Aviat Networks Stock (NASDAQ:AVNW), Trade Ideas

Aviat Networks

Aviat Networks Inc is a networking solutions provider. It designs, manufactures, and sells wireless networking products, solutions, and services to mobile and fixed operators, private network operators, government agencies, transportation and utility companies, public safety agencies, and broadcast network operators around the world. The company's product categories include point-to-point microwave and millimeter wave radios that are licensed (subject to local frequency regulatory requirements), lightly licensed and license-exempt (operating in license-exempt frequencies), and element and network management software.

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U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining more than 150 points on Wednesday.

The Dow traded up 0.47% to 38,701.01 while the NASDAQ rose 0.89% to 15,748.69. The S&amp;P 500 also rose, gaining, 0.82% to 4,994.75.

Nasdaq Surges Over 100 Points; Yum! Brands Posts Downbeat Results

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Shares of  The Container Store Group, Inc. (NYSE: TCS) shares fell sharply during Wednesday’s session following weak quarterly results.

Why Container Store Group Shares Are Trading Lower By Around 23%? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 100 points on Wednesday.

The Dow traded up 0.37% to 38,665.47 while the NASDAQ rose 0.83% to 15,737.97. The S&amp;P 500 also rose, gaining, 0.76% to 4,991.73.

Crude Oil Edges Higher; Snap Shares Plummet

Aviat Networks Inc

U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining more than 150 points on Wednesday.
The Dow traded up 0.47% to 38,701.01 while the NASDAQ rose 0.89% to 15,748.69. The S&amp;P 500 also rose, gaining, 0.82% to 4,994.75.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/02/36978503/top-5-energy-stocks-that-may-explode-in-february"> Top 5 Energy Stocks That May Explode In February </a>
&nbsp;
<h3>Leading and Lagging Sectors</h3>
&nbsp;
Consumer discretionary shares rose by 1.1% on Wednesday.
In trading on Wednesday, energy shares fell by 0.2%.
&nbsp;
<h3>Top Headline</h3>
&nbsp;
Yum! Brands Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yum#NYSE">YUM</a>) reported weaker-than-expected results for its fourth quarter on Wednesday.
The company posted fourth-quarter fiscal 2023 sales growth of 1% year-on-year to $2.04 billion, missing the analyst consensus estimate of $2.11 billion. Adjusted EPS was $1.26, below the consensus of $1.40.
<h3>
Equities Trading UP</h3>
&nbsp;
MicroCloud Hologram Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/holo#NASDAQ">HOLO</a>) shares shot up 497% to $8.95. The company announced it planned to join the Communications Industry Association. HOLO intends to join the Communications Industry Association to foster information technology innovation.
Shares of Glatfelter Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/glt#NYSE">GLT</a>) got a boost, surging 72% to $2.20 after the company and Berry Global announced they entered into definitive agreements for Berry to spin-off and merge the majority of its Health, Hygiene and Specialties segment to include its Global Nonwovens and Films business with Glatfelter.
Aviat Networks, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avnw#NASDAQ">AVNW</a>) shares were also up, gaining 25% to $37.47 after the company reported better-than-expected second-quarter financial results and issued FY24 revenue guidance above estimates.
&nbsp;
<h3>Equities Trading DOWN</h3>
&nbsp;
Triumph Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tgi#NYSE">TGI</a>) shares dropped 18% to $13.46 after the company reported below-consensus third-quarter results and cut the FY24 outlook.
Shares of The Container Store Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tcs#NYSE">TCS</a>) were down 41% to $0.9998 following weak quarterly results.
Snap Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/snap#NYSE">SNAP</a>) was down, falling 35% to $11.30 after the company reported mixed quarterly results.
Also Check This Out:<a href="https://www.benzinga.com/news/24/02/36981099/spotify-to-rally-around-36-here-are-10-top-analyst-forecasts-for-wednesday"> Spotify To Rally Around 36%? Here Are 10 Top Analyst Forecasts For Wednesday </a>
&nbsp;
<h3>Commodities</h3>
&nbsp;
In commodity news, oil traded up 0.8% to $73.89&nbsp;while gold traded mostly flat at $2,051.10.
Silver traded down 0.5% to $22.365 on Wednesday while copper fell 1.2% to $3.7365.
&nbsp;
<h3>Euro zone</h3>
&nbsp;
European shares were lower today. The eurozone&rsquo;s STOXX 600 fell 0.23%, London&rsquo;s FTSE 100 fell 0.68% while Spain&rsquo;s IBEX 35 Index fell 1.15% The German DAX fell 0.65% French CAC 40 fell 0.36% while Italy&rsquo;s FTSE MIB Index fell 0.45%.
France&rsquo;s current account deficit shrank to EUR 0.7 billion in December versus a revised EUR 2.9 billion in the prior month, while trade deficit increased to &euro;6.83 billion in December from a &euro;5.9 billion gap in the previous month.
The Halifax House Price Index rose by 2.5% year-over-year in January, while German industrial output declined by 1.6% month-over-month in December.
&nbsp;
<h3>Asia Pacific Markets</h3>
&nbsp;
Asian markets closed mixed on Wednesday, with Japan&rsquo;s Nikkei 225 falling 0.11%, Hong Kong&rsquo;s Hang Seng Index falling 0.34% and China&rsquo;s Shanghai Composite Index gaining 1.44%. India&rsquo;s S&amp;P BSE Sensex, meanwhile, fell 0.06%.
China&#39;s vehicle sales climbed by 47.9% year-over-year to 2.44 million units in January. China&#39;s foreign exchange reserves fell to $3.219 trillion in January from $3.238 trillion in the prior month. Foreign exchange reserves in Hong Kong fell to $423.2 billion in January.
The index of leading economic indicators in Japan rose to 110.0 in December versus a revised reading of 108.1 in the previous month, while index of coincident economic indicators rose to 116.2 in December from a final reading of 114.6. Reserve assets in Japan declined to $1.292 trillion in January from $1.295 trillion a month ago.
&nbsp;
<h3>Economics</h3>
&nbsp;
U.S. mortgage applications increased by 3.7% on the week ending Feb. 2.
The trade deficit in the U.S. came in at $62.2 billion in December versus a revised $61.9 billion gap in November.
Crude oil inventories in the U.S. increased by 5.521 million barrels in the week ending Feb. 2, , the most since mid-November.
Now Read This: <a href="https://www.benzinga.com/news/24/02/36977073/wall-streets-most-accurate-analysts-hold-sell-these-3-tech-and-telecom-stocks-with-over-3-dividend-y"> Wall Street&#39;s Most Accurate Analysts&#39; Views On 3 Tech And Telecom Stocks With Over 3% Dividend Yields </a>

