Why NetEase Shares Are Trading Lower? Here Are Other Stocks Moving In Friday's Mid-Day Session


Shares of NetEase, Inc. NTES fell during Friday's session after the company reported worse-than-expected first-quarter revenue.

NetEase reported fiscal first-quarter 2024 revenue growth of 7.2% year-on-year to $3.72 billion (26.9 billion Chinese yuan), missing the analyst consensus estimate of $3.79 billion. The Chinese gaming player’s adjusted EPADS of $1.81 beat the analyst consensus estimate of $1.79, according to data from Benzinga Pro.

NetEase shares declined 4% to $91.02 on Friday.

Here are some other stocks moving in today’s mid-day session.


  • Akanda Corp. AKAN shares climbed 101% to $4.81. The international medical cannabis company implemented a 1-for-40 reverse stock split on its ordinary shares effective May 23, 2024, according to a recent exchange filing.
  • OneMedNet Corporation ONMD gained 75.2% to $2.58. OneMedNet shares jumped 208% on Thursday after the company highlighted a ‘five-fold expansion’ of its iRWD network and platform.
  • Innovative Eyewear, Inc. LUCY jumped 66% to $0.3096.
  • Netcapital Inc. NCPL rose 62.7% to $0.2846 after jumping 15% on Thursday.
  • Better Choice Company Inc. BTTR shares gained 44.4% to $5.94.
  • SCWorx Corp. WORX jumped 36% to $2.66.
  • Smart for Life, Inc. SMFL gained 31% to $3.62.
  • Innovative Solutions and Support, Inc. ISSC jumped 30.3% to $6.50.
  • Merus N.V. MRUS gained 30% to $57.26 after the company announced the publication of an abstract regarding petosemtamab in combination with pembrolizumab on the 2024 ASCO Annual Meeting website.
  • Alset Inc. AEI gained 25% to $0.66.
  • Blue Star Foods Corp. BSFC shares gained 23% to $3.0886. The company, earlier during the week, reported first-quarter financial results.
  • iPower Inc. IPW gained 21% to $1.8040
  • Cue Health Inc. HLTH gained 21% to $0.1143 after falling around 12% on Thursday. Cue Health, last week, announced that it voluntarily and temporarily paused sales and distribution of its EUA COVID-19 Test Cartridge.
  • LuxUrban Hotels Inc. LUXH rose 16.7% to $0.3499. LuxUrban Hotels announced closing of public offering of securities.
  • Alpha Technology Group Limited ATGL gained 16% to $4.20.
  • Biora Therapeutics, Inc. BIOR gained 12.6% to $0.56 after tumbling 28% on Thursday.
  • Magnite, Inc. MGNI gained 12.3% to $12.43. B of A Securities analyst Omar Dessouky upgraded Magnite from Neutral to Buy and raised the price target from $13 to $15.
  • Oklo Inc. OKLO surged 11.8% to $8.48 after the company announced a collaboration with Wyoming Hyperscale to supply 100 megawatts of clean power to a data center campus.
  • Deckers Outdoor Corporation DECK gained 11.6% to $1,009.99 after the company reported better-than-expected quarterly financial results.
  • Ross Stores, Inc. ROST rose 8.2% to $142.68 after the company reported better-than-expected earnings for its first quarter and increased its profit forecast for the year.


  • Verastem, Inc. VSTM shares fell 62.5% to $4.5650. The company announced that it initiated the rolling submission of a NDA to the FDA for accelerated approval of the combination of avutometinib and defactinib for adult patients with recurrent KRAS mutant low-grade serous ovarian cancer.
  • Sensei Biotherapeutics, Inc. SNSE fell 48.8% to $0.7502. Sensei Biotherapeutics presented clinical data from Phase 1 dose escalation study of SNS-101.
  • Genelux Corporation GNLX fell 43.7% to $2.5900 after the company reported pricing of approximately $27.5 million underwritten offering of common stock and accompanying warrants.
  • Zoomcar Holdings, Inc. ZCAR dipped 32.6% to $0.1733.
  • Ascent Solar Technologies, Inc. ASTI fell 30% to $0.15.
  • TriSalus Life Sciences, Inc. TLSI declined 28.7% to $6.80. TriSalus Life Sciences announced commencement of exchange offer and consent solicitation relating to warrants.
  • Solowin Holdings SWIN dipped 27.5% to $4.4915.
  • Pineapple Energy Inc. PEGY shares fell 23.7% to $0.1850 after jumping 61% on Thursday.
  • Exicure, Inc. XCUR dipped 21.1% to $0.3489. Exicure received Nasdaq delisting determination notice.
  • Summit Therapeutics Inc. SMMT shares fell 20.7% to $3.4250.
  • SRIVARU Holding Limited SVMH fell 19.2% to $0.1620.
  • Barnes & Noble Education, Inc. BNED shares dipped 18.2% to $0.6464 after the company reported preliminary FY24 consolidated revenue of approximately $1.567 billion.
  • Kronos Bio, Inc. KRON fell 17.7% to $0.7986.
  • Candel Therapeutics, Inc. CADL dipped 15.3% to $9.06.
  • Lilium N.V. LILM fell 15% to $0.9031 after the company announced pricing of $114 million in financing.
  • Akoustis Technologies, Inc. AKTS shares fell 12.8% to $0.1830 after dipping 33% on Thursday. Akoustis recently announced a $10 million registered direct offering priced at-the-market under Nasdaq rules.
  • Immunocore Holdings plc IMCR dipped 12.5% to $42.00. Needham analyst Gil Blum reiterated Immunocore with a Buy and maintained a price target of $81.
  • Workday, Inc. WDAY shares declined 12.3% to $228.83. Workday posted upbeat earnings for its first quarter. However, the company lowered its forward guidance and now sees second-quarter subscription revenue of $1.895 billion and fiscal-year subscription revenue of between $7.7 billion and $7.725 billion.
  • Gyre Therapeutics, Inc. GYRE fell 11.5% to $11.16.
  • Roadzen Inc RDZN fell 8.1% to $3.54.
  • Murano Global Investments Plc MRNO dipped 7.6% to $11.06.
  • Intuit Inc. INTU shares fell 7.5% to $612.27. Intuit posted better-than-expected earnings for its third quarter and boosted its full-year outlook. However, the company issued weak earnings guidance for the current quarter.
  • Endava plc DAVA fell 5.3% to $29.34. Needham analyst Mayank Tandon maintained Endava with a Buy and lowered the price target from $50 to $42, while TD Cowen analyst Bryan Bergin cut the price target from $46 to $42.
  • Now Read This: Jim Cramer Says This Basic Materials Stock Is ‘Too Dicey,’ Shares His Take On Arista Networks

Market News and Data brought to you by Benzinga APIs
Posted In: NewsIntraday UpdateMarketsMoversTrading IdeasGainersLosersMid-Day Movers
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!