Why UPS Shares Dropped by 8% and Other Stocks Reacted Strongly Why UPS Shares Dropped by 8% and Other Stocks Reacted Strongly

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Shares of United Parcel Service, Inc. UPS took a beating during Tuesday’s session after the company reported a steeper-than-expected decline in fourth-quarter sales and issued a cautious FY24 sales outlook.

UPS saw its fourth-quarter fiscal 2023 revenue drop by 7.8% year-over-year to $24.92 billion, missing the consensus of $25.43 billion. The adjusted EPS stood at $2.47, down from $3.62 in Q4 2022, aligning with the consensus.

This sent United Parcel Service shares tumbling by 8.3% to $145.04 on Tuesday.

Here’s a roundup of other stocks on the move in today’s mid-day session:

Big Winners

  • Agape ATP Corporation ATPC delivered a stunning 79% surge to $0.9120.
  • Pixelworks, Inc. PXLW clicked up by 56.8% to $2.3209 after the company announced a multi-year agreement with Walt Disney Studios.

Plunging Losers

  • Baijiayun Group Ltd RTC saw a sharp 66.4% dive to $2.50.
  • Meiwu Technology Company Limited WNW tanked 49% to $3.93.





Market Bloodbath Sees Major Losses for Nasdaq and NYSE Stocks

Market Bloodbath Sees Major Losses for Nasdaq and NYSE Stocks

REVB Shares Tumble

Shares of REVB plummeted a staggering 28.4% to $9.30, wiping out gains made on Monday.

Calix, Inc. Takes a Hit

Calix, Inc. wasn’t spared either, declining by 26.6% to $32.56 after issuing first-quarter adjusted EPS and revenue guidance below estimates.

Aileron Therapeutics, Inc. Sees Sharp Decline

Aileron Therapeutics, Inc. experienced a significant drop of 25.4% to $4.53.

CNS Pharmaceuticals, Inc. Registers a Sharp Fall

CNS Pharmaceuticals, Inc. shares fell by 24.5% to $0.2504 after the company reported pricing of $4.0 million public offering.

IM Cannabis Corp. Plummets

IM Cannabis Corp. took a nosedive, dropping 22% to $0.2520.

Solowin Holdings Suffers a Blow

Solowin Holdings saw a substantial decline of 21.7% to $5.05.

Jianpu Technology Inc. Hit Hard

Jianpu Technology Inc. experienced a severe downturn, declining by 21.2% to $0.3785.

Addex Therapeutics Ltd’s Steep Drop

Addex Therapeutics Ltd tumbled by 21.1% to $10.50 after gaining 7% on Monday.

Adtalem Global Education Inc. Takes a Beating

Adtalem Global Education Inc. dipped by 20.5% to $46.60. CNBC reported that short seller Fahmi Quadir has taken a short position in the stock.

Richtech Robotics Inc. Plunges

Richtech Robotics Inc. fell sharply by 19.1% to $2.2640.

Motus GI Holdings, Inc. Dips Significantly

Motus GI Holdings, Inc. registered a significant fall of 17% to $0.7751. This came after the company published results from European study of second generation Pure-Vu System in improving visualization for colonoscopy in patients with a history of poor bowel preparation.

Malibu Boats, Inc. Takes a Hit

Malibu Boats, Inc. fell by 15.5% to $43.08 after the company reported mixed second-quarter financial results.

AEON Biopharma, Inc. Plummets

AEON Biopharma, Inc. suffered a sharp decline of 15.5% to $7.20.

Weatherford International plc Registers a Significant Decline

Weatherford International plc saw a notable decline of 14.7% to $85.00.

OneMedNet Corporation’s Substantial Drop

OneMedNet Corporation shares fell by 13.9% to $1.18 after jumping 156% on Monday.

Borr Drilling Limited Takes a Hit

Borr Drilling Limited experienced a decline of 11.2% to $6.56.

Prothena Corporation plc’s Sharp Fall

Prothena Corporation plc fell sharply by 9.8% to $30.43. B of A Securities analyst Tazeen Ahmad downgraded Prothena from Buy to Neutral and lowered the price target from $68 to $38.

Schlumberger Limited Suffers Sharp Decline

Schlumberger Limited saw a sharp decline of 9.4% to $48.18. Schlumberger Chief Sustainability Officer Katharina Beumelburg sold a total of 8,000 shares at an average price of $52.63.

Infobird Co., Ltd Sinks Significantly

Infobird Co., Ltd registered a significant decline of 9.4% to $0.6430 after gaining around 35% on Monday.

Tidewater Inc. Takes a Hit

Tidewater Inc. fell by 7.1% to $68.21.

Whirlpool Corporation Sees Significant Decline

Whirlpool Corporation witnessed a significant decline of 6.7% to $109.81 after the company issued guidance for 2024 ongoing EPS and net sales below estimates.

NOV Inc. Registers a Substantial Drop

NOV Inc. experienced a substantial decline of 6.5% to $19.64.

Johnson Controls International plc Takes a Hit

Johnson Controls International plc fell by 4.7% to $53.99 after the company reported mixed first-quarter results and cut its FY24 EPS guidance.

A. O. Smith Corporation Sees Decline

A. O. Smith Corporation experienced a decline of 4.4% to $77.76 following quarterly results.



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