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EMBC - Methode Electronics Posts Strong Sales Joins QuantumScape Ribbon Communications And Other Big Stocks Moving Higher On Thursday | Benzinga

home / articles / EMBC - Methode Electronics Posts Strong Sales Joins...

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  • July, 11 2024 02:10 PM
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U.S. stocks were mostly higher, with the Dow Jones index gaining around 100 points on Thursday.

Shares of Methode Electronics, Inc. (NYSE:MEI) rose sharply during Thursday's session after the company reported better-than-expected fourth-quarter sales results.

Methode Electronics reported a fourth-quarter fiscal 2024 net sales decline of 7.9% year-on-year to $277.30 million, beating the analyst consensus estimate of $264.04 million. Adjusted EPS loss of 23 cents missed the analyst consensus loss estimate of 20 cents, according to data from Benzinga Pro.

Methode Electronics shares surged 29.4% to $12.22 on Thursday.

Here are some other big stocks recording gains in today’s session.

  • QuantumScape Corporation (NYSE:QS) shares jumped 25% to $6.76 after the company announced it entered into an agreement with PowerCo to industrialize solid-state batteries.
  • Terns Pharmaceuticals, Inc. (NASDAQ:TERN) gained 18.2% to $8.63.
  • SoundHound AI, Inc. (NASDAQ:SOUN) ...

Full story available on Benzinga.com

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