Adient Stock (NYSE:ADNT), Trade Ideas

Adient

Adient began trading Oct. 31, 2016, when Johnson Controls spun off its automotive experience segment into this new company. Adient is the leading seating supplier to the industry with about one third of the global market. Its share in China is now nearly 20%, down from about 45%, following the sale of its main joint venture there at the end of fiscal 2021. Unconsolidated seating revenue from joint ventures after factoring in the sale was about $3.8 billion in fiscal 2023 and consolidated China revenue was $1.4 billion. The company is headquartered in Ireland but has corporate offices in the Detroit area. Fiscal 2023 (Sept. 30 year-end) consolidated revenue, which excludes joint venture sales, was $15.4 billion.

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Adient has put forward restructuring plans in Europe to reduce operating, administrative and engineering costs. The plan primarily consists of workforce reductions and the transfer of work to countries with lower labor costs.

Automotive Seating Maker Adient To Slash Jobs In Europe

Earnings

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Adient&#39;s latest financial numbers provided showcase a remarkable resilience in the face of industry-wide challenges, with a steady revenue projection and a slight increase in Adjusted EBITDA.

Why Automotive Seating Company Adient Shares Are Gaining Today

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	Heart Test Laboratories, Inc. (NASDAQ: HSCS) shares climbed 96% to $0.2921 after falling over 7% on Tuesday.


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Adient PLC

Adient PLC&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADNT#NYSE">ADNT</a>) has put forward restructuring plans in&nbsp;<a target="_blank" href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1670541/000167054124000065/adnt-20240331.htm" rel="noreferrer noopener">Europe&nbsp;</a>to reduce operating, administrative&nbsp;and&nbsp;engineering costs.&nbsp;
The plan primarily consists of workforce reductions and the transfer of work to countries with lower labor costs.
This move is in response to the changes in the European automotive market and to ensure the company's competitive cost structure by slashing labor costs and increasing efficiencies.
Adient expects a restructuring charge of approximately $125 million in the second quarter of fiscal year 2024, entirely related to termination benefits in Europe.
The restructuring actions mentioned will occur in fiscal 2025 and 2026 and&nbsp;are expected&nbsp;to be completed by fiscal 2027.
The restructuring activity&nbsp;is expected&nbsp;to result in&nbsp;the annual&nbsp;operating cost reduction of $60 million.
As of September 2023, Adient had 70,000 employees worldwide, with about 42%&nbsp;of them&nbsp;working in the Europe, Middle East and Africa (EMEA) region, reported Reuters.
Strikes by the United Automotive Workers (UAW) affected production volumes,&nbsp;affecting&nbsp;sales in the December quarter.
Adient supplies seats to automotive majors, including&nbsp;Ford Motor Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>),&nbsp;General Motors Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>),&nbsp;Stellantis N.V.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>),&nbsp;Volkswagen AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>) and&nbsp;Renault SA&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/RNSDF#OTC">RNSDF</a>).
Price Action: ADNT shares closed higher by 0.55% at $28.99 on Monday.
Photo by Shuttershock

JP Morgan analyst Ryan Brinkman maintains Adient (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADNT#NYSE">ADNT</a>) with a Neutral and lowers the price target from $40 to $37.

Price Target

Analyst Ratings

JP Morgan Maintains Neutral on Adient, Lowers Price Target to $37

The plans were initiated by Adient&rsquo;s management as of March 31, 2024, and the affected employees were notified earlier today.&nbsp;Adient currently expects to record a restructuring charge of approximately $125 million in the second quarter of fiscal year 2024, almost entirely related to termination benefits in Europe. Adient currently estimates that this charge will result in future cash expenditures of a similar amount.&nbsp;When fully complete, Adient anticipates approximately $60 million in reduced annual operating cost from this activity, of which approximately 80% will result in net savings.

