Acuity Brands Stock (NYSE:AYI), Trade Ideas

Acuity Brands

Acuity Brands Inc is the parent company of Acuity Brands Lighting and other subsidiaries, which provide lighting products for commercial, institutional, industrial, and residential applications. These products include luminaires, lighting controls, lighting components, and integrated lighting systems that use a combination of light sources. Customers include electrical distributors, electric utilities, retail home improvement centers, and lighting showrooms. A majority of the firms' revenue is generated in the United States.

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The CNN Money Fear and Greed index showed some improvement in overall market sentiment on Wednesday, but it remained in the &#34;Greed&#34; zone.

U.S. stocks closed mixed on Wednesday, with the Dow Jones index recording losses for the third consecutive session.

Investor Optimism Improves; But Dow Falls For Third Session

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U.S. stocks traded higher toward the end of trading, with the S&amp;P 500 gaining around 0.3% on Wednesday.

The Dow traded up 0.08% to 39,200.08 while the NASDAQ rose 0.46% to 16,315.68. The S&amp;P 500 also rose, gaining, 0.31% to 5,221.70.

Nasdaq Gains 75 Points; Acuity Brands Posts Upbeat Earnings

First Trust NASDAQ Clean Edge Green Energy Index Fund

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SIMS

Acuity Brands reported a Q2 net sales decline of 4.0%, but beat EPS expectations. Sales for ABL decreased while ISG saw an increase. Adjusted operating margin and cash flow grew. Stock price has risen 43% in past year. Can be invested in through QCLN and SIMS.

Lighting Company Acuity Brands&#39; Q2 Sales Dip But Profits and Margins Rise

Acuity Brands Inc

Across the recent three months, 4 analysts have shared their insights on Acuity Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYI#NYSE">AYI</a>), expressing a variety of opinions spanning from bullish to bearish.
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;">0</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;">0</td>
<td style="text-align: right;">2</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;">1</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;">0</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;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $289.25, a high estimate of $315.00, and a low estimate of $261.00. This upward trend is apparent, with the current average reflecting a 18.91% increase from the previous average price target of $243.25.
<img src="https://www.benzinga.com/files/images/story/2024/1712264471_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive Acuity Brands. 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>Brian Lee</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Neutral</td>
<td>$261.00</td>
<td>$227.00</td>
</tr>
<tr>
<td>Christopher Glynn</td>
<td>Oppenheimer</td>
<td>Raises</td>
<td>Outperform</td>
<td>$315.00</td>
<td>$250.00</td>
</tr>
<tr>
<td>Joseph O'Dea</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$295.00</td>
<td>$260.00</td>
</tr>
<tr>
<td>Timothy Wojs</td>
<td>Baird</td>
<td>Raises</td>
<td>Neutral</td>
<td>$286.00</td>
<td>$236.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Acuity Brands. This offers insight into analysts' perspectives on 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 Acuity Brands compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Acuity Brands's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Capture valuable insights into Acuity Brands's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/AYI/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Acuity Brands analyst ratings.</a>
<h2>All You Need to Know About Acuity Brands</h2>
Acuity Brands Inc is the parent company of Acuity Brands Lighting and other subsidiaries, which provide lighting products for commercial, institutional, industrial, and residential applications. These products include luminaires, lighting controls, lighting components, and integrated lighting systems that use a combination of light sources. Customers include electrical distributors, electric utilities, retail home improvement centers, and lighting showrooms. A majority of the firms' revenue is generated in the United States.
<h3>Unraveling the Financial Story of Acuity Brands</h3>
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Revenue Growth: Acuity Brands's revenue growth over a period of 3 months has faced challenges. As of 30 November, 2023, the company experienced a revenue decline of approximately -6.33%. This indicates a decrease in the company's top-line earnings. When compared to others in the Industrials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Acuity Brands's net margin is impressive, surpassing industry averages. With a net margin of 10.76%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Acuity Brands's ROE excels beyond industry benchmarks, reaching 4.93%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Acuity Brands's ROA stands out, surpassing industry averages. With an impressive ROA of 2.93%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: With a below-average debt-to-equity ratio of 0.28, Acuity Brands adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

4 Analysts Have This To Say About Acuity Brands

Goldman Sachs analyst Brian Lee maintains Acuity Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYI#NYSE">AYI</a>) with a Neutral and raises the price target from $227 to $261.

Price Target

Goldman Sachs Maintains Neutral on Acuity Brands, Raises Price Target to $261

Oppenheimer analyst Christopher Glynn maintains Acuity Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYI#NYSE">AYI</a>) with a Outperform and raises the price target from $250 to $315.

Oppenheimer Maintains Outperform on Acuity Brands, Raises Price Target to $315

Wells Fargo analyst Joseph O'Dea maintains Acuity Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYI#NYSE">AYI</a>) with a Overweight and raises the price target from $260 to $295.

