CAE (NYSE:CAE) Stock, Quote.Headers.trade-ideas

CAE Inc provides training and aviation services, integrated enterprise solutions, in-service support, and crew-sourcing services. The company operations are managed through two segments: Civil Aviation which offers comprehensive training solutions for flight, cabin, maintenance, and ground personnel in commercial, business, and helicopter aviation, a complete range of flight simulation training devices, ab initio pilot training, and crew sourcing services, as well as aircraft flight operations solutions; and Defense and Security which is a global training and simulation provider delivering scalable, platform-independent solutions that enable and enhance force readiness and security. It generates the majority of its revenue from the Civil Aviation segment.

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Why XP Shares Are Trading Lower By Around 12%? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

Earnings

Embraer-Empresa Brasileira De Aeronautica

LDOS

The first-quarter reporting cycle for defense stocks, which are housed within the broader Aerospace sector, is underway, with a handful of industry players having released mixed quarterly performance so far. In particular, while defense bigwigs like Northrop, L3Harris Technologies, Lockheed and RTX have beat on earnings, major contractors like General Dynamics and Textron lagged the same.

5 Defense Stocks Poised to Surpass Q1 Earnings Estimates

KULR

Market-Moving Exclusives

Exclusives

KULR Technology and H55 Inc. partner to develop sustainable electric propulsion systems for major firms like Pratt &amp; Whitney and CAE, meeting safety standards and advancing certification journey.

EXCLUSIVE: KULR Secures Over $1M Contract from H55 for Proprietary, Patented Thermal Runaway Shield Technology

CAE Inc

CAREER DESIGN CTR CO LTD by Career Design Center Co Ltd

Career Design Center Co Ltd

CALIF-ENGELS MINING CO by California-Engels Mining Co.

California-Engels Mining Co

CHINA EAST ED HLDGS LTD by CHINA EAST ED HOLDINGS LTD

China East Education Holdings Ltd

Caesars Entertainment, Inc. - Common Stock

Caesars Entertainment Inc

Caesarstone Ltd

Management

CAE Says CFO Sonya Branco Intends To Step Down From Her Position At The End Of August To Pursue Other Interests; Names Constantino Malatesta As Interim CFO

Jefferies analyst Sheila Kahyaoglu initiates coverage on CAE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAE#NYSE">CAE</a>) with a Hold rating and announces Price Target of $21.

Price Target

Initiation

Analyst Ratings

Jefferies Initiates Coverage On CAE with Hold Rating, Announces Price Target of $21

Contracts

CAE Defense & Security Awarded $250M Contract By General Atomics To Support Canada's MQ-9B SkyGuardian RPAS

CAE announced that its SkyAlyne joint venture was today awarded a C$11.2-billion, 25-year&nbsp;contract for Canada's Future Aircrew Training (FAcT) Program.&nbsp;
"CAE has proudly worked alongside the Royal Canadian Air Force (RCAF) for more than 75 years to design and deliver training, services, and technologies that support the mission readiness of Canada's aviators," said Marc Parent, CAE's President and Chief Executive Officer. "Today's announcement regarding the Future Aircrew Training Program is a significant achievement in the ongoing modernization efforts of Canada's defence forces. FAcT is a transformational win for SkyAlyne and CAE, laying the groundwork for training technologies and processes enabling mission readiness. As an industry leader in civil and defence simulation training and critical operations, CAE is proud to be part of the future of aircrew training to Canada."

CAE's SkyAlyne Joint Venture Awarded A 25-Year Contract For Canada's Future Aircrew Training Program Worth CDN$11.2 Billion

RBC Capital analyst James McGarragle maintains CAE (TSX:<a class="ticker" href="https://www.benzinga.com/stock/CAE#TSX">CAE</a>) with a Outperform and lowers the price target from C$34 to C$31.

TSX:CAE

RBC Capital Maintains Outperform on CAE, Lowers Price Target to C$31

CAE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAE#NYSE">CAE</a>) reported quarterly earnings of C$0.37 per share which missed the analyst consensus estimate of C$0.42 by 11.9 percent. This is a 12.12 percent increase over earnings of C$0.33 per share from the same period last year. The company reported quarterly sales of C$1.126 billion which missed the analyst consensus estimate of C$1.286 billion by 12.46 percent. This is a 5.93 percent decrease over sales of C$1.197 billion the same period last year.