On April 22, 2024, Adient Reveals Restructuring Plans In Europe To Reduce Costs, Primarily Through Workforce Reductions - Filing

In the latest quarter, 5 analysts provided ratings for Adient (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADNT#NYSE">ADNT</a>), showcasing a mix of bullish and bearish perspectives.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Adient and provided 12-month price targets. The average target is $41.2, accompanied by a high estimate of $46.00 and a low estimate of $37.00. A decline of 6.36% from the prior average price target is evident in the current average. 
<img src="https://www.benzinga.com/files/images/story/2024/1712779218_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive Adient. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Dan Levy</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$37.00</td>
<td>$41.00</td>
</tr>
<tr>
<td>John Murphy</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$46.00</td>
<td>$50.00</td>
</tr>
<tr>
<td>Ryan Brinkman</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$40.00</td>
<td>$41.00</td>
</tr>
<tr>
<td>Colin Langan</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$40.00</td>
<td>$41.00</td>
</tr>
<tr>
<td>Dan Levy</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$43.00</td>
<td>$47.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Adient. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Adient compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Adient's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
To gain a panoramic view of Adient's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/ADNT/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Adient analyst ratings.</a>
<h2>Discovering Adient: A Closer Look</h2>
Adient began trading Oct. 31, 2016, when Johnson Controls spun off its automotive experience segment into this new company. Adient is the leading seating supplier to the industry with about one third of the global market. Its share in China is now nearly 20%, down from about 45%, following the sale of its main joint venture there at the end of fiscal 2021. Unconsolidated seating revenue from joint ventures after factoring in the sale was about $3.8 billion in fiscal 2023 and consolidated China revenue was $1.4 billion. The company is headquartered in Ireland but has corporate offices in the Detroit area. Fiscal 2023 (Sept. 30 year-end) consolidated revenue, which excludes joint venture sales, was $15.4 billion.
<h3>Adient: Financial Performance Dissected</h3>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Decline in Revenue: Over the 3 months period, Adient faced challenges, resulting in a decline of approximately -1.05% in revenue growth as of 31 December, 2023. This signifies a reduction in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Consumer Discretionary sector.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of 0.55%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): Adient's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of 0.89%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of 0.21%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: Adient's debt-to-equity ratio is notably higher than the industry average. With a ratio of 1.11, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<h2>What Are Analyst Ratings?</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Navigating 5 Analyst Ratings For Adient

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Shares of companies within the auto and auto components sector are trading lower amid overall market weakness following hotter-than-expected March inflation data.

Barclays analyst Dan Levy downgrades Adient (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADNT#NYSE">ADNT</a>) from Overweight to Equal-Weight and lowers the price target from $41 to $37.

Downgrades

Barclays Downgrades Adient to Equal-Weight, Lowers Price Target to $37

B of A Securities analyst John Murphy maintains Adient (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADNT#NYSE">ADNT</a>) with a Buy and lowers the price target from $50 to $46.

B of A Securities Maintains Buy on Adient, Lowers Price Target to $46

JP Morgan analyst Ryan Brinkman maintains Adient (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADNT#NYSE">ADNT</a>) with a Neutral and lowers the price target from $41 to $40.

JP Morgan Maintains Neutral on Adient, Lowers Price Target to $40

Wells Fargo analyst Colin Langan maintains Adient (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADNT#NYSE">ADNT</a>) with a Overweight and lowers the price target from $41 to $40.

Wells Fargo Maintains Overweight on Adient, Lowers Price Target to $40

Adient Reiterates FY24 Sales Outlook Of $15.4B-$15.5B Vs. $15.59B Estimate; Forecasts Adj. EBITDA Of $985M In FY24

Adient Q1 Adj. EPS $0.31 Misses $0.47 Estimate, Sales $3.660B Miss $3.707B Estimate

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Earnings Scheduled For February 7, 2024

Adient (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADNT#NYSE">ADNT</a>) is set to give its latest quarterly earnings report on Wednesday, 2024-02-07. Here's what investors need to know before the announcement.
Analysts estimate that Adient will report an earnings per share (EPS) of $0.49. 
Adient bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company missed EPS by $0.08, which was followed by a 7.05% drop in the share price the next day.
Here's a look at Adient's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.59</td>
<td>0.39</td>
<td>0.43</td>
<td>0.38</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.51</td>
<td>0.98</td>
<td>0.32</td>
<td>0.34</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-7.05%</td>
<td>2.74%</td>
<td>-1.49%</td>
<td>-3.23%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1707231695_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Adient were trading at $34.94 as of February 05. Over the last 52-week period, shares are down 19.11%. Given that these returns are generally negative, long-term shareholders are likely a little upset going into this earnings release. 
<a href="https://www.benzinga.com/quote/ADNT/earnings">To track all earnings releases for Adient visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Outlook For Adient