Wells Fargo Maintains Overweight on Acuity Brands, Raises Price Target to $295

The CNN Money Fear and Greed index showed some improvement in overall market sentiment on Wednesday, but it remained in the &quot;Greed&quot; zone.
U.S. stocks closed mixed on Wednesday, with the Dow Jones index recording losses for the third consecutive session.
On the economic data front, private businesses in the U.S. added 184,000 workers in March, compared to a revised 155,000 gain in February and topping market estimates of 148,000. The ISM services PMI declined to 51.4 in March, compared to February&rsquo;s reading of 52.6 and market estimates of 52.7.
Intel Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/intc#NASDAQ">INTC</a>) shares dipped more than 8% on Wednesday after the company disclosed its foundry segment had a $7 billion operating loss in 2023. Intel is scheduled to report first-quarter 2024 financial results on April 25, 2024. Acuity Brands, Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ayi#NYSE">AYI</a>) reported better-than-expected earnings for its second quarter.
Most sectors on the S&amp;P 500 closed on a positive note, with communication services, energy, and materials stocks recording the biggest gains on Wednesday. However, utilities and consumer staples bucked the overall market trend, closing the session lower.
The Dow Jones closed lower by around 43 points to 39,127.14 on Wednesday. The S&amp;P 500 rose 0.11% at 5,211.49, while the Nasdaq Composite gained 0.23% at 16,277.46 during Wednesday&rsquo;s session.
Investors are awaiting earnings results from Lamb Weston Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lw#NYSE">LW</a>), RPM International Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rpm#NYSE">RPM</a>) and Conagra Brands, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cag#NYSE">CAG</a>) today.
At a current reading of 61.7, the index remained in the &quot;Greed&quot; zone on Wednesday, versus a prior reading of 59.7.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
&nbsp;
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38083957/rpm-international-earnings-are-imminent-these-most-accurate-analysts-revise-forecasts-ahead-of-earn"> RPM International Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a>

U.S. stocks traded higher toward the end of trading, with the S&amp;P 500 gaining around 0.3% on Wednesday.
The Dow traded up 0.08% to 39,200.08 while the NASDAQ rose 0.46% to 16,315.68. The S&amp;P 500 also rose, gaining, 0.31% to 5,221.70.
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&nbsp;
<h3>Leading and Lagging Sectors</h3>
&nbsp;
Industrials shares jumped by 0.8% on Wednesday.
In trading on Wednesday, consumer staples shares fell by 0.9%.
&nbsp;
<h3>Top Headline</h3>
&nbsp;
Acuity Brands, Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ayi#NYSE">AYI</a>) reported better-than-expected earnings for its second quarter.
The company posted a quarterly net sales decline of 4.0% year-over-year to $905.9 million, missing the consensus of $907.7 million. It clocked an adjusted EPS of $3.38, beating the consensus of $3.25.
&nbsp;
<h3>Equities Trading UP</h3>
&nbsp;
Kintara Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ktra#NASDAQ">KTRA</a>) shares shot up 63% to $0.1637 after the company entered a merger agreement with TuHURA Biosciences.
Shares of ARCA biopharma, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/abio#NASDAQ">ABIO</a>) got a boost, surging 78% to $3.04 after the company and Oruka Therapeutics announced a merger agreement.
Vanda Pharmaceuticals Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vnda#NASDAQ">VNDA</a>) shares were also up, gaining 32% to $5.17 after the company&#39;s Fanapt received FDA approval for the acute treatment of bipolar I disorder.
&nbsp;
<h3>Equities Trading DOWN</h3>
&nbsp;
Casa Systems, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/casa#NASDAQ">CASA</a>) shares dropped 81% to $0.0485 after the Company filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court.
Shares of View, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/view#NASDAQ">VIEW</a>) were down 63% to $0.4020 after the company filed for Chapter 11 bankruptcy. The company on Tuesday said it reached a real with Cantor Fitzgerald and RXR to become a private company.
Sintx Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sint#NASDAQ">SINT</a>) was down, falling 46% to $0.0227 after the company announced pricing of a $1.5 million public offering of common stock.
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&nbsp;
<h3>Commodities</h3>
&nbsp;
In commodity news, oil traded up 0.5% to $85.61 while gold traded up 1.4% at $2,313.90.
Silver traded up 4.1% to $26.995 on Wednesday, while copper rose 2.9% to $4.1865.
&nbsp;
<h3>Euro zone</h3>
&nbsp;
European shares closed higher today. The eurozone&rsquo;s STOXX 600 rose 0.29%, London&rsquo;s FTSE 100 rose 0.03% while Spain&rsquo;s IBEX 35 Index rose 0.52% The German DAX rose 0.46% French CAC 40 rose 0.29% while Italy&rsquo;s FTSE MIB Index rose 0.45%.
The consumer price inflation rate in the eurozone eased to 2.4% year-over-year in March, compared to market expectations of 2.6%, while the unemployment rate in the eurozone came in at 6.5% in February, versus market estimates of 6.4%.
&nbsp;
<h3>Asia Pacific Markets</h3>
&nbsp;
Asian markets closed lower on Wednesday, with Japan&rsquo;s Nikkei 225 falling 0.97%, Hong Kong&rsquo;s Hang Seng Index dipping 1.22%, China&rsquo;s Shanghai Composite Index falling 0.18% and India&rsquo;s S&amp;P BSE Sensex falling 0.1%.
Retail sales in Hong Kong climbed 0.5% year-over-year in February following a 1.2% decline in the prior month. The Caixin China General Services PMI rose to 52.7 in March from 52.5 in February, while composite PMI rose to 52.7 in March from 52.5 in the previous two months.
The au Jibun Bank Japan services PMI fell to 54.1 in March from a preliminary level 54.9, while composite PMI fell to 51.7 in March versus a flash reading of 52.3.
&nbsp;
<h3>Economics</h3>
&nbsp;
Mortgage applications in the U.S. declined by 0.6% on the week ending March 29, 2024.
Private businesses in the U.S. added 184,000 workers in March compared to a revised 155,000 gain in February, and topping market estimates of 148,000.
The S&amp;P Global composite PMI was revised lower to 52.1 in March from a preliminary reading of 52.2.
The ISM services PMI declined to 51.4 in March compared to February&rsquo;s reading of 52.6 and compared to market estimates of 52.7.
U.S. crude oil inventories increased by 3.21 million barrels in the week ended March 29, 2024, compared to market estimates of a 1.511 million decline, the EIA said.
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Lighting and Building Management firm&nbsp;Acuity Brands, Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYI#NYSE">AYI</a>) reported a second-quarter fiscal 2024 net sales decline of 4.0% year-over-year to $905.9 million, missing the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/g38064225/acuity-brands-reports-fiscal-2024-second-quarter-results" rel="noreferrer noopener">consensus of $907.7 million</a>.&nbsp;
It clocked an adjusted EPS of $3.38, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $3.25</a>.
Sales by segments:&nbsp;Acuity Brands Lighting (ABL) and Lighting Controls revenue hit $843.5 million (-5.3% Y/Y), and Intelligent Spaces Group (ISG) clocked $68.1 million (+17.0% Y/Y).
The consolidated adjusted operating margin grew by 150 bps to 15.5%. ABL&#8217;s adjusted operating margin expanded by 120 bps to 16.2%. ISG&#8217;s margin increased by 240 bps to 21.0%.
The company generated $292.6 million in operating cash flow for the first half of fiscal 2024, a decrease of $13.8 million compared to the prior year. Adjusted EBITDA was $153.0 million, up from $144.8 million a year ago.&nbsp;
Chair and CEO Neil Ashe said, &#8220;We increased our adjusted operating profit, adjusted operating profit margin, and adjusted diluted earnings per share. We generated strong free cash flow, and we allocated capital effectively to drive value.&#8221;
AYI stock gained 43% in the last 12 months. Investors can gain exposure to the stock via&nbsp;First Trust NASDAQ Clean Edge Green Energy Index Fund&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQ">QCLN</a>) and&nbsp;SPDR S&amp;P Kensho Intelligent Structures ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIMS#NYSE">SIMS</a>).
Price Action:&nbsp;AYI shares are up 0.83% at $264.00 premarket on the last check Wednesday.