Shares of The Container Store Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tcs#NYSE">TCS</a>) shares fell sharply during Wednesday&rsquo;s session following weak quarterly results.
Container Store Group posted adjusted loss of 8 cents per share, compared to market expectations for a loss of 5 cents per share. The company&rsquo;s quarterly sales came in at $214.90 million versus estimates of $220.72 million.
Container Store Group shares dipped 22.7% to $1.3150 on Wednesday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>MicroCloud Hologram Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/holo#NASDAQ">HOLO</a>) shares jumped 400% to $7.51. The company announced it planned to join the Communications Industry Association. HOLO intends to join the Communications Industry Association to foster information technology innovation.</li>
<li>SMX (Security Matters) Public Limited Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smx#NASDAQ">SMX</a>) shares climbed 138% to $0.5528.</li>
<li>Glatfelter Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/glt#NYSE">GLT</a>) climbed 68.8% to $2.1450 after the company and Berry Global announced they entered into definitive agreements for Berry to spin-off and merge the majority of its Health, Hygiene and Specialties segment to include its Global Nonwovens and Films business with Glatfelter.</li>
<li>MariaDB plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mrdb#NYSE">MRDB</a>) gained 57% to $0.3782 after jumping more than 26% on Tuesday.</li>
<li>ThermoGenesis Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/thmo#NASDAQ">THMO</a>) climbed 37.7% to $0.8101.</li>
<li>Recon Technology, Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rcon#NASDAQ">RCON</a>) rose 33.3% to $0.1934.</li>
<li>Ault Alliance, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ault#NYSE">AULT</a>) surged 28.1% to $0.4549. Ault Alliance said it determined not to pursue new acquisitions during 2024, though it may continue to make strategic investments.</li>
<li>Luokung Technology Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lkco#NASDAQ">LKCO</a>) gained 27.4% to $0.6269.</li>
<li>MicroAlgo Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mlgo#NASDAQ">MLGO</a>) rose 27% to $0.4939.</li>
<li>Aviat Networks, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avnw#NASDAQ">AVNW</a>) surged 23.7% to $37.20 after the company reported better-than-expected second-quarter financial results and issued FY24 revenue guidance above estimates.</li>
<li>Jianpu Technology Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jt#NYSE">JT</a>) gained 18.5% to $0.7584.</li>
<li>Enphase Energy, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/enph#NASDAQ">ENPH</a>) rose 17.7% to $118.36 after the company reported quarterly financial results.</li>
<li>Sonos, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sono#NASDAQ">SONO</a>) gained 17.6% to $19.36 after the company reported better-than-expected quarterly financial results.</li>
<li>XPO, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xpo#NYSE">XPO</a>) climbed 16.6% to $114.34 after the company reported better-than-expected fourth-quarter financial results.</li>
<li>Cirrus Logic, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crus#NASDAQ">CRUS</a>) gained 15.1% to $90.28 after the company reported better-than-expected quarterly financial results.</li>
<li>Green Plains Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gpre#NASDAQ">GPRE</a>) climbed 14.6% to $22.94 following quarterly results.</li>
<li>Hitek Global Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hkit#NASDAQ">HKIT</a>) rose 14.1% to $0.81.</li>
<li>Griffon Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gff#NYSE">GFF</a>) gained 13.8% to $68.55 following upbeat results.</li>
<li>REGENXBIO Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rgnx#NASDAQ">RGNX</a>) rose 13.3% to $14.78. Regenxbio has completed enrollment at dose level 2 and reported additional interim safety and efficacy in Phase 1/2 AFFINITY DUCHENNE trial of Rgx-202 in patients with Duchenne Muscular Dystrophy ages 4 to11 years old.</li>
<li>O-I Glass, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oi#NYSE">OI</a>) climbed 12.7% to $16.19 following upbeat results.</li>
<li>Frontier Group Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ulcc#NASDAQ">ULCC</a>) rose 11.3% to $6.93. Frontier reported fourth-quarter financial results and issued guidance.</li>
<li>Silicon Laboratories Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/slab#NASDAQ">SLAB</a>) jumped 11.1% to $131.43 after the company reported better-than-expected quarterly financial results and issued guidance.</li>
<li>Griid Infrastructure Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/grdi#NASDAQ">GRDI</a>) gained 10.9% to $2.35 after gaining over 4% on Tuesday.</li>
<li>Emerson Electric Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/emr#NYSE">EMR</a>) climbed 10.8% to $104.44 after the company reported better-than-expected quarterly earnings and raised FY24 outlook.</li>
<li>Yum China Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yumc#NYSE">YUMC</a>) shares rose 9.9% to $41.14 after the company reported fourth-quarter financial results and increased its dividend.</li>
<li>IHS Holding Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ihs#NYSE">IHS</a>) gained 8.1% to $3.1250.</li>
<li>Fortinet, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ftnt#NASDAQ">FTNT</a>) rose 4% to $70.13 after the company reported better-than-expected fourth-quarter financial results and issued guidance.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Snap Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/snap#NYSE">SNAP</a>) shares dipped 35.2% to $11.30 after the company reported mixed fourth-quarter results.</li>
<li>Sunworks, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sunw#NASDAQ">SUNW</a>) shares fell 29.1% to $0.0617. Sunworks shares dipped 58% on Tuesday after the company announced it ceased operations and filed voluntary petitions for relief under the provisions of Chapter 7 of Title 11 of the United States Code.</li>
<li>CytoMed Therapeutics Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gdtc#NASDAQ">GDTC</a>) dipped 26.7% to $2.25.</li>
<li>fuboTV Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fubo#NYSE">FUBO</a>) shares fell 25.7% to $1.8650 after gaining around 4% on Tuesday.</li>
<li>Volcon, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vlcn#NASDAQ">VLCN</a>) tumbled 23.6% to $2.62.</li>
<li>The E.W. Scripps Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ssp#NASDAQ">SSP</a>) fell 22.8% to $5.74.</li>
<li>MedAvail Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mdvl#NASDAQ">MDVL</a>) shares declined 20.4% to $2.61 after jumping 92% on Tuesday.</li>
<li>Triumph Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tgi#NYSE">TGI</a>) fell 18.8% to $13.35 after the company reported below-consensus third-quarter results and cut the FY24 outlook.</li>
<li>Perion Network Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/peri#NASDAQ">PERI</a>) fell 18.6% to $24.00 after the company issued worse-than-expected FY24 outlook.</li>
<li>ePlus inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/plus#NASDAQ">PLUS</a>) shares declined 17.6% to $64.50 after the company reported worse-than-expected third-quarter results.</li>
<li>The Hain Celestial Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hain#NASDAQ">HAIN</a>) fell 16.9% to $9.42 after the company reported worse-than-expected quarterly revenue results.</li>
<li>Soho House &amp; Co Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/shco#NYSE">SHCO</a>) fell 15.9% to $5.20.</li>
<li>KKR Real Estate Finance Trust Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kref#NYSE">KREF</a>) shares dipped 14.3% to $10.09 following fourth-quarter results.</li>
<li>Alpha and Omega Semiconductor Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aosl#NASDAQ">AOSL</a>) fell 14.1% to $22.11. The company reported second-quarter financial results and issued revenue guidance.</li>
<li>New York Community Bancorp, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nycb#NYSE">NYCB</a>) shares declined 12.8% to $3.6599. Fitch downgraded NYCB&rsquo;s long-term credit rating to one notch above non-investment grade at BBB-. Moody&rsquo;s downgraded NYCB&#39;s debt rating from Baa3 to Ba2.</li>
<li>Viasat, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vsat#NASDAQ">VSAT</a>) fell 12.7% to $19.88 after the company reported quarerly financial results.</li>
<li>V.F. Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vfc#NYSE">VFC</a>) shares declined 12.2% to $14.88 after the company reported worse-than-expected third-quarter financial results.</li>
<li>Vestis Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vsts#NYSE">VSTS</a>) fell 10.2% to $20.03 after the company reported worse-than-expected first-quarter sales results.</li>
<li>Rekor Systems, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rekr#NASDAQ">REKR</a>) fell 9.5% to $2.7150 after the company announced the launch of a proposed follow-on public offering of common stock.</li>
<li>Berry Global Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bery#NYSE">BERY</a>) fell 9.2% to $58.35 after the company reported below-consensus first-quarter FY24 results and disclosed a deal for a tax-free spin-off and merger of Berry&#39;s Health.</li>
<li>Valley National Bancorp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vly#NASDAQ">VLY</a>) declined 8.3% to $7.49.</li>
<li>ADDvantage Technologies Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aey#NASDAQ">AEY</a>) fell 6.6% to $0.5790 after surging 77% on Tuesday.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/02/36983037/mckesson-earnings-are-imminent-here-are-the-recent-forecast-changes-from-wall-streets-most-accurate"> McKesson Earnings Are Imminent; Here Are The Recent Forecast Changes From Wall Street&#39;s Most Accurate Analysts</a>