Barclays analyst Dan Levy maintains Adient (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADNT#NYSE">ADNT</a>) with a Overweight and lowers the price target from $47 to $43.

Barclays Maintains Overweight on Adient, Lowers Price Target to $43

Adient Plc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADNT#NYSE">ADNT</a>) reported its unaudited preliminary&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/01/n36714797/adient-announces-preliminary-q1-fiscal-2024-results" rel="noreferrer noopener">financial performance for the quarter ending December 31, 2023</a>.
The automotive seating company forecasts its first-quarter 2024 revenue to be approximately $3.7 billion, maintaining a steady level compared to 2023&#8217;s figures and slightly under the analyst consensus of $3.72 billion.
For the first quarter of 2024, Adient anticipates an Adjusted EBITDA of around $215 million, a slight increase from $212 million in the same quarter of the previous year.
Jerome Dorlack, Adient&#8217;s President and CEO, commented on the results, &#8220;Building on the momentum established in 2023, Adient&#8217;s preliminary Q1 results demonstrate we are off to a solid start in FY24 despite the UAW strike-related production stoppages at certain of our customers in the Americas.&#8221;
&#8220;We continue to expect improved earnings and margin in FY24 vs. FY23,&#8221; Dorlack added.
Adient plans to discuss its first-quarter 2024 financial&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">results on February 7, 2024.</a>
Price Action: ADNT shares are trading higher by 5.06% at $34.81 on the last check Monday.

Adient Sees Preliminary Q1 2024 Revenue ~$3.7B Vs $3.72B Est.

Analysts have provided the following ratings for Adient (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADNT#NYSE">ADNT</a>) within the last quarter: 
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
These 4 analysts have an average price target of $39.75 versus the current price of Adient at $31.32, implying upside.
Below is a summary of how these 4 analysts rated Adient over the past 3 months. The greater the number of bullish ratings, the more positive analysts are on the stock and the greater the number of bearish ratings, the more negative analysts are on the stock
<img src="https://www.benzinga.com/files/images/story/2023/1699981209_0.png" alt="price target chart" />
This current average represents a 8.26% decrease from the previous average price target of $43.33. 
<a href="https://www.benzinga.com/quote/ADNT/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Adient analyst ratings.</a>
<h1>What Are Analyst Ratings?</h1>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Where Adient Stands With Analysts

Morgan Stanley analyst Adam Jonas maintains Adient (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADNT#NYSE">ADNT</a>) with a Underweight and lowers the price target from $38 to $35.

Morgan Stanley Maintains Underweight on Adient, Lowers Price Target to $35

Wells Fargo analyst Colin Langan maintains Adient (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADNT#NYSE">ADNT</a>) with a Overweight and lowers the price target from $49 to $41.