Lighting Company Acuity Brands' Q2 Sales Dip But Profits and Margins Rise

Gloom persists on Wall Street as stock futures point to a sluggish start on Wednesday, with the tech space potentially pressured by recent setbacks and&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38062166/taiwan-shaken-by-massive-7-2-magnitude-earthquake-forcing-tsmc-to-suspend-chip-production" rel="noreferrer noopener">the earthquake in Taiwan</a>, home to several tech industry suppliers. Traders also face key data on services and jobs, along with remarks from several&nbsp;Federal Reserve&nbsp;officials.
Cues From Previous Session:
Rate worries weighed heavily on Tuesday, pushing all major averages down by more than 2%. Tuesday&#8217;s data releases, including a rebound in manufacturing activity and in-line job openings, reinforced concerns about a strong economy that could prompt the Fed to raise interest rates more aggressively. The indices opened significantly lower and remained flat for most of the session, with the Dow Jones Industrial Average and the S&amp;P 500 ending lower for a second consecutive day.
The sell-off was broad-based, with consumer discretionary, healthcare, and real estate stocks leading the decline. Energy stocks, on the other hand, rallied strongly on continued oil price strength, while utility and communication services edged higher. 
The Dow and Nasdaq Composite closed at their lowest points in two weeks, reflecting broader market anxieties.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.95%</td>
<td>16,240.45</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.72%</td>
<td>5,205.81</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-1.00%</td>
<td>39,170.24</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-1.80%</td>
<td>2,065.04</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Notwithstanding the recent lean patch, a fund manager is optimistic about a near-term recovery. &#8220;Spring is a happy time of year.  This good feeling rubs off on the stock market since April is a seasonally strong month,&#8221; said fund Louis Navellier. Citing Bespoke data, he said the Dow Industrials has posted an average April gain of 2.2% in the past 50 years.  
Navellier also sees another reason to be optimistic. &#8220;The other reason that April is such a strong month is due to annual pension funding before taxes are filed,&#8221; he said.
Futures Today
 Futures Performance On Wednesday ( as of 7 a.m. EDT)
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.21%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.07%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.01%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.05%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Wednesday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) slipped 0.05% to $518.35,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.23% to $440.11 according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Upcoming Economic Data:
ADP is scheduled to release its March private payrolls report at 8:15 a.m. EDT. Economists, on average, expect, the private sector to have added 155,000 jobs compared to the 140,000 number for February.
S&amp;P Global will release its final service sector PMI for March at 9:45 a.m. EDT. The flash reading released last month came in at 51.7, down from 54.6 in February.
The ISM&#8217;s non-manufacturing PMI, due at 10 a.m. EDT, is widely expected to remain flattish at 52.7 for March.
The Energy Information Administration will release its customary weekly petroleum status report at 10:30 a.m. EDT.
Among the Fed speeches for the day are:
<ul>
<li>Fed Governor Michelle Bowman: 9:45 a.m. EDT</li>
<li>New York Fed President John Williams: noon EDT</li>
<li>Fed Chair Powell: 12:10 p.m. EDT</li>
<li>Fed Vice Chair for Supervisions Michael Barr: 1:10 p.m. EDT</li>
</ul>
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Stocks In Focus:
<ul>
<li>Dave &amp; Buster&#8217;s Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAY#NASDAQ">PLAY</a>) rallied over 7% <a href="https://www.benzinga.com/premarket">in premarket trading </a>following its results announcement, and Cal-Maine Foods, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CALM#NASDAQ">CALM</a>) jumped over 8%.</li>
<li>Acuity Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYI#NYSE">AYI</a>) slipped nearly 2% in reaction to its quarterly results.</li>
<li>BlackBerry Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BB#NYSE">BB</a>), Levi Strauss &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEVI#NYSE">LEVI</a>), and Resources Connection, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGP#NASDAQ">RGP</a>) are among the companies <a href="https://www.benzinga.com/calendars/earnings">due to release their quarterly earnings </a>on Wednesday.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) declined about 1% in the follow-through sell-off post-first-quarter deliveries report.</li>
<li>Chipmaker Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) fell over 4% after its foundry unit posted a nearly $7 billion operating loss in 2023</li>
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) also slipped after their foundry Taiwan Semiconductor Manufacturing Company Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) was forced to evacuate its factory following an earthquake in the country.</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures rallied yet again on Wednesday and were closing in on the $86-a-barrel mark, while gold futures continued their record run. The yield on the benchmark 10-year Treasury remained flattish after the surge on Tuesday.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was flatlining and traded shy of the $66,000 level.
In equity markets, Asian stocks fell across the board on souring rate-cut hopes, while the major European stocks traded mostly higher amid the release of some weak domestic economic data.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38047230/historic-s-p-500-rally-in-q1-flashes-bullish-signals-for-2024-only-the-ninth-time-s">Historic S&amp;P 500 Rally In Q1 Flashes Bullish Signals For 2024: &#8216;Only The Ninth Time Since 1940&#8217;</a>
Photo by Tada Images on Shutterstock