Why Container Store Group Shares Are Trading Lower By Around 23%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

<h3>Gainers</h3>
<ul>
<li>MicroCloud Hologram (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLO#NASDAQ">HOLO</a>) stock increased by 480.2% to $8.76 during Wednesday's regular session. The market value of their outstanding shares is at $52.0 million. </li>
<li>SMX (Security Matters) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMX#NASDAQ">SMX</a>) shares moved upwards by 93.32% to $0.45. The company's market cap stands at $4.9 million. </li>
<li>MariaDB (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRDB#NYSE">MRDB</a>) shares moved upwards by 66.62% to $0.4. The market value of their outstanding shares is at $27.1 million. </li>
<li>Aviat Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVNW#NASDAQ">AVNW</a>) stock moved upwards by 23.2% to $37.06. The market value of their outstanding shares is at $461.6 million. As per the press release, Q2 earnings came out yesterday. </li>
<li>SEALSQ (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAES#NASDAQ">LAES</a>) shares increased by 21.84% to $3.57. The market value of their outstanding shares is at $32.1 million. </li>
<li>Taoping (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TAOP#NASDAQ">TAOP</a>) shares moved upwards by 18.18% to $1.22. The company's market cap stands at $2.4 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Presto Automation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRST#NASDAQ">PRST</a>) shares fell 17.9% to $0.15 during Wednesday's regular session. The company's market cap stands at $10.3 million. </li>
<li>Phunware (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PHUN#NASDAQ">PHUN</a>) stock fell 17.41% to $0.33. The market value of their outstanding shares is at $110.0 million. </li>
<li>Ostin Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OST#NASDAQ">OST</a>) shares decreased by 16.15% to $0.48. The company's market cap stands at $6.6 million. </li>
<li>ePlus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUS#NASDAQ">PLUS</a>) shares declined by 15.64% to $66.01. The market value of their outstanding shares is at $1.7 billion. The company's, Q3 earnings came out yesterday. </li>
<li>Minim (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MINM#NASDAQ">MINM</a>) shares fell 15.48% to $4.15. The company's market cap stands at $11.9 million. </li>
<li>Viasat (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSAT#NASDAQ">VSAT</a>) stock decreased by 15.33% to $19.29. The market value of their outstanding shares is at $2.4 billion. As per the press release, Q3 earnings came out yesterday. 
See Also: <a href="http://www.benzinga.com/money/tech-stocks/" title="www.benzinga.com/money/tech-stocks/">www.benzinga.com/money/tech-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