Wells Fargo Maintains Overweight on Adient, Lowers Price Target to $41

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<li>GoPro, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gpro#NASDAQ">GPRO</a>) rose 16.4% to $3.12 after the company reported third-quarter financial results.</li>
<li>Wearable Devices Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wlds#NASDAQ">WLDS</a>) gained 16.1% to $1.08.</li>
<li>Nuvei Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvei#NASDAQ">NVEI</a>) climbed 15.4% to $18.16 following strong sales.</li>
<li>Society Pass Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sopa#NASDAQ">SOPA</a>) rose 15.3% to $0.3399. NusaTrip, the online travel arm of Society Pass, disclosed a strategic partnership with China-based Guangzhou Junwei International Travel Service Co. Ltd. to enhance travel <a href="https://www.benzinga.com/money/best-options-to-buy-this-week/">options</a> and experience for customers in both SEA and the People&rsquo;s Republic of China.</li>
<li>National CineMedia, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ncmi#NASDAQ">NCMI</a>) rose 15.2% to $4.48 following third-quarter results.</li>
<li>Turtle Beach Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hear#NASDAQ">HEAR</a>) climbed 15.1% to $10.02 following upbeat quarterly results.</li>
<li>James Hardie Industries plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jhx#NYSE">JHX</a>) climbed 15.1% to $30.53 after the company reported a year-over-year increase in second-quarter financial results.</li>
<li>Clear Secure, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/you#NYSE">YOU</a>) surged 14.4% to $20.28 following upbeat results.</li>
<li>Enovix Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/envx#NASDAQ">ENVX</a>) gained 14.3% to $11.70 after the company reported better-than-expected third-quarter financial results.</li>
<li>Target Hospitality Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/th#NASDAQ">TH</a>) climbed 14% to $14.32 following third-quarter results.</li>
<li>Kyndryl Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kd#NYSE">KD</a>) surged 14% to $17.69 following strong results.</li>
<li>Oscar Health, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oscr#NYSE">OSCR</a>) rose 13.4% to $7.51.</li>
<li>Porch Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prch#NASDAQ">PRCH</a>) shares gained 13.2% to $0.7989 after the company reported better-than-expected third-quarter sales results.</li>
<li>Marqeta, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mq#NASDAQ">MQ</a>) climbed 12.8% to $6.03 following strong sales.</li>
<li>Evolus, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eols#NASDAQ">EOLS</a>) shares rose 12.8% to $9.11 after the company reported better-than-expected third-quarter sales.</li>
<li>Lumos Pharma, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lumo#NASDAQ">LUMO</a>) shares rose 9.9% to $4.00 after the company reported a narrower-than-expected third-quarter loss.</li>
<li>Upwork Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/upwk#NASDAQ">UPWK</a>) shares gained 4.7% to $12.59 after the company reported better-than-expected third-quarter financial results and announced a $100 million share buyback program.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>DURECT Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/drrx#NASDAQ">DRRX</a>) shares fell 75.5% to $0.6326. Durect&#39;s topline results from Phase 2B AHFIRM trial of larsucosterol in alcohol-associated hepatitis did not achieve statistical significance for either dose on the primary endpoint of mortality or transplant at 90 days.</li>
<li>FTC Solar, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ftci#NASDAQ">FTCI</a>) fell 62.8% to $0.4429 after the company reported third-quarter earnings. The company disclosed the departure of CEO Sean Hunkler and CFO Phelps Morris from their roles in December 2023.</li>
<li>Mobiv Acquisition Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mobv#NASDAQ">MOBV</a>) shares fell 49.3% to $4.50. Mobiv Acquisition announced extension of deadline to complete business combination to Dec. 8, 2023.</li>
<li>Establishment Labs Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/esta#NASDAQ">ESTA</a>) dipped 44% to $18.16 after the company reported worse-than-expected third-quarter financial results.</li>
<li>Expensify, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/exfy#NASDAQ">EXFY</a>) fell 39.4% to $1.7550 following weak quarterly results.</li>
<li>Urban One, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/uone#NASDAQ">UONE</a>) declined 37% to $3.5999.</li>
<li>RiskOn International, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/roi#NASDAQ">ROI</a>) dipped 30% to $0.3884.</li>
<li>Arteris, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aip#NASDAQ">AIP</a>) fell 28.8% to $4.7436 as the company issued weak sales forecast.</li>
<li>Jaguar Global Growth Corporation I (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jggc#NASDAQ">JGGC</a>) fell 28.4% to $6.80.</li>
<li>Sleep Number Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/snbr#NASDAQ">SNBR</a>) shares fell 28.2% to $11.51 after the company reported third-quarter financial results.</li>
<li>Flywire Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/flyw#NASDAQ">FLYW</a>) dipped 28% to $19.93 after the company reported Q3 financial results.</li>