Equities

Futures

Previews

Economics

Federal Reserve

Movers

$BTC

CALM

LEVI

NVDA

PLAY

TSLA

Wall Street Set To Stumble At Open As Traders Eye Key Data, Fed Chair Powell's Speech: Analyst Finds 2 Reasons To Stay Optimistic In April

Acuity Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYI#NYSE">AYI</a>) reported quarterly earnings of $3.38 per share which beat the analyst consensus estimate of $3.25 by 4 percent. This is a 10.46 percent increase over earnings of $3.06 per share from the same period last year. The company reported quarterly sales of $905.90 million which missed the analyst consensus estimate of $907.75 million by 0.20 percent. This is a 4.00 percent decrease over sales of $943.60 million the same period last year.

Acuity Brands Q2 Adj EPS $3.38 Beats $3.25 Estimate, Sales $905.90M Miss $907.75M Estimate

<h3>Companies Reporting Before The Bell</h3>
&bull; Acuity Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYI#NYSE">AYI</a>) is projected to report quarterly earnings at $3.25 per share on revenue of $907.75 million.
&bull; Icecure Medical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICCM#NASDAQ">ICCM</a>) is estimated to report quarterly loss at $0.32 per share on revenue of $3.14 million.
&bull; Quhuo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QH#NASDAQ">QH</a>) is expected to report earnings for its Fiscal Year 2023.
&bull; BiomX (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/PHGE#AMEX">PHGE</a>) is estimated to report earnings for its fourth quarter.
<h3>Companies Reporting After The Bell</h3>
&bull; BM Technologies (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BMTX#AMEX">BMTX</a>) is projected to report quarterly loss at $0.25 per share on revenue of $14.95 million.
&bull; Novagold Resources (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/NG#AMEX">NG</a>) is expected to report earnings for its first quarter.
&bull; Levi Strauss (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEVI#NYSE">LEVI</a>) is likely to report quarterly earnings at $0.21 per share on revenue of $1.55 billion.
&bull; Resources Connection (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGP#NASDAQ">RGP</a>) is projected to report quarterly earnings at $0.05 per share on revenue of $152.77 million.
&bull; Sportsman&#39;s Warehouse (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPWH#NASDAQ">SPWH</a>) is expected to report quarterly loss at $0.30 per share on revenue of $372.62 million.
&bull; BlackBerry (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BB#NYSE">BB</a>) is expected to report quarterly loss at $0.03 per share on revenue of $154.59 million.
&bull; Simulations Plus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLP#NASDAQ">SLP</a>) is expected to report quarterly earnings at $0.19 per share on revenue of $17.28 million.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