LAES

MINM

PHUN

PRST

TAOP

12 Information Technology Stocks Moving In Wednesday's Intraday Session

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 100 points on Wednesday.
The Dow traded up 0.37% to 38,665.47 while the NASDAQ rose 0.83% to 15,737.97. The S&amp;P 500 also rose, gaining, 0.76% to 4,991.73.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/02/36978503/top-5-energy-stocks-that-may-explode-in-february"> Top 5 Energy Stocks That May Explode In February </a>
&nbsp;
<h3>Leading and Lagging Sectors</h3>
&nbsp;
Information technology shares rose by 1.1% on Wednesday.
In trading on Wednesday, energy shares fell by 0.1%.
&nbsp;
<h3>Top Headline</h3>
&nbsp;
Crude oil inventories in the U.S. increased by 5.521 million barrels in the week ending Feb. 2, , the most since mid-November.
&nbsp;
<h3>Equities Trading UP</h3>
&nbsp;
MicroCloud Hologram Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/holo#NASDAQ">HOLO</a>) shares shot up 450% to $8.25. The company announced it planned to join the Communications Industry Association. HOLO intends to join the Communications Industry Association to foster information technology innovation.
Shares of Glatfelter Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/glt#NYSE">GLT</a>) got a boost, surging 77% to $2.27 after the company and Berry Global announced they entered into definitive agreements for Berry to spin-off and merge the majority of its Health, Hygiene and Specialties segment to include its Global Nonwovens and Films business with Glatfelter.
Aviat Networks, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avnw#NASDAQ">AVNW</a>) shares were also up, gaining 24% to $37.33 after the company reported better-than-expected second-quarter financial results and issued FY24 revenue guidance above estimates.
&nbsp;
<h3>Equities Trading DOWN</h3>
&nbsp;
Triumph Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tgi#NYSE">TGI</a>) shares dropped 19% to $13.39 after the company reported below-consensus third-quarter results and cut the FY24 outlook.
Shares of The Container Store Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tcs#NYSE">TCS</a>) were down 26% to $1.2512 following weak quarterly results.
Snap Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/snap#NYSE">SNAP</a>) was down, falling 35% to $11.38 after the company reported mixed quarterly results.
Also Check This Out:<a href="https://www.benzinga.com/news/24/02/36981099/spotify-to-rally-around-36-here-are-10-top-analyst-forecasts-for-wednesday"> Spotify To Rally Around 36%? Here Are 10 Top Analyst Forecasts For Wednesday </a>
&nbsp;
<h3>Commodities</h3>
&nbsp;
In commodity news, oil traded up 0.5% to $73.68 while gold traded up 0.2% at $2,054.50.
Silver traded down 0.3% to $22.42 on Wednesday while copper fell 1.2% to $3.7410.
&nbsp;
<h3>Euro zone</h3>
&nbsp;
European shares were lower today. The eurozone&rsquo;s STOXX 600 fell 0.23%, London&rsquo;s FTSE 100 fell 0.68% while Spain&rsquo;s IBEX 35 Index fell 1.15% The German DAX fell 0.65% French CAC 40 fell 0.36% while Italy&rsquo;s FTSE MIB Index fell 0.45%.
France&rsquo;s current account deficit shrank to EUR 0.7 billion in December versus a revised EUR 2.9 billion in the prior month, while trade deficit increased to &euro;6.83 billion in December from a &euro;5.9 billion gap in the previous month.
The Halifax House Price Index rose by 2.5% year-over-year in January, while German industrial output declined by 1.6% month-over-month in December.
&nbsp;
<h3>Asia Pacific Markets</h3>
&nbsp;
Asian markets closed mixed on Wednesday, with Japan&rsquo;s Nikkei 225 falling 0.11%, Hong Kong&rsquo;s Hang Seng Index falling 0.34% and China&rsquo;s Shanghai Composite Index gaining 1.44%. India&rsquo;s S&amp;P BSE Sensex, meanwhile, fell 0.06%.
China&#39;s vehicle sales climbed by 47.9% year-over-year to 2.44 million units in January. China&#39;s foreign exchange reserves fell to $3.219 trillion in January from $3.238 trillion in the prior month. Foreign exchange reserves in Hong Kong fell to $423.2 billion in January.
The index of leading economic indicators in Japan rose to 110.0 in December versus a revised reading of 108.1 in the previous month, while index of coincident economic indicators rose to 116.2 in December from a final reading of 114.6. Reserve assets in Japan declined to $1.292 trillion in January from $1.295 trillion a month ago.
&nbsp;
<h3>Economics</h3>
&nbsp;
U.S. mortgage applications increased by 3.7% on the week ending Feb. 2.
The trade deficit in the U.S. came in at $62.2 billion in December versus a revised $61.9 billion gap in November.
Crude oil inventories in the U.S. increased by 5.521 million barrels in the week ending Feb. 2, , the most since mid-November.
Now Read This: <a href="https://www.benzinga.com/news/24/02/36977073/wall-streets-most-accurate-analysts-hold-sell-these-3-tech-and-telecom-stocks-with-over-3-dividend-y"> Wall Street&#39;s Most Accurate Analysts&#39; Views On 3 Tech And Telecom Stocks With Over 3% Dividend Yields </a>

U.S. stocks traded higher, with the Dow Jones gaining around 150 points on Wednesday.
Shares of Chipotle Mexican Grill, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cmg#NYSE">CMG</a>) rose sharply during Wednesday&rsquo;s session after the company reported better-than-expected fourth-quarter financial results, issued guidance and announced a share <a href="https://www.benzinga.com/news/earnings/24/02/36968089/chipotle-mexican-grill-q4-earnings-highlights-revenue-beat-eps-beat-guidance-and-unit-count-updates">repurchase of up to $200 million.</a>
Chipotle reported fourth-quarter revenue of $2.52 billion, which was up 15.4% year-over-year. The revenue total beat a Street consensus estimate of $2.49 billion, according to data from Benzinga Pro. The company reported earnings per share of $10.36, which beat a Street consensus estimate of $9.75.
Chipotle shares surged 7.7% to $2,678.26 on Wednesday.
Here are some other big stocks recording gains in today&rsquo;s session.
<ul>
<li>Aviat Networks, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avnw#NASDAQ">AVNW</a>) rose 23.7% to $37.20 after the company reported better-than-expected second-quarter financial results and issued FY24 revenue guidance above estimates.</li>
<li>Enphase Energy, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/enph#NASDAQ">ENPH</a>) climbed 17.7% to $118.36 after the company reported quarterly financial results.</li>
<li>Sonos, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sono#NASDAQ">SONO</a>) rose 17.6% to $19.36 after the company reported better-than-expected quarterly financial results.</li>
<li>XPO, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xpo#NYSE">XPO</a>) rose 16.6% to $114.34 after the company reported better-than-expected fourth-quarter financial results.</li>
<li>Cirrus Logic, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crus#NASDAQ">CRUS</a>) climbed 15.1% to $90.28 after the company reported better-than-expected quarterly financial results.</li>
<li>Green Plains Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gpre#NASDAQ">GPRE</a>) rose 14.6% to $22.94 following quarterly results.</li>
<li>Griffon Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gff#NYSE">GFF</a>) rose 13.8% to $68.55 following upbeat results.</li>
<li>REGENXBIO Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rgnx#NASDAQ">RGNX</a>) climbed 13.3% to $14.78. Regenxbio has completed enrollment at dose level 2 and reported additional interim safety and efficacy in Phase 1/2 AFFINITY DUCHENNE trial of Rgx-202 in patients with Duchenne Muscular Dystrophy ages 4 to11 years old.</li>
<li>The AZEK Company Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/azek#NYSE">AZEK</a>) gained 13% to $44.76 as the company reported better-than-expected quarterly financial results.</li>
<li>O-I Glass, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oi#NYSE">OI</a>) gained 12.7% to $16.19 following upbeat results.</li>
<li>Frontier Group Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ulcc#NASDAQ">ULCC</a>) climbed 11.3% to $6.93. Frontier reported fourth-quarter financial results and issued guidance.</li>
<li>SolarEdge Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sedg#NASDAQ">SEDG</a>) gained 11.3% to $75.00.</li>
<li>Silicon Laboratories Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/slab#NASDAQ">SLAB</a>) rose 11.1% to $131.43 after the company reported better-than-expected quarterly financial results and issued guidance.</li>
<li>Emerson Electric Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/emr#NYSE">EMR</a>) gained 10.8% to $104.44 after the company reported better-than-expected quarterly earnings and raised FY24 outlook.</li>
<li>Yum China Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yumc#NYSE">YUMC</a>) shares climbed 9.9% to $41.14 after the company reported fourth-quarter financial results and increased its dividend.</li>
<li>Trex Company, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/trex#NYSE">TREX</a>) gained 9.5% to $91.09.</li>
<li>The Carlyle Group Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cg#NASDAQ">CG</a>) climbed 9.3% to $44.51 after the company reported better-than-expected quarterly revenues.</li>
<li>Roblox Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rblx#NYSE">RBLX</a>) gained 8.6% to $44.08 after the company reported 25% bookings growth in the fourth quarter.</li>
<li>IHS Holding Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ihs#NYSE">IHS</a>) rose 8.1% to $3.1250.</li>
<li>Palantir Technologies Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pltr#NYSE">PLTR</a>) climbed 7.8% to $23.58.</li>
<li>California Resources Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crc#NYSE">CRC</a>) rose 7.4% to $50.47. California Resources announced plans to combine with Aera Energy.</li>
<li>Arcadium Lithium plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/altm#NYSE">ALTM</a>) climbed 7.3% to $4.5494. Piper Sandler analyst Charles Neivert initiated coverage on Arcadium Lithium with an Underweight rating and announced a price target of $4.5.</li>
<li>Palo Alto Networks, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/panw#NASDAQ">PANW</a>) rose 6.7% to $364.62.</li>
<li>Carlisle Companies Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/csl#NYSE">CSL</a>) climbed 6.5% to $338.34 after the company reported better-than-expected fourth-quarter financial results and issued FY24 guidance.</li>
<li>Assurant, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aiz#NYSE">AIZ</a>) rose 5.8% to $178.71 following upbeat earnings.</li>
<li>Fortinet, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ftnt#NASDAQ">FTNT</a>) gained 4% to $70.13 after the company reported better-than-expected fourth-quarter financial results and issued guidance.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/24/02/36981099/spotify-to-rally-around-36-here-are-10-top-analyst-forecasts-for-wednesday"> Spotify To Rally Around 36%? Here Are 10 Top Analyst Forecasts For Wednesday</a>