Earnings Misses

Reported Monday, CAE Q4 2024 Adj EPS C$0.37 Misses C$0.42 Estimate, Sales C$1.126B Miss C$1.286B Estimate

Reported Monday, CAE Received Regulatory Approval for Normal Course Issuer Bid To Repurchase Up To 15.9M Common Shares

Shares of XP Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XP#NASDAQ">XP</a>) fell sharply during Wednesday's session after the company reported worse-than-expected <a href="https://www.benzinga.com/quote/XP/earnings">first-quarter EPS results</a>.
XP posted quarterly earnings of 37 cents per share, missing market estimates of 40 cents per share. The company's quarterly sales came in at $818.79 million versus expectations of $784.08 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
XP shares dipped 11.5% to $18.99 on Wednesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Akoustis Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKTS#NASDAQ">AKTS</a>) shares climbed 213.3% to $0.4254 after the company reportedly floated the probability of bankruptcy after losing a lawsuit against Qorvo.</li>
<li>Barnes &amp; Noble Education, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BNED#NYSE">BNED</a>) gained 119.7% to $1.1883 on continued volatility. Greenhaven last week said it continues to explore a possible transaction with the company.</li>
<li>Binah Capital Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BCG#NASDAQ">BCG</a>) gained 58.7% to $4.27.</li>
<li>Siyata Mobile Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYTA#NASDAQ">SYTA</a>) jumped 56% to $3.70 after the company announced the expansion of its SD7 rollout at Baha Mar Resort.</li>
<li>BuzzFeed, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZFD#NASDAQ">BZFD</a>) shares gained 48.2% to $3.71 after Vivek Ramaswamy disclosed a 7.7% stake in the company.</li>
<li>Oblong, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OBLG#NASDAQ">OBLG</a>) rose 36% to $0.2300.</li>
<li>Mustang Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBIO#NASDAQ">MBIO</a>) shares gained 27% to $0.3951 after falling over 8% on Tuesday.</li>
<li>DermTech, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DMTK#NASDAQ">DMTK</a>) rose 26% to $0.44.</li>
<li>IGM Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IGMS#NASDAQ">IGMS</a>) jumped 24% to $10.44.</li>
<li>Petco Health and Wellness Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WOOF#NASDAQ">WOOF</a>) gained 23% to $3.0201 following better-than-expected quarterly financial results.</li>
<li>FREYR Battery, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FREY#NYSE">FREY</a>) gained 22.8% to $2.42 after the company issued an operations update.</li>
<li>CureVac N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVAC#NASDAQ">CVAC</a>) jumped 20.3% to $3.9604.</li>
<li>Maxeon Solar Technologies, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAXN#NASDAQ">MAXN</a>) rose 20% to $3.2601. Maxeon Solar Technologies announced Nasdaq notification of non-compliance.</li>
<li>MGO Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGOL#NASDAQ">MGOL</a>) gained 15.6% to $1.4450. MGO Global shares jumped around 447% on Tuesday after the company posted a year-over-year increase in its first-quarter financial results.</li>
<li>Venus Concept Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERO#NASDAQ">VERO</a>) rose 12.8% to $0.7002.</li>
<li>LM Funding America, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LMFA#NASDAQ">LMFA</a>) shares climbed 12.2% to $3.67 after jumping around 15% on Tuesday. LM Funding America, last week, posted better-than-expected first-quarter earnings.</li>
<li>Daqo New Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DQ#NYSE">DQ</a>) gained 12.1% to $21.43.</li>
<li>SunPower Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPWR#NASDAQ">SPWR</a>) rose 10.5% to $3.0294 after the company announced it will now offer Tesla Powerwall 3 as part of its portfolio.</li>
<li>Novavax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) climbed 9.5% to $16.33. Shah Capital recently withdrew its proxy campaign against the re-election of directors at Novavax&#8217;s 2024 Annual Meeting.</li>
<li>Canadian Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>) rose 9.2% to $17.28. Roth MKM analyst Philip Shen maintained Canadian Solar with a Buy and maintained a $25 price target.</li>
<li>Brady Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRC#NYSE">BRC</a>) gained 8.6% to $65.48 after the company posted upbeat quarterly earnings and raised earnings guidance for FY24.</li>
<li>VS Media Holdings Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSME#NASDAQ">VSME</a>) gained 7.7% to $0.4065 after falling over 7% on Tuesday.</li>
<li>The TJX Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>) gained 6.8% to $104.32 following upbeat earnings.</li>
<li>Analog Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>) jumped 6% to $229.69 following better-than-expected second-quarter financial results.</li>
<li>Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) rose 5.6% to $151.80.</li>
<li>Williams-Sonoma, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>) gained 4.7% to $329.05 after the company reported first-quarter financial results.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Edible Garden AG Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EDBL#NASDAQ">EDBL</a>) shares fell 52.7% to $2.05 after the company announced the pricing of a $6 million public offering.</li>
<li>Oragenics, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGEN#NYSE">OGEN</a>) dipped 41.1% to $1.79. Oragenics named William &#8220;Frank&#8221; Peacock MD as Chief Clinical Officer.</li>
<li>Biodexa Pharmaceuticals Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BDRX#NASDAQ">BDRX</a>) fell 39% to $1.4192 after the company announced $7 million of gross proceeds from warrant exercises.</li>
<li>Hywin Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYW#NASDAQ">HYW</a>) dipped 35.7% to $0.45.</li>
<li>MMTec, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTC#NASDAQ">MTC</a>) fell 29.3% to $0.6288.</li>
<li>Ault Alliance, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AULT#NYSE">AULT</a>) declined 25% to $0.3530.</li>
<li>FLJ Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLJ#NASDAQ">FLJ</a>) shares fell 24.3% to $0.8625 after jumping over 46% on Tuesday.</li>
<li>Cheetah Net Supply Chain Service Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTNT#NASDAQ">CTNT</a>) dipped 22% to $0.9091.</li>
<li>Faraday Future Intelligent Electric Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIE#NASDAQ">FFIE</a>) fell 22% to $1.0801</li>
<li>MultiMetaVerse Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MMV#NASDAQ">MMV</a>) fell 19.7% to $0.7350.</li>
<li>Yatsen Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YSG#NYSE">YSG</a>) shares declined 18.6% to $3.7050 following downbeat second-quarter results.</li>
<li>LifeStance Health Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LFST#NASDAQ">LFST</a>) shares declined 17.4% to $6.17. LifeStance Health Group priced its secondary public offering of 20 million common shares at $6.25 per share.</li>
<li>Nanobiotix S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBTX#NASDAQ">NBTX</a>) dipped 13.7% to $6.09 following first-quarter results.</li>
<li>Viasat Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSAT#NASDAQ">VSAT</a>) fell 12.6% to $16.42 after the company reported its fourth-quarter financial results.</li>
<li>Golden Ocean Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOGL#NASDAQ">GOGL</a>) declined 11.7% to $13.92 following first-quarter financial results.</li>
<li>Hovnanian Enterprises, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOV#NYSE">HOV</a>) fell 11.1% to $150.26 following second-quarter results.</li>
<li>Photronics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAB#NASDAQ">PLAB</a>) declined 10.8% to $25.19 following worse-than-expected second-quarter financial results and soft third-quarter guidance.</li>
<li>IAMGOLD Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAG#NYSE">IAG</a>) shares fell 9.6% to $4.06 after the company announced a $300 million bought deal financing.</li>
<li>Modine Manufacturing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOD#NYSE">MOD</a>) shares fell 8.6% to $92.79 following mixed fourth-quarter results.</li>
<li>Hudbay Minerals Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HBM#NYSE">HBM</a>) shares declined 8% to $9.53 after the company announced a $300 million Bought Deal Equity Offering.</li>
<li>CAE Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAE#NYSE">CAE</a>) fell 8% to $18.25 after the company reported a year over-year decrease preliminary fourth-quarter financial results.</li>
<li>Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) fell 7.7% to $143.78 following downbeat quarterly earnings.</li>
<li>Toll Brothers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) fell 7.6% to $120.28. Toll Brothers reported stronger-than-expected results for its second quarter and raised its FY24 forecast.</li>
<li>Lululemon Athletica Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) shares declined 6.7% to $301.39 after the company announced that its Chief Product Officer resigned and the company does not intend to replace the role.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/05/38962846/jim-cramer-this-industrial-stock-is-doing-very-well-heres-his-take-on-palantir">Jim Cramer: This Industrial Stock Is Doing &#8216;Very Well&#8217;; Here&#8217;s His Take On Palantir</a>