BMTX

ICCM

PHGE

SPWH

Earnings Scheduled For April 3, 2024

The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the &quot;Greed&quot; zone on Tuesday.
U.S. stocks closed lower on Tuesday, with the Dow Jones index recording losses for the second straight session. The 30-stock Dow also recorded its worst day since March 5.
On the economic data front, U.S. factory orders increased by 1.4% from the prior month to $576.8 billion in February, following a revised 3.8% decline in January. The number of job openings rose by 8,000 from the prior month to 8.756 million in February compared to market estimates of 8.75 million.
VivoPower International PLC (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vvpr#NASDAQ">VVPR</a>) shares jumped around 304% on Tuesday after the company&#39;s Tembo subsidiary announced it will merge with the Nasdaq-listed Cactus Acquisition Corp. 1 Limited.
Most sectors on the S&amp;P 500 closed on a negative note, with health care, consumer discretionary and real estate stocks recording the biggest losses on Tuesday. However, utilities and energy bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 397 points to 39,170.24 on Tuesday. The S&amp;P 500 fell 0.72% at 5,205.81, while the Nasdaq Composite dipped 0.95% at 16,240.45 during Tuesday&rsquo;s session.
Investors are awaiting earnings results from Sportsman&#39;s Warehouse Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/spwh#NASDAQ">SPWH</a>), Sportsman&#39;s Warehouse Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/levi#NYSE">LEVI</a>) and Acuity Brands, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ayi#NYSE">AYI</a>) today.
At a current reading of 63.2, the index remained in the &quot;Greed&quot; zone on Tuesday, versus a prior reading of 64.5.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
&nbsp;
Read Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38046482/insiders-buying-westlake-chemical-partners-and-2-other-stocks"> Insiders Buying Westlake Chemical Partners And 2 Other Stocks</a>

VVPR

Investor Sentiment Declines, Dow Falls For Second Session

With U.S. stock futures trading lower this morning on Wednesday, some of the stocks that may grab investor focus today are as follows:
Wall Street expects Acuity Brands, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ayi#NYSE">AYI</a>) to report quarterly earnings at $3.25 per share on revenue of $907.75 million before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Acuity Brands shares fell 1.3% to close at $261.83 on Tuesday.
Cal-Maine Foods, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/calm#NASDAQ">CALM</a>) reported upbeat results for its fourth quarter. The company&nbsp;reported quarterly earnings of&nbsp;$3.00&nbsp;per share which beat the analyst consensus estimate of&nbsp;$2.46 per share. Cal-Maine Foods shares surged 7% to $63.05 in the after-hours trading session.
Analysts are expecting Levi Strauss &amp; Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/levi#NYSE">LEVI</a>) to have earned 21 cents per share on revenue of $1.55 billion. The company will release earnings after the markets close. Levi Strauss shares rose 0.3% to $18.80 in the after-hours trading session.
Check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
View, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/view#NASDAQ">VIEW</a>) shares fell sharply during Tuesday&rsquo;s after-hours trading after the company reached a real with Cantor Fitzgerald and RXR to become a private company. View shares tumbled 53.7% to $0.5099 in the after-hours trading session.
Analysts expect BlackBerry Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bb#NYSE">BB</a>) to post a quarterly loss at 3 cents per share on revenue of $154.78 million after the closing bell. BlackBerry shares slipped 0.01% to $2.7997 in after-hours trading.
&nbsp;
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38039647/jim-cramer-says-ka-ching-for-this-airline-stock-plus-ring-the-register-for-kodiak"> Jim Cramer Says &#39;Ka-Ching&#39; For This Airline Stock, Plus: &#39;Ring The Register&#39; For Kodiak </a>

Small Cap

Acuity Brands, Cal-Maine Foods And 3 Stocks To Watch Heading Into Wednesday

Acuity Brands, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ayi#NYSE">AYI</a>) is scheduled to release earnings results for its second quarter, before the <a href="https://www.benzinga.com/quote/AYI/earnings">opening bell on April 3, 2024.</a>
Analysts expect the company to report quarterly earnings at $3.25 per share, up from $3.06 per share in the year-ago period. The company is projected to post revenue of $908.75 million for the quarter, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Jan. 25, Acuity Brands raised its quarterly dividend from 13 cents to 15 cents per share and the company&#39;s board also authorized an additional 3 million share repurchase.
Acuity Brands shares fell 1.3% to close at $261.83 on Tuesday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie"> Analyst Stock Ratings </a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let&rsquo;s have a look at how Benzinga&rsquo;s most-accurate <a href="https://www.benzinga.com/quote/AYI/analyst-ratings"> analysts have rated the company </a> in the recent period.
<ul>
<li>Baird analyst Timothy Wojs maintained a Neutral rating and raised the price target from $236 to $286 on March 26, 2024. This analyst has an accuracy rate of 72%.</li>
<li>Wells Fargo analyst Joseph O&rsquo;Dea maintained an Overweight rating and boosted the price target from $200 to $236 on Dec. 19, 2023. This analyst has an accuracy rate of 62%.</li>
<li>Oppenheimer analyst Christopher Glynn reiterated an Outperform rating with a price target of $210 on April 11, 2023. This analyst has an accuracy rate of 82%.</li>
</ul>
&nbsp;
Read This Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38046482/insiders-buying-westlake-chemical-partners-and-2-other-stocks"> Insiders Buying Westlake Chemical Partners And 2 Other Stocks </a>