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Chipotle Posts Upbeat Earnings, Joins Cirrus Logic, Emerson Electric, Carlyle Group And Other Big Stocks Moving Higher On Wednesday

JMP Securities analyst Erik Suppiger reiterates Aviat Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVNW#NASDAQ">AVNW</a>) with a Market Outperform and maintains $50 price target.

Price Target

Reiteration

Analyst Ratings

JMP Securities Reiterates Market Outperform on Aviat Networks, Maintains $50 Price Target

WIIM

Aviat Networks shares are trading higher after the company reported better-than-expected Q2 financial results and issued FY24 revenue guidance above estimates.

<h3>Gainers</h3>
<ul>
<li>MariaDB (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRDB#NYSE">MRDB</a>) stock increased by 116.0% to $0.52 during Wednesday's pre-market session. The company's market cap stands at $35.2 million. </li>
<li>MicroCloud Hologram (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLO#NASDAQ">HOLO</a>) stock increased by 57.61% to $2.38. The company's market cap stands at $14.1 million. </li>
<li>Aviat Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVNW#NASDAQ">AVNW</a>) shares rose 22.6% to $36.88. The company's market cap stands at $459.4 million. As per the news, the Q2 earnings report came out yesterday. </li>
<li>Genasys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNSS#NASDAQ">GNSS</a>) shares moved upwards by 21.65% to $1.91. The company's market cap stands at $84.0 million. </li>
<li>Enphase Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) shares increased by 15.11% to $115.7. The market value of their outstanding shares is at $15.7 billion. The company's, Q4 earnings came out yesterday. </li>
<li>Cirrus Logic (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRUS#NASDAQ">CRUS</a>) stock increased by 9.66% to $86.0. The company's market cap stands at $4.6 billion. The company's, Q3 earnings came out yesterday. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>ePlus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUS#NASDAQ">PLUS</a>) stock decreased by 13.5% to $67.7 during Wednesday's pre-market session. The market value of their outstanding shares is at $1.8 billion. As per the news, the Q3 earnings report came out yesterday. </li>
<li>MeridianLink (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLNK#NYSE">MLNK</a>) stock fell 12.86% to $19.25. The market value of their outstanding shares is at $1.5 billion. </li>
<li>Rekor Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REKR#NASDAQ">REKR</a>) stock declined by 12.0% to $2.64. The company's market cap stands at $182.5 million. </li>
<li>Minim (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MINM#NASDAQ">MINM</a>) shares fell 10.8% to $4.38. The company's market cap stands at $12.6 million. </li>
<li>Addvantage Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEY#NASDAQ">AEY</a>) stock decreased by 8.88% to $0.56. </li>
<li>CCSC Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCTG#NASDAQ">CCTG</a>) stock declined by 7.41% to $3.0. The market value of their outstanding shares is at $34.1 million. 
See Also: <a href="http://www.benzinga.com/money/tech-stocks/" title="www.benzinga.com/money/tech-stocks/">www.benzinga.com/money/tech-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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12 Information Technology Stocks Moving In Wednesday's Pre-Market Session

Fiscal 2024 Full Year Outlook
The Company is raising its fiscal 2024 full year guidance as follows:
<ul>
<li>Full year Revenue between $425 and $432 million
<ul>
<li>Full year Adjusted EBITDA between $51.0 and $56.0 million</li>
</ul>
</li>
</ul>

Guidance

Aviat Networks Sees FY24 Revenue $425M-$432M Vs $371.06M Est.; Full Year Adjusted EBITDA Between $51M-$56M

Aviat Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVNW#NASDAQ">AVNW</a>) reported its Q2 earnings results on Tuesday, February 6, 2024 at 04:02 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Aviat Networks beat estimated earnings by 11.49%, reporting an EPS of $0.97 versus an estimate of $0.87.
Revenue was up $4.35 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.1 which was followed by a 15.61% increase in the share price the next day.
Here's a look at Aviat Networks's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.77</td>
<td>0.85</td>
<td>0.75</td>
<td>0.79</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.87</td>
<td>0.87</td>
<td>0.75</td>
<td>0.94</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>87.61M</td>
<td>88.98M</td>
<td>84.33M</td>
<td>85.32M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>87.57M</td>
<td>91.18M</td>
<td>83.48M</td>
<td>90.68M</td>
</tr>
</tbody>
</table>

To track all earnings releases for Aviat Networks <a href="https://www.benzinga.com/quote/AVNW/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Recap: Aviat Networks Q2 Earnings

Aviat Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVNW#NASDAQ">AVNW</a>) reported quarterly earnings of $0.97 per share which beat the analyst consensus estimate of $0.87 by 11.49 percent. This is a 3.19 percent increase over earnings of $0.94 per share from the same period last year. The company reported quarterly sales of $95.04 million which beat the analyst consensus estimate of $91.47 million by 3.90 percent. This is a 4.80 percent increase over sales of $90.68 million the same period last year.

