Herbalife Ltd. saw its shares plummet around 36% on Thursday in the aftermath of declaring its latest quarterly earnings. The company posted adjusted earnings of 28 cents per share, missing market estimates of 39 cents per share. Furthermore, Herbalife’s quarterly sales came in at $1.22 billion versus expectations of $1.19 billion.
The sharp drop saw Herbalife shares dip to $7.55 on Thursday.
Meanwhile, let’s take a look at how other stocks performed in today’s mid-day session.
Positive Momentum Elsewhere
-
JX Luxventure Limited: After posting strong H1 results, shares jumped an impressive 377% to $6.21.
-
Dunxin Financial Holdings Limited: The company’s stocks surged 204% to $1.11, following a 5% gain on Wednesday.
-
China Natural Resources, Inc.: Witnessing a jump of 143% to $2.68, the company’s stocks had already gained around 10% on Wednesday.
-
The Children’s Place, Inc.: Stock prices rose by 101% to $29.23.
-
Nano-X Imaging Ltd.: Shares climbed 54.7% to $9.84 after Nvidia reported holding a 59,632 share stake in the company.
-
RiskOn International, Inc.: With a gain of 54% to $0.1710, stocks witnessed positive movement.
-
SoundHound AI, Inc.: Share prices surged 53% to $3.4499, propelled by BlackRock’s 5.6% passive stake in the company. The filing from Nvidia, disclosing positions in several companies, also contributed to the positive momentum.
-
Orgenesis Inc.: Climbing 30.2% to $0.4362, the company saw a significant increase in its stock prices after 10% owner Jacob Safier acquired a substantial number of shares.
-
Pegasystems Inc.: Stocks jumped 27.8% to $64.84 following a strong fourth-quarter performance and bullish FY24 EPS and revenue guidance.
-
JFrog Ltd.: The company’s stocks gained 27% to $47.09 after it reported better-than-expected fourth-quarter financial results and issued an upbeat first-quarter guidance.
-
Infobird Co., Ltd: Share prices rose 26% to $1.1800.
The day witnessed a series of remarkable leaps, with various companies experiencing significant boosts. While Herbalife may be feeling the heat, other stocks seem to be reveling in the sunshine of investor confidence. Whether the positive momentum will be sustained or melt away like a popsicle on a hot summer day remains to be seen.
Market Movers: INFA Jumps 12.6%
Winners
- INFA surged 12.6% to $33.91 after unveiling robust fourth-quarter financial results.
- Patterson-UTI Energy, Inc. PTEN climbed 12.3% to $11.61 on the back of strong sales.
- Reliance Steel & Aluminum Co. RS saw a 10.4% uptick to $325.15 after reporting earnings exceeding estimates and issuing above-consensus first-quarter FY24 adjusted EPS.
- EPAM Systems, Inc. EPAM gained 10.3% to $288.44 post its announcement of fourth-quarter financial results and issuance of first-quarter revenue guidance above estimates.
- Cognex Corporation CGNX surged 9.8% to $39.70 following positive earnings.
- SunPower Corporation SPWR witnessed an 8.8% jump to $4.64 after securing $175 million in new capital financing from TotalEnergies and Global Infrastructure Partners, despite fourth-quarter financial results falling short of estimates.
- Lyft, Inc. LYFT rose 8.6% to $17.82 following its recent fourth-quarter financial results and guidance release.
Losers
- Treasure Global Inc. TGL plummeted 45.7% to $0.0862 after second-quarter results disappointed investors.
- Beamr Imaging Ltd. BMR nosedived 44% to $9.00.
- Earlyworks Co., Ltd ELWS shares tumbled 39.1% to $0.7979.
- Upexi, Inc. UPXI suffered a 30.4% decline to $0.96 after weak quarterly results.
- Telomir Pharmaceuticals, Inc. TELO shares fell 30.1% to $8.31, retracing approximately 70% of the gains made on Wednesday.
- Fastly, Inc. FSLY shares tumbled 29.2% to $16.67 following mixed fourth-quarter financial results.
- Cineverse Corp. CNVS shares fell 27.2% to $1.7120 after the company reported underwhelming third-quarter financial results.
- Aurinia Pharmaceuticals Inc. AUPH declined 26.1% to $5.89 after posting mixed fourth-quarter financial results and failing to secure a buyer despite conducting a strategic business review.
- Clean Energy Technologies, Inc. CETY dipped 26% to $0.7989.
- Renalytix Plc RNLX fell 25.4% to $0.9001 after posting weak quarterly sales.
