Methode Electronics, Brookfield Renewable Partners And Other Big Stocks Moving Lower On Tuesday


U.S. stocks traded higher, with the Dow Jones rising around 100 points on Tuesday. Here are some big stocks recording losses in today’s session.

  • Methode Electronics, Inc. MEI shares dipped 15.7% to $37.98 after the company reported worse-than-expected preliminary fourth-quarter results. The company's outlook for FY24 lagged consensus.
  • Beneficient BENF fell 13% to $5.77.
  • Cibus, Inc. CBUS declined 10.6% to $20.74.
  • Chijet Motor Company, Inc. CJET fell 9.4% to $3.5880.
  • Super Micro Computer, Inc. SMCI shares declined 8.6% to $236.29.
  • Compass, Inc. COMP dropped 7.7% to $3.3050.
  • Landsea Homes Corporation LSEA shares declined 7.2% to $7.78 after its largest shareholder priced a secondary stock offering of 2.95 million shares at $7.50 per share. Landsea Homes will purchase 443,478 shares from the offering.
  • AvePoint, Inc. AVPT fell 6.4% to $6.18.
  • Brookfield Renewable Partners L.P. BEP fell 5.3% to $29.95. Duke Energy reached an agreement to sell its unregulated utility-scale Commercial Renewables business to Brookfield Renewable Partners at an enterprise value of approximately $2.8 billion. Brookfield Renewable also reported $650 million equity offering allocations.
  • HubSpot, Inc. HUBS dropped 4.1% to $500.14.
  • Biogen Inc. BIIB fell 3.4% to $302.79. Experts in Europe considering the potential use of a new Alzheimer's disease drug developed by Eisai Co and Biogen say Leqembi (lecanemab)'s ability to slow cognitive decline may not outweigh its health risks or justify the strain it would place on limited healthcare resources.


Read More: Dow Surges 100 Points; US Inflation Rate Drops In May

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