Aviat Networks Q2 Adj EPS $0.97 Beats $0.87 Estimate, Sales $95.04M Beat $91.47M Estimate

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Earnings Scheduled For February 6, 2024

Aviat Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVNW#NASDAQ">AVNW</a>) is set to give its latest quarterly earnings report on Tuesday, 2024-02-06. Here's what investors need to know before the announcement.
Analysts estimate that Aviat Networks will report an earnings per share (EPS) of $0.87. 
Aviat Networks 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>Past Earnings Performance</h3>
Last quarter the company beat EPS by $0.10, which was followed by a 15.61% increase in the share price the next day.
Here's a look at Aviat Networks's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.77</td>
<td>0.85</td>
<td>0.75</td>
<td>0.79</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.87</td>
<td>0.87</td>
<td>0.75</td>
<td>0.94</td>
</tr>
<tr>
<td>Price Change %</td>
<td>15.61%</td>
<td>15.76%</td>
<td>-10.44%</td>
<td>19.27%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1707166918_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Aviat Networks were trading at $28.81 as of February 02. Over the last 52-week period, shares are down 19.39%. Given that these returns are generally negative, long-term shareholders are likely unhappy going into this earnings release. 
<a href="https://www.benzinga.com/quote/AVNW/earnings">To track all earnings releases for Aviat Networks visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Preview Of Aviat Networks's Earnings

Agreement Leverages Unique Capabilities from Each Company to Address Industry Digitalization and Automation in Private Networks Across Indonesia &nbsp;
AUSTIN, Texas, Jan. 8, 2024 /PRNewswire/ -- Aviat Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVNW#NASDAQ">AVNW</a>), the expert in wireless transport and access solutions, today announced a strategic collaboration agreement with PT Smartfren Telecom Tbk (IDX: FREN) to deliver high speed, ultra-reliable wireless connectivity, private wireless indoor and outdoor networks, and industry digitalization and automation services to private networks customers across Indonesia.
According to Omdia, by 2027, private LTE and 5G networks combined will have a total market size of $7.4 billion worldwide. This partnership will leverage unique capabilities of both companies to deliver IOT technology, 4G/5G private networks, and ICT solutions to Indonesian private networks and enterprises including hospitals, agriculture, mining, buildings, oil/gas companies, factories, smart cities, and other vertical industries.
The objective of the agreement is to capture this market opportunity by enhancing the competitive positioning, and better serving Indonesian clientele through pre-sales and solution engineering, joint sales and market opportunity development, and integrated customer service and support.
As a result of its recent acquisition of NEC's Wireless Transport Business, Aviat is now the leading wireless transport provider in the Indonesian market and offers a comprehensive portfolio of wireless transport and access solutions, along with local presence throughout the country. Aviat will serve as solutions provider for all equipment and services related to Smartfren's private networks offering.
With approximately 36 million subscribers at the end of 2022, Smartfren is the number four mobile operator in Indonesia and one of the top 10 largest in Southeast Asia.

Smartfren Telecom And Aviat Establish Strategic Collaboration In Indonesia; Agreement Leverages Unique Capabilities From Each Company To Address Industry Digitalization And Automation In Private Networks Across Indonesia

Aviat Networks 13D Filing Shows NEC Corporation Reported A 5.9% Stake In The Co As Of November 30, 2023

Thanksgiving week is here and investors will be anxiously awaiting the results of Black Friday sales and the impact they have on retail stocks.
Here's a look at stocks that analysts are eyeing ahead of the important shopping holiday.
KeyBanc on Black Friday: The crucial retail holiday of <a href="http://benzinga.com/topic/black-friday">Black Friday</a> is assessed by KeyBanc analysts, who express a &#8220;cautious near-term view&#8221; regarding consumer spending during this shopping season.
Analysts Brad Thomas and Ashley Ownes explored opportunities in the retail sector ahead of the holiday shopping season.
"With Black Friday approaching and the all-important holiday season underway, we highlight key consumer trends and our views on outperformers/underperformers in the weeks ahead," the analyst said.
The analysts also look at seasonality, forecasts from the National Retail Federation and the impact of an extra day in the 2023 holiday calendar.
"In recent months, we have seen weakness in discretionary spending, as evidenced in our proprietary Key First Look Data and comments from many retailers this earnings season."
The analysts said consumers "remain pressured by elevated inflation" and other macroeconomic concerns.
"We believe consumers will likely show up for the Black Friday weekend and the pre-Christmas shopping period. However, we believe the consumer will increasingly shop sales events as they look for deals and bargains."
The analyst singles out the following stocks as potential Black Friday and holiday shopping winners.
"We continue to believe investors can play offense and defense within the discount space, as shoppers seek value."
Five Below Inc (NASDSAQ:FIVE): Overweight rating, $215 price target
Ollie's Bargain Outlet Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>): Overweight rating, $93 price target
Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>): Overweight rating, $177 price target
For e-commerce retailers, the analysts recommend several companies against potential softness in the space.
Nordstrom Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>): Overweight rating, $19 price target
Lululemon Athletica Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>): Overweight rating, $450 price target
On Holding AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONON#NYSE">ONON</a>): Overweight rating, $40 price target
The analysts underscore their attention on athletic wear, citing new product launches and the &#8220;casualization of apparel&#8221; in the sector as key factors influencing consumer behavior.
Nordstrom receives a recommendation due to enhancements in its off-price Rack segment and positive developments in inventory trends.
"We expect a return to normalized purchasing behavior as compared to prior years, similar to what many companies have already been experiencing."
The analysts said Black Friday could take back share during the holiday season.
"The holiday quarter is the most important of the year."
Related Link: <a href="https://www.benzinga.com/news/23/11/35867972/consumer-spending-to-increase-by-13-on-black-friday-holiday-shopping-despite-economic-headwinds-delo">Consumer Spending To Increase By 13% On Black Friday Holiday Shopping Despite Economic Headwinds: Deloitte Survey</a>
Roth MKM on Black Friday: A recovery of the semiconductor, broadband and Internet of Things sectors are sized up ahead of the holiday shopping season.
"It's early, but as we conclude a challenging 2023 small cap tech tape, it's time to trade up to quality," Roth MKM analyst Scott Searle said.
The analyst said numbers and valuations have bottomed and anticipated 2024 smartphone growth could be a positive for the sector.
For the broadband sector, Searle highlights Calix Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CALX#NYSE">CALX</a>) and Clearfield Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLFD#NASDAQ">CLFD</a>) as companies to be on investors' radar. The analyst also expects Cambium Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMBM#NASDAQ">CMBM</a>) and Aviat Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVNW#NASDAQ">AVNW</a>) to benefit from deployments of fixed wireless access.
A recovery of the smartphone sector with growth expected in 2024 could benefit several companies. "Following two years of contraction and reaching the lowest unit volume in a decade, smartphones are expected to grow 4.5% in 2024," Searles said.
Stocks highlighted include Semtech Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMTC#NASDAQ">SMTC</a>) and Interdigital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDCC#NASDAQ">IDCC</a>) for smartphone growth.
PowerFleet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PWFL#NASDAQ">PWFL</a>) and KORE Group Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KORE#NYSE">KORE</a>) are also highlighted as stocks that are improving their balance sheets and could see "meaningful appreciation into 2024."
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/35834357/analysts-praise-targets-q3-results-gross-margins-but-have-cautious-tone-for-future-">Analysts Praise Target&#8217;s Q3 Results, Gross Margins, But Have Cautious Tone For Future: Retailer &#8216;Facing The Largest Macro Headwinds&#8217;</a>
Photo: Shutterstock