Acuity Brands Likely To Report Higher Q2 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Acuity Brands, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ayi#NYSE">AYI</a>) is scheduled to release earnings results for its second quarter, before the opening bell on April 3, 2024.
Analysts expect the company to report quarterly earnings at $3.25 per share, up from $3.06 per share in the year-ago period. The company is projected to post revenue of $908.75 million for the quarter, according to data from Benzinga Pro.
On Jan. 25, Acuity Brands raised its quarterly dividend from 13 cents to 15 cents per share and the company&#39;s board also authorized an additional 3 million share repurchase.
With the recent buzz around Acuity Brands, some investors may be eyeing potential gains from the company&rsquo;s dividends. As of now, Acuity Brands has a dividend yield of 0.23%, which is a quarterly dividend amount of 15 cents a share (60 cents a year).
To figure out how to earn $500 monthly from Acuity Brands, we start with the yearly target of $6,000 ($500 x 12 months).
Next, we take this amount and divide it by Acuity Brands&rsquo; $0.60 dividend: $6,000 / $0.60 = 10,000 shares
So, an investor would need to own approximately $2,651,400 worth of Acuity Brands, or 10,000 shares to generate a monthly dividend income of $500.
Assuming a more conservative goal of $100 monthly ($1,200 annually), we do the same calculation: $1,200 / $0.60 = 2,000 shares, or $530,280 to generate a monthly dividend income of $100.
Also Read: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38024169/insiders-buying-outlook-therapeutics-and-2-other-stocks"> Insiders Buying Outlook Therapeutics And 2 Other Stocks </a>
Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price both fluctuate over time.
The dividend yield is calculated by dividing the annual dividend payment by the current stock price. As the stock price changes, the dividend yield will also change.
For example, if a stock pays an annual dividend of $2 and its current price is $50, its dividend yield would be 4%. However, if the stock price increases to $60, the dividend yield would decrease to 3.33% ($2/$60).
Conversely, if the stock price decreases to $40, the dividend yield would increase to 5% ($2/$40).
Further, the dividend payment itself can also change over time, which can also impact the dividend yield. If a company increases its dividend payment, the dividend yield will increase even if the stock price remains the same. Similarly, if a company decreases its dividend payment, the dividend yield will decrease.
AYI Price Action: Shares of Acuity Brands fell 1.3% to close at $265.14 on Thursday.
Read More: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38016520/jim-cramer-says-chevron-is-doing-pretty-well-will-give-this-pharma-giant-a-chance"> Jim Cramer Says Chevron Is Doing &#39;Pretty Well,&#39; Will Give This Pharma Giant &#39;A Chance&#39; </a>
Image generated using artificial intelligence via Midjourney.

Long Ideas

Dividends

How To Earn $500 A Month From Acuity Brands Stock Ahead Of Q2 Earnings

Baird analyst Timothy Wojs maintains Acuity Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYI#NYSE">AYI</a>) with a Neutral and raises the price target from $236 to $286.

Baird Maintains Neutral on Acuity Brands, Raises Price Target to $286

Thursday marks the last chance for investors to receive the next dividend payout from Acuity Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYI#NYSE">AYI</a>). 
<h3>What's Happening</h3>
The company announced on Thursday that it would pay shareholders a quarterly dividend of 15 cents per share. On Friday, Acuity Brands will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 15 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Friday. Shareholders who own AYI as of the end of Thursday's session are eligible to receive the 15 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on February 14, 2024. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
<a href="https://www.benzinga.com/quote/AYI">Track real-time stock fluctuations for Acuity Brands on Benzinga.</a>

Acuity Brands's Ex-Dividend Date Is Friday, Here's What You Need To Know

Buybacks

Acuity Brands Increases Quarterly Dividend From $0.13 To $0.15/Share; Board Also Authorizes Additional 3M Share Repurchase

The Nasdaq 100 closed slightly higher on Thursday. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company&rsquo;s prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>QUALCOMM </h3>
<ul>
<li>The Trade: QUALCOMM Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qcom#NASDAQ">QCOM</a>) Chief Commercial Officer James J Cathey <a href="https://www.benzinga.com/sec/insider-trades/"> sold a total of 1,000 shares </a> at an average price of $139.00. The insider received around $139,000 from selling those shares.</li>
<li>What&rsquo;s Happening: Qualcomm&rsquo;s Qualcomm Technologies announced the Snapdragon XR2+ Gen 2 Platform, a single-chip architecture that unlocks 4.3K spatial computing at 90 frames per second for to achieve improved visual clarity for work and play.</li>
<li>What QUALCOMM Does: Qualcomm develops and licenses wireless technology and designs chips for smartphones.</li>
</ul>
Have a look at our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
<h3>Box</h3>
<ul>
<li>The Trade: Box, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/box#NYSE">BOX</a>) CFO Dylan Smith <a href="https://www.benzinga.com/sec/insider-trades/"> sold a total of 13,000 shares </a> at an average price of $24.91. The insider received around $323,882 from selling those shares. The company&rsquo;s VP Chief Acct Ofr &amp; Controller also sold 7,750 shares of the company.</li>
<li>What&rsquo;s Happening: UBS initiated coverage on the stock with a Buy rating and $33 price target.</li>
<li>What Box Does: Box is a cloud-based content services platform that provides cloud-based storage and workflow collaboration services for enterprise customers.</li>
</ul>
<h3>Acuity Brands </h3>
<ul>
<li>The Trade: Acuity Brands, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ayi#NYSE">AYI</a>) SVP &amp; General Counsel Barry R Goldman <a href="https://www.benzinga.com/sec/insider-trades/"> sold a total of 1,900 shares </a> at an average price of $226.01. The insider received around $429,419 from selling those shares.</li>
<li>What&rsquo;s Happening: Acuity Brands reported better-than-expected first-quarter financial results.</li>
<li>What Acuity Brands Does: Acuity Brands Inc is the parent company of Acuity Brands Lighting and other subsidiaries, which provide lighting products for commercial, institutional, industrial, and residential applications.</li>
</ul>
<h3>NetApp </h3>
<ul>
<li>The Trade: NetApp, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ntap#NASDAQ">NTAP</a>) EVP Finance &amp; Operations, CFO Michael J Berry <a href="https://www.benzinga.com/sec/insider-trades/"> sold a total of 15,000 shares </a> at an average price of $86.11. The insider received around $1.29 million from selling those shares.</li>
<li>What&rsquo;s Happening: JP Morgan analyst Samik Chatterjee recently downgraded NetApp from Neutral to Underweight and announced an $87 price target.</li>
<li>What NetApp Does: NetApp Inc is a leading provider of enterprise data management and storage solutions.</li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/01/36606238/citigroup-bank-of-america-and-3-stocks-to-watch-heading-into-friday"> Citigroup, Bank of America And 3 Stocks To Watch Heading Into Friday </a>
&nbsp;

