiling fourth-quarter results.

AMD reported fourth-quarter non-GAAP earnings per share of 77 cents on revenue of $6.17 billion.

In contrast to AMD’s slide, a multitude of other stocks demonstrated remarkable dynamism in today’s mid-day session.

Gainers

Connexa Sports Technologies Inc. CNXA shares soared, leaping by 204% to $0.6049. Connexa announced the restoration of compliance with the Nasdaq minimum shareholder equity rule, igniting the stock’s remarkable ascent.
Minim, Inc. MINM enjoyed a significant 76.4% climb to $4.48 after David E. Lazar divulged a 51% active stake in the company.
Powell Industries, Inc. POWL surged 49% to $121.89 following the announcement of better-than-expected first-quarter financial results and an increase in its quarterly dividend.

Losers

Nuvve Holding Corp. NVVE shares tumbled 65.8% to $1.1401. Nuvve disclosed the pricing of a $9.6 million underwritten public offering of 4.8 million shares of common stock at $2.00 per share.
Remark Holdings, Inc. MARK witnessed a substantial 36% decline to $0.80, following a remarkable 264% surge on the previous day, driven by a tweet from the company’s X account suggesting an unconfirmed deal with Microsoft.
New York Community Bancorp, Inc. NYCB fell 34.5% to $6.80 after reporting worse-than-expected fourth-quarter financial results and a reduction in its quarterly dividend.

Market Downturn Shakes Investor Confidence

Revival Halted by Widespread Decline Across the Board

EVAX fell 24% to $4.3999.
TuSimple Holdings Inc. TSP declined 23.4% to $0.2220.
Rail Vision Ltd. RVSN fell 21.9% to $11.70.
American Superconductor Corporation AMSC shares declined 18.2% to $0.20 after the company announced a proposed public offering of common stock.
Extreme Networks, Inc. EXTR fell 15.8% to $14.02 after the company reported mixed second-quarter financial results and issued guidance.
Rockwell Automation, Inc. ROK declined 15.3% to $260.07 following weak earnings.
SMX (Security Matters) Public Limited Company SMX shares fell 14.2% to $0.4067 after jumping 47% on Tuesday.
Synaptogenix, Inc. SNPX fell 13% to $0.1864 after gaining 12% on Tuesday.
LSB Industries, Inc. LXU fell 9.5% to $7.51. UBS analyst Joshua Spector downgraded LSB Industries from Buy to Neutral and lowered the price target from $11 to $9.
MarketAxess Holdings Inc. MKTX fell 8.8% to $250.01 following weak sales.
Teradyne, Inc. TER shares declined 8.2% to $95.99 after the company posted downbeat fourth-quarter sales and issued weak forecast for the first quarter.
Oblong, Inc. OBLG declined 8.1% to $0.20 trading after gaining around 24% on Tuesday.
Solid Biosciences Inc. SLDB fell 7.5% to $7.47.
Alphabet Inc. GOOG GOOGL shares fell 6.2% to $143.60. Alphabet posted better-than-expected earnings results for its fourth quarter on Tuesday. However, Google’s advertising sales came in short of market estimates.
Heartland Financial USA, Inc. HTLF fell 5.5% to $36.54.
Group 1 Automotive, Inc. GPI fell 5.5% to $266.64 after the company reported mixed fourth-quarter financial results.
Novartis AG NVS fell around 3% to $104.69 following weak quarterly results.