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Black Friday Preview: 'Consumers Will Likely Show Up' — 14 Retail, Technology Stock Picks From Analysts

<h3>Gainers</h3>
<ul>
<li>OmniLit Acquisition Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/olit#NASDAQ">OLIT</a>) jumped 53.2% to $15.53. OmniLit announced that its merger with Syntec was approved by shareholders.</li>
<li>Panbela Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pbla#NASDAQ">PBLA</a>) shares climbed 40.6% to $1.1050. Panbela announced the publication of preclinical and clinical data from studies of CPP-1X (also known as &alpha;-Difluoromethylornithine (DFMO) or Eflornithine) in recent onset type 1 diabetes (T1D).</li>
<li>Lemonade, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lmnd#NYSE">LMND</a>) climbed 37.2% to $15.09 following strong third-quarter results.</li>
<li>Aware, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/awre#NASDAQ">AWRE</a>) shares climbed 36.2% to $1.4299 after the company reported strong quarterly sales results.</li>
<li>Alpine Immune Sciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/alpn#NASDAQ">ALPN</a>) rose 35.4% to $14.25. The company presented initial clinical data on povetacicept in autoimmune glomerulonephritis in a late-breaking poster session at the American Society of Nephrology Kidney Week 2023.</li>
<li>Rocky Brands, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rcky#NASDAQ">RCKY</a>) gained 33.9% to $16.87 after the company reported better-than-expected third-quarter financial results.</li>
<li>8x8, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eght#NASDAQ">EGHT</a>) gained 31.2% to $3.0050 following upbeat quarterly results.</li>
<li>Kodiak Sciences Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kod#NASDAQ">KOD</a>) jumped 30.8% to $2.0150 after the company said data from tarcocimab tedromer will be presented during the annual meeting of the American Academy of Ophthalmology to be held Nov. 3-6 in San Francisco.</li>
<li>JAKKS Pacific, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jakk#NASDAQ">JAKK</a>) jumped 30% to $22.17 after the company reported better-than-expected third-quarter financial results.</li>
<li>Omega Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/omga#NASDAQ">OMGA</a>) gained 26% to $1.71.</li>
<li>Roku, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/roku#NASDAQ">ROKU</a>) shares surged 25.7% to $75.06 after the company reported better-than-expected third-quarter sales results.</li>
<li>AudioCodes Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/audc#NASDAQ">AUDC</a>) shares rose 24.9% to $9.78 after the company reported better-than-expected third-quarter financial results.</li>
<li>Hyzon Motors Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hyzn#NASDAQ">HYZN</a>) jumped 24.3% to $0.92.</li>
<li>Arcellx, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aclx#NASDAQ">ACLX</a>) gained 23.3% to $42.42. Arcellx announced oral presentation for its CART-ddBCMA Phase 1 trial in patients with relapsed or refractory multiple myeloma at the 65th ASH Annual Meeting and Exposition.</li>
<li>Shopify Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/shop#NYSE">SHOP</a>) surged 22.4% to $59.69 after the company reported better-than-expected third-quarter financial results.</li>
<li>Local Bounti Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/locl#NYSE">LOCL</a>) gained 22.2% to $2.6399.</li>
<li>Advent Technologies Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/adn#NASDAQ">ADN</a>) jumped 22% to $0.46.</li>
<li>Joby Aviation, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/joby#NYSE">JOBY</a>) climbed 21.3% to $6.50 following strong earnings.</li>
<li>Sinclair, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sbgi#NASDAQ">SBGI</a>) gained 21.2% to $12.86 following quarterly results.</li>
<li>Virios Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/viri#NASDAQ">VIRI</a>) gained 21.1% to $0.6240.</li>
<li>Theratechnologies Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/thtx#NASDAQ">THTX</a>) climbed 20.2% to $1.07.</li>
<li>Pactiv Evergreen Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ptve#NASDAQ">PTVE</a>) gained 19.8% to $10.22 following upbeat earnings.</li>
<li>Fastly, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fsly#NYSE">FSLY</a>) shares jumped 18.7% to $16.92 after the company reported upbeat third-quarter financial results.</li>
<li>Benson Hill, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bhil#NASDAQ">BHIL</a>) rose 18.6% to $0.1963.</li>
<li>Palantir Technologies Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pltr#NYSE">PLTR</a>) surged 18.5% to $17.68 after the company reported better-than-expected third-quarter financial results and raised FY23 revenue guidance.</li>
<li>Opendoor Technologies Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/open#NASDAQ">OPEN</a>) jumped 18.3% to $2.2350.</li>
<li>Pitney Bowes Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pbi#NYSE">PBI</a>) gained 18.3% to $3.75 following upbeat earnings.</li>
<li>Park-Ohio Holdings Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pkoh#NASDAQ">PKOH</a>) climbed 17.9% to $27.08 following upbeat earnings.</li>
<li>DoorDash, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dash#NASDAQ">DASH</a>) gained 17.7% to $89.32 after the company reported better-than-expected third-quarter sales results.</li>
<li>Informatica Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/infa#NYSE">INFA</a>) rose 17.7% to $22.55 after the company posted upbeat quarterly sales and announced a restructuring plan.</li>
<li>Energy Recovery, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/erii#NASDAQ">ERII</a>) jumped 17.5% to $16.93 following strong earnings.</li>
<li>Lightspeed Commerce Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lspd#NYSE">LSPD</a>) gained 16.5% to $14.50 after posting quarterly results.</li>
<li>Aviat Networks, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avnw#NASDAQ">AVNW</a>) surged 15.9% to $30.67 following first-quarter results.</li>
<li>JFrog Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/frog#NASDAQ">FROG</a>) climbed 15.6% to $26.07 after the company reported better-than-expected third-quarter financial results and issued guidance.</li>
<li>Sabre Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sabr#NASDAQ">SABR</a>) rose 15.5% to $4.0450 following strong sales.</li>
<li>Avis Budget Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/car#NASDAQ">CAR</a>) gained 14.1% to $187.11 after the company posted upbeat earnings and announced management realignment.</li>
<li>Cellectis S.A. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clls#NASDAQ">CLLS</a>) shares climbed 14% to $3.0094. Cellectis shares are jumped around 174% on Wednesday after the company announced a research agreement with AstraZeneca. The company is scheduled to report financial results for the third quarter on Nov. 6, 2023.</li>
<li>Cars.com Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cars#NYSE">CARS</a>) gained 13% to $17.00 following third-quarter results.</li>
<li>LumiraDx Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lmdx#NASDAQ">LMDX</a>) shares rose 8.7% to $0.0889 after falling 17% on Wednesday. LumiraDX recently announced the receipt of the Nasdaq delisting determination.</li>
