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