Short Ideas

Insider Trades

NTAP

QCOM

Qualcomm, NetApp And 2 Other Stocks Insiders Are Selling

Shares of JetBlue Airways Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jblu#NASDAQ">JBLU</a>) fell sharply during Tuesday&rsquo;s session.
JetBlue&rsquo;s President &amp; COO Joanna Geraghty will succeed Robin Hayes as CEO, effective Feb. 12, 2024. B of A Securities analyst Andrew Didora downgrades JetBlue Airways from Neutral to Underperform and lowered the price target from $6 to $3.
JetBlue Airways shares dipped 10.9% to $5.13 on Tuesday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>NexImmune, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nexi#NASDAQ">NEXI</a>) shares jumped 89.2% to $14.32.</li>
<li>Sentage Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sntg#NASDAQ">SNTG</a>) shares climbed 65.3% to $3.52.</li>
<li>MicroCloud Hologram Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/holo#NASDAQ">HOLO</a>) gained 41.9% to $0.3450.</li>
<li>Cutera, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cutr#NASDAQ">CUTR</a>) surged 28.2% to $4.2150. Cutera said it expects FY23 revenue of $211.5 million to $212.5 million versus prior guidance of $205 million.</li>
<li>Virios Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/viri#NASDAQ">VIRI</a>) shares rose 28% to $0.7520.</li>
<li>Galera Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/grtx#NASDAQ">GRTX</a>) jumped 26% to $0.1880.</li>
<li>Adicet Bio, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acet#NASDAQ">ACET</a>) gained 26% to $3.10.</li>
<li>NGM Biopharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ngm#NASDAQ">NGM</a>) gained 24.6% to $1.5700. NGM Bio announced clinical data from trial of NGM707 In advanced solid tumors and outlines evolved strategy for aldafermin and NGM120.</li>
<li>Galera Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/grtx#NASDAQ">GRTX</a>) gained 23.5% to $0.1844.</li>
<li>Juniper Networks, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jnpr#NYSE">JNPR</a>) rose 21.5% to $36.71. Hewlett Packard Enterprise Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hpe#NYSE">HPE</a>) is reportedly in advanced discussions to acquire networking equipment competitor Juniper Networks.</li>
<li>LeddarTech Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ldtc#NASDAQ">LDTC</a>) gained 19.1% to $3.99. LeddarTech launched LeddarVision Surround-View (LVS-2+), a premium highway assist software stack on an embedded platform, at CES 2024.</li>
<li>cbdMD, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ycbd#NYSE">YCBD</a>) rose 18.7% to $0.8680.</li>
<li>Accolade, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/accd#NASDAQ">ACCD</a>) climbed 17.2% to $13.61 following third-quarter results.</li>
<li>Century Aluminum Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cenx#NASDAQ">CENX</a>) jumped 14.4% to $12.18. B. Riley Securities upgraded Century Aluminum from Neutral to Buy and raised the price target from $10 to $14.</li>
<li>ACM Research, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acmr#NASDAQ">ACMR</a>) gained 12.8% to $19.22. ACM Research said it sees FY23 revenue of $530 million to $545 million.</li>
<li>Jowell Global Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jwel#NASDAQ">JWEL</a>) gained 10.8% to $2.25.</li>
<li>Acuity Brands, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ayi#NYSE">AYI</a>) jumped 10.2% to $225.51 after the company reported better-than-expected first-quarter earnings.</li>
<li>Zoomcar Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zcar#NASDAQ">ZCAR</a>) rose 10.1% to $4.37.</li>
<li>Urban Outfitters, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/urbn#NASDAQ">URBN</a>) gained 9.1% to $39.17 after the company reported a 10% increase in total company net sales for the two months ended Dec. 31, 2023.</li>
<li>Illumina, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ilmn#NASDAQ">ILMN</a>) rose 8.2% to $144.72 after the company reported preliminary FY23 consolidated revenue guidance above estimates.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Denali Capital Acquisition Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/deca#NASDAQ">DECA</a>) shares fell 28.6% to $7.80.</li>
<li>Top KingWin Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tcjh#NASDAQ">TCJH</a>) fell 26% to $0.8660 after dipping 39% on Monday.</li>
<li>Grifols, S.A. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/grfs#NASDAQ">GRFS</a>) shares fell 24.6% to $8.39 following a report from Gotham City Research titled &quot;Grifols SA: Scranton and the Undisclosed Debts.&quot;</li>
<li>Pono Capital Three, Inc. (NASDAQ: PTHR) declined 22.4% to $7.64.</li>
<li>Nauticus Robotics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kitt#NASDAQ">KITT</a>) dipped 20.6% to $0.2920.</li>
<li>E-Home Household Service Holdings Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ejh#NASDAQ">EJH</a>) fell 17.5% to $0.4291.</li>
<li>Safe and Green Development Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sgd#NASDAQ">SGD</a>) dipped 16.8% to $1.53. Safe and Green Development announced strategic property monetization initiative throughout 2024.</li>
<li>Ainos, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aimd#NASDAQ">AIMD</a>) fell 16% to $2.42.</li>
<li>The Container Store Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tcs#NYSE">TCS</a>) dipped 15.2% to $1.9599. The Container Store Group said it sees third-quarter net sales of $214 million versus estimates of $225.38 million.</li>
<li>Canoo Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goev#NASDAQ">GOEV</a>) shares fell 14.1% to $0.2163. Canoo shares gained around 6% on Monday after the company announced the purchase of manufacturing assets &quot;at dramatically reduced prices&quot; to scale production at its Oklahoma City facility.</li>
<li>KORE Group Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kore#NYSE">KORE</a>) dipped 10.7% to $0.9099.</li>
<li>Bit Brother Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bets#NASDAQ">BETS</a>) fell 10.7% to $0.0058 after dipping 15% on Monday. Bit Brother announced a 1-for-1,000 reverse share split.</li>
<li>Tilray Brands, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tlry#NASDAQ">TLRY</a>) fell 9.6% to $2.1150 following weak quarterly sales.</li>
<li>MorphoSys AG (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mor#NASDAQ">MOR</a>) dipped 9.1% to $9.18.</li>
<li>Neogen Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/neog#NASDAQ">NEOG</a>) fell 8.6% to $18.14 after the company reported worse-than-expected second-quarter financial results and lowered its FY24 sales guidance below estimates.</li>
<li>Unity Software Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/u#NYSE">U</a>) fell 8% to $35.85 after it disclosed a job cut.</li>
<li>Bowlero Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bowl#NYSE">BOWL</a>) declined 7.6% to $12.62.</li>
<li>Hewlett Packard Enterprise Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hpe#NYSE">HPE</a>) fell 7.5% to $16.42. HP might be on the verge of acquiring Juniper Networks, in a deal possibly worth around $13 billion. The announcement could be made as early as this week, according to The Wall Street Journal.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/01/36550880/i-think-you-have-a-winner-and-it-is-just-on-fire-jim-cramer-on-this-brazilian-stock"> &#39;I Think You Have A Winner, And It Is Just On Fire&#39;: Jim Cramer On This Brazilian Stock</a>