<li>The Clorox Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/clx#NYSE">CLX</a>) gained 7.6% to $124.13 after the company reported better-than-expected quarterly sales results.</li>
<li>Lyft, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lyft#NASDAQ">LYFT</a>) gained 7.3% to $9.84.</li>
<li>QUALCOMM Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qcom#NASDAQ">QCOM</a>) gained 4.9% to $116.26 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter sales guidance above estimates.</li>
<li>PayPal Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pypl#NASDAQ">PYPL</a>) shares rose 3.9% to $53.65 following upbeat results.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Outlook Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/otlk#NASDAQ">OTLK</a>) shares fell 48.3% to $0.3268 after the FDA informed the company that an additional adequate and well-controlled clinical trial would be required for the approval of ONS-5010 for the treatment of wet AMD.</li>
<li>Confluent, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cflt#NASDAQ">CFLT</a>) fell 44.3% to $15.68 after the company reported third-quarter financial results.</li>
<li>Remitly Global, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rely#NASDAQ">RELY</a>) dipped 33.2% to $18.43 after the company reported mixed third-quarter financial results.</li>
<li>Acurx Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acxp#NASDAQ">ACXP</a>) fell 31.4% to $3.48 after the company released efficacy results from a Phase 2 trial.</li>
<li>reAlpha Tech Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aire#NASDAQ">AIRE</a>) declined 31.1% to $12.06</li>
<li>POET Technologies Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/poet#NASDAQ">POET</a>) dipped 29.4% to $1.9212 after the company initiated a public offering in the United States and a non-brokered offering in Canada.</li>
<li>Gannett Co., Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gci#NYSE">GCI</a>) fell 24.8% to $1.7290 following third-quarter results.</li>
<li>DarioHealth Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/drio#NASDAQ">DRIO</a>) declined 23.3% to $0.7746 following downbeat quarterly results.</li>
<li>Seres Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mcrb#NASDAQ">MCRB</a>) fell 19.7% to $1.1550 following quarterly results.</li>
<li>Sangamo Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sgmo#NASDAQ">SGMO</a>) dropped 18.5% to $0.4814 following weak quarterly results.</li>
<li>Safe and Green Development Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sgd#NASDAQ">SGD</a>) shares fell 18% to $0.7715 after declining 6% on Wednesday.</li>
<li>Connect Biopharma Holdings Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cntb#NASDAQ">CNTB</a>) declined 18% to $1.4522.</li>
<li>Omnicell, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/omcl#NASDAQ">OMCL</a>) declined 17.5% to $29.51 following third-quarter results.</li>
<li>Procore Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pcor#NASDAQ">PCOR</a>) shares fell 17.3% to $49.79 after the company reported third-quarter financial results and issued guidance.</li>
<li>Inari Medical, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nari#NASDAQ">NARI</a>) declined 16.8% to $51.05 after the company reported third-quarter results and announced it will acquire LimFlow for $250 million in cash.</li>
<li>Regal Rexnord Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rrx#NYSE">RRX</a>) dipped 16.8% to $98.26 following downbeat results.</li>
<li>STAAR Surgical Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/staa#NASDAQ">STAA</a>) fell 16.5% to $36.18 following third-quarter results.</li>
<li>Preformed Line Products Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/plpc#NASDAQ">PLPC</a>) declined 16.4% to $115.84 following third-quarter results.</li>
<li>Tenable Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tenb#NASDAQ">TENB</a>) fell 15.6% to $35.40 following third-quarter results.</li>
<li>Werewolf Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/howl#NASDAQ">HOWL</a>) shares fell 15.4% to $1.93 after dipping around 9% on Wednesday.</li>
<li>Sturm, Ruger &amp; Company, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rgr#NYSE">RGR</a>) declined 14.8% to $46.30 following weak quarterly results.</li>
<li>CRA International, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crai#NASDAQ">CRAI</a>) fell 14.6% to $83.00 following weak quarterly results.</li>
<li>Belden Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bdc#NYSE">BDC</a>) declined 14.4% to $61.45 following weak fourth-quarter guidance.</li>
<li>KBR, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kbr#NYSE">KBR</a>) fell 13.5% to $50.41 following weak sales.</li>
<li>Pediatrix Medical Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/md#NYSE">MD</a>) declined 11.7% to $9.89 following weak results.</li>
<li>DENTSPLY SIRONA Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/xray#NASDAQ">XRAY</a>) dropped 11.6% to $27.25 following downbeat sales.</li>
<li>Markel Group Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mkl#NYSE">MKL</a>) declined 11.6% to $1,319.19. The company reported third-quarter financial results.</li>
<li>BorgWarner Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bwa#NYSE">BWA</a>) fell 11.4% to $32.90 after it reported third-quarter earnings.</li>
<li>Marriott Vacations Worldwide Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vac#NYSE">VAC</a>) declined 10.3% to $79.73 following quarterly results.</li>
<li>Nu Skin Enterprises, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nus#NYSE">NUS</a>) fell 10.2% to $16.73 following weak earnings.</li>
<li>Envista Holdings Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nvst#NYSE">NVST</a>) fell 9.5% to $20.80 after reporting weak third-quarter results.</li>
<li>SolarEdge Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sedg#NASDAQ">SEDG</a>) shares fell 9% to $68.95 after the company reported weaker-than-expected sales for its third quarter.</li>
<li>Crocs, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crox#NASDAQ">CROX</a>) fell 8.4% to $80.06 after the company slashed its FY23 outlook.</li>
<li>Tempur Sealy International, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tpx#NYSE">TPX</a>) declined 8.3% to $37.03 following weak results.</li>
<li>AXIS Capital Holdings Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/axs#NYSE">AXS</a>) dropped 7.7% to $53.44 following quarterly results.</li>
<li>Revolve Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rvlv#NASDAQ">RVLV</a>) fell 5.8% to $12.71 following weak quarterly earnings.</li>
<li>QuinStreet, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qnst#NASDAQ">QNST</a>) fell 4.4% to $11.15 following quarterly results.</li>
<li>Albemarle Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/alb#NYSE">ALB</a>) shares declined 3.8% to $118.30 after reporting latest-quarter results.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/23/11/35565159/apple-gears-up-for-q4-print-these-most-accurate-analysts-revise-forecasts-ahead-of-earnings-call"> Apple Gears Up For Q4 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call </a>

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Why STAAR Surgical Shares Are Trading Lower By Around 16%? Here Are Other Stocks Moving In Thursday's Mid-Day Session