<li>Collective Audience, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/caud#NASDAQ">CAUD</a>) fell 27.4% to $2.76.</li>
<li>LQR House Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lqr#NASDAQ">LQR</a>) shares fell 25.5% to $0.0841 after the company announced the acquisition of <a href="http://www.cwspirits.com" title="www.cwspirits.com">www.cwspirits.com</a>, an alcohol e-commerce platform, granting access to a dedicated customer base of over 125,000.</li>
<li>Upstart Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/upst#NASDAQ">UPST</a>) shares fell 25% to $22.04 after the company reported worse-than-expected third-quarter financial results.</li>
<li>Panbela Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pbla#NASDAQ">PBLA</a>) fell 24.7% to $0.7150.</li>
<li>Custom Truck One Source, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ctos#NYSE">CTOS</a>) declined 23.5% to $4.67 following third-quarter earnings.</li>
<li>Warby Parker Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wrby#NYSE">WRBY</a>) fell 22.5% to $11.07 following third-quarter earnings.</li>
<li>Carbon Revolution Public Limited Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crev#NASDAQ">CREV</a>) fell 22.4% to $70.30.</li>
<li>Magic Software Enterprises Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mgic#NASDAQ">MGIC</a>) fell 22.2% to $8.19 after the company lowered its FY23 sales guidance.</li>
<li>Maravai LifeSciences Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrvi#NASDAQ">MRVI</a>) dropped 22.2% to $5.35 after the company reported worse-than-expected third-quarter results and issued weak guidance.</li>
<li>B. Riley Financial, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rily#NASDAQ">RILY</a>) fell 20.7% to $27.57 following third-quarter results.</li>
<li>Vroom, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vrm#NASDAQ">VRM</a>) fell 20.4% to $0.86 following weak sales.</li>
<li>Array Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/arry#NASDAQ">ARRY</a>) declined 20.3% to $14.51 following weak quarterly sales.</li>
<li>Nerdy, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nrdy#NYSE">NRDY</a>) shares fell 19.4% to $2.50 after the company issued weak revenue forecast.</li>
<li>Nextdoor Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kind#NYSE">KIND</a>) dipped 17.8% to $1.4950 following third-quarter results.</li>
<li>Tharimmune, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/thar#NASDAQ">THAR</a>) fell 17.7% to $0.2140. Tharimmune shares jumped 65% on Tuesday after the company announced the execution of an exclusive worldwide licensing agreement with Avior to develop, market and commercialize a clinical-stage asset, AV104.</li>
<li>Toast, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tost#NYSE">TOST</a>) shares fell 16.9% to $14.33 after the company reported third-quarter financial results.</li>
<li>Inspire Medical Systems, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/insp#NYSE">INSP</a>) declined 16.6% to $134.85 after the company reported third-quarter financial results.</li>
<li>Warner Bros. Discovery, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wbd#NASDAQ">WBD</a>) declined 16.4% to $9.70 following downbeat quarterly results.</li>
<li>Robinhood Markets, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hood#NASDAQ">HOOD</a>) fell 15% to $8.30 following third-quarter results.</li>
<li>PlayAGS, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ags#NYSE">AGS</a>) fell 14.5% to $7.07 following third-quarter results.</li>
<li>Mercury Systems, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrcy#NASDAQ">MRCY</a>) declined 12.1% to $32.35 after the company reported worse-than-expected first-quarter financial results.</li>
<li>PureCycle Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pct#NASDAQ">PCT</a>) dipped 12% to $3.8399 following third-quarter results.</li>
<li>Adient plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/adnt#NYSE">ADNT</a>) fell 11.3% to $31.56 after the company reported worse-than-expected quarterly financial results.</li>
<li>Leju Holdings Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/leju#NYSE">LEJU</a>) shares fell 11.1% to $1.1463 after jumping 29% on Tuesday.</li>
<li>Shoals Technologies Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/shls#NASDAQ">SHLS</a>) dipped 10.9% to $14.46 after the company reported worse-than-expected quarterly revenue results and issued FY23 revenue guidance below estimates.</li>
<li>Coupang, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cpng#NYSE">CPNG</a>) declined 9.9% to $15.39 after the company reported third-quarter financial results.</li>
<li>Spirit AeroSystems Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spr#NYSE">SPR</a>) fell 9.3% to $22.33 as the company reported a proposed public offering of Class A common stock. The company also announced a proposed private offering of exchangeable senior notes.</li>
<li>eBay Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ebay#NASDAQ">EBAY</a>) declined 5.1% to $38.69. eBay posted upbeat earnings for its third quarter. However, the company said it sees fourth-quarter earnings of $1.00 to $1.05 per share on revenue of $2.47 billion to $2.53 billion.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/earnings/23/11/35676584/disney-gears-up-for-q4-print-these-most-accurate-analysts-revise-forecasts-ahead-of-earnings-call"> Disney Gears Up For Q4 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a>