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Why JetBlue Airways Shares Are Trading Lower By Over 10%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session

<h3>Gainers</h3>
<ul>
<li>Sentage Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNTG#NASDAQ">SNTG</a>) stock increased by 57.9% to $3.36 during Tuesday's regular session. The market value of their outstanding shares is at $9.4 million. </li>
<li>Zoomcar Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZCAR#NASDAQ">ZCAR</a>) stock increased by 40.05% to $5.56. The market value of their outstanding shares is at $238.3 million. </li>
<li>Applied UV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUVI#NASDAQ">AUVI</a>) shares increased by 22.8% to $2.8. The market value of their outstanding shares is at $3.4 million. </li>
<li>Terran Orbital (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLAP#NYSE">LLAP</a>) stock moved upwards by 15.09% to $1.04. The market value of their outstanding shares is at $202.2 million. </li>
<li>Wheels Up Experience (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UP#NYSE">UP</a>) shares increased by 12.47% to $4.78. The market value of their outstanding shares is at $3.3 billion. </li>
<li>Acuity Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYI#NYSE">AYI</a>) shares moved upwards by 10.87% to $226.75. The company's market cap stands at $7.0 billion. As per the news, the Q1 earnings report came out today. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Nauticus Robotics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KITT#NASDAQ">KITT</a>) shares fell 22.3% to $0.29 during Tuesday's regular session. The company's market cap stands at $14.3 million. </li>
<li>C3is (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CISS#NASDAQ">CISS</a>) stock fell 15.67% to $0.49. The company's market cap stands at $4.2 million. </li>
<li>JetBlue Airways (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) shares decreased by 10.68% to $5.14. The market value of their outstanding shares is at $1.7 billion. </li>
<li>Ault Alliance (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/AULT#AMEX">AULT</a>) stock decreased by 9.11% to $0.07. The company's market cap stands at $5.0 million. </li>
<li>VCI Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCIG#NASDAQ">VCIG</a>) shares decreased by 8.74% to $1.88. The company's market cap stands at $71.4 million. </li>
<li>Complete Solaria (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSLR#NASDAQ">CSLR</a>) shares decreased by 8.67% to $1.37. The market value of their outstanding shares is at $64.1 million. 
See Also: <a href="http://www.benzinga.com/money/best-industrials-stocks/" title="www.benzinga.com/money/best-industrials-stocks/">www.benzinga.com/money/best-industrials-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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