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Adient PLC (ADNT) stock is down -16.41% over the last 12 months, and the average rating from Wall Street analysts is a Buy. InvestorsObserverâ€&#x2122;s proprietary ranking system, gives ADNT stock a score of  34 out of a possible 100. That rank is mainly influenced by a short-term technical score of 15. ADNT's rank also includes a

Adient PLC (ADNT) Stock Is Down -3.91% This Week: Buy, Hold, or Sell?

Wells Fargo analyst Colin Langan maintained a Buy rating on Adient (ADNT – Research Report) today and set a price target of $38.00. The company's s...

Wells Fargo Sticks to Its Buy Rating for Adient (ADNT)

In a report released today, Colin Langan from Wells Fargo maintained a Buy rating on Adient (ADNT – Research Report), with a price target of $38.00...

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Adient (NYSE:<a href="https://investorplace.com/stock-quotes/adnt-stock-quote/">ADNT</a>) layoffs are a hot topic on Monday after the seating systems company announced plans to <a href="https://www.reuters.com/business/autos-transportation/auto-supplier-adient-cuts-jobs-transfers-roles-europe-shave-costs-2024-04-22/">cut jobs overseas</a>.



The exact number of jobs being cut is still unknown but the company is looking to move some positions out of Europe. It instead wants to shift these jobs to countries with lower labor costs to reduce its expenses.



Adient also hasn&rsquo;t said what countries it will be moving these jobs to. What we do know is this decision comes after it posted Q1 results with lackluster sales. This has the company seeking to address that issue with its layoffs and job shifts.



We do know how much Adient expects to pay connected to the layoffs. The company is figuring for $125 million in restructuring charges while expecting to save $60 million per year from the changes starting in 2027.



<h2>Adient Joins Growing Layoffs List</h2>



Adient is far from the only company that has announced layoffs recently. Many corporations are reducing headcounts to combat a tough economy. This comes as inflation has continued to weigh on both consumers and businesses.



ADNT stock is up slightly as of Monday morning but is down 20.9% since the start of the year.



There are even more stock market stories that traders need to know about below!



We have all of the hottest stock market stories worth reading about on Monday! A few examples include Nike&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/nke-stock-quote/">NKE</a>) layoffs, Salesforce&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/crm-stock-quote/">CRM</a>) stock falling and more. All of this news is ready to go at the following links!



<h2>More Monday Stock Market News</h2>



<ul><li><a href="https://investorplace.com/2024/04/nike-layoffs-2024-what-to-know-about-the-latest-nike-job-cuts/">Nike Layoffs 2024: What to Know About the Latest Nike Job Cuts</a></li>



<li><a href="https://investorplace.com/2024/04/investors-cheer-salesforce-crm-stock-as-informatica-deal-deflates/">Investors Cheer Salesforce (CRM) Stock as Informatica Deal Deflates</a></li>



<li><a href="https://investorplace.com/2024/04/tsla-stock-alert-tesla-plunges-on-another-round-of-ev-price-cuts/">TSLA Stock Alert: Tesla Plunges on Another Round of EV Price Cuts</a></li>
</ul>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/04/adient-layoffs-2024-what-to-know-about-the-latest-adient-job-cuts/">Adient Layoffs 2024: What to Know About the Latest Adient Job Cuts</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Adient Layoffs 2024: What to Know About the Latest Adient Job Cuts

Adient to cut European workforce, move jobs to countries with cheaper labor

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Li Auto (NASDAQ:<a href="https://investorplace.com/stock-quotes/li-stock-quote/">LI</a>) stock is falling on Monday after the electric vehicle (EV) company announced plans to <a href="https://finance.yahoo.com/news/li-auto-inc-launches-li-132000218.html">reduce the price of its products</a> amid stiff competition in the EV space.



Li Auto is reducing the price on four of its five models in a bid to better compete with rival EV companies. It&rsquo;s also offering refunds for customers who bought those models earlier this year at their higher prices.



The price cuts have Li Auto dropping the purchase sticker for its&nbsp;L7, Li L8, Li L9 and Li MEGA models. This has it reducing the prices on these by 5%, which has the cuts ranging from $2,485 to $4,142.



<h2>LI Stock: Li Auto Launches New EV</h2>



Li Auto also <a href="https://finance.yahoo.com/news/li-auto-inc-launches-li-132000218.html">released a new EV</a> last week before announcing these price cuts. This is its Li L6. The five-seat premium family SUV isn&rsquo;t included in the latest round of price cuts announced by the EV maker.



News of the price cuts are weighing on LI stock today. That has shares down 5.8% as of Monday morning. Alongside this is some 6 million shares of the stock changing hands. That&rsquo;s still below its daily average trading volume of about 8 million shares but is closing in fast.



Investors who want even more of the most recent stock market stories will want to keep reading!



We have all of the hottest stock market news ready to go on Monday! That includes everything happening with Adient&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/adnt-stock-quote/">ADNT</a>) layoffs, Nike&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/nke-stock-quote/">NKE</a>) layoffs and Salesforce&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/crm-stock-quote/">CRM</a>) stock this morning. All of that news is available at the following links!



<h2>More Monday Stock Market News</h2>



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<li><a href="https://investorplace.com/2024/04/investors-cheer-salesforce-crm-stock-as-informatica-deal-deflates/">Investors Cheer Salesforce (CRM) Stock as Informatica Deal Deflates</a></li>
</ul>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/04/li-stock-alert-li-auto-crumbles-as-competition-forces-price-cuts/">LI Stock Alert: Li Auto Crumbles as Competition Forces Price Cuts</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

LI Stock Alert: Li Auto Crumbles as Competition Forces Price Cuts

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Tungray Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/trsg-stock-quote/">TRSG</a>) stock is heading higher on Monday as the manufacturing solutions company&rsquo;s shares continue to rally after its initial public offering (<a href="https://investorplace.com/stock-quotes/ipo-stock-quote/">IPO</a>) on Friday.



Tungray Technologies launched its IPO on Friday <a href="https://www.prnewswire.com/news-releases/tungray-technologies-inc-announces-pricing-of-initial-public-offering-302121550.html">at a price of $4 per share</a> for TRSG stock. However, the company&rsquo;s shares underwent a massive rally that saw it climb above $8 per share before closing out Friday at $5.95 per share.



That rally continues today with shares of TRSG stock up 32.4% as of Monday morning. That comes with some 3 million shares of the company&rsquo;s stock changing hands as of this writing.



<h2>What&rsquo;s Behind the TRSG Stock Rally?</h2>



Interest in TRSG stock is the main reason for the rally after its IPO. That&rsquo;s not too surprising as companies often attract extra attention during the days after they go public.



The more interesting thing traders will want to watch is the price of TRSG stock over the next few weeks. It&rsquo;s possible that the company&rsquo;s shares could continue to climb higher off of its positive IPO. On the flip side of that, the stock could also lose a good bit of its value if traders lose interest once the new stock smell has worn off.



Investors who are interested in more of the top stock market stories on Monday will want to stick around!



We have all of the hottest stock market news that traders need to know about today. Among that is what&rsquo;s going on with shares of Express&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/expr-stock-quote/">EXPR</a>), Li Auto&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/li-stock-quote/">LI</a>)&nbsp;and Adient&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/adnt-stock-quote/">ADNT</a>) stock today. All of this info is good to go at the links below!



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</ul>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/04/trsg-stock-why-tungray-technologies-is-rallying-after-its-ipo/">TRSG Stock: Why Tungray Technologies Is Rallying After Its IPO</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.