Why XP Shares Are Trading Lower By Around 12%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

WIIM

CAE shares are trading lower after the company reported a year over-year decrease preliminary Q4 financial results.

Guidance

CAE Expects FY25 Civil Performance To Be More Heavily Weighted In Second Half, Expects Defense Annual Rev Growth In Low-To-Mid-Single Digit Percent Range

Summary of preliminary consolidated fourth quarter and full-year fiscal 2024 unaudited results
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">(amounts in millions, except per share amounts)</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">FY2024</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">FY2023</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Q4-2024</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Q4-2023</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Revenue</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">4,282.8</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">4,010.6</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">1,126.3</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">1,197.4</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Operating (loss) income</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">(185.4)</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">466.0</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">(533.0)</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">178.3</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Adjusted segment operating income</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">549.7</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">538.4</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">125.7</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">193.4</td>
</tr>
<tr>
<td colspan="1" rowspan="1">As a % of revenue</td>
<td colspan="1" rowspan="1">%</td>
<td colspan="1" rowspan="1">12.8</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">13.4</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">11.2</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">16.2</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Adjusted segment operating income excluding Legacy Contracts</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">640.0</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">538.4</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">216.0</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">193.4</td>
</tr>
<tr>
<td colspan="1" rowspan="1">As a % of revenue</td>
<td colspan="1" rowspan="1">%</td>
<td colspan="1" rowspan="1">14.9</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">13.4</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">19.2</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">16.2</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net (loss) income attributable to equity holders of the Company</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">(325.3)</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">220.6</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">(504.7)</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">93.6</td>
</tr>
<tr>
<td colspan="1" rowspan="1">(Loss) earnings per share (EPS)</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">(1.02)</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">0.69</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">(1.58)</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">0.29</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Adjusted EPS(1)</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">0.87</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">0.87</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">0.12</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">0.33</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Adjusted EPS excluding Legacy Contracts(1)</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">1.12</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">0.87</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">0.37</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">0.33</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Free cash flow(1)</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">418.2</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">333.1</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">191.1</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">147.6</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Cash conversion rate(1)</td>
<td colspan="1" rowspan="1">%</td>
<td colspan="1" rowspan="1">151</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">121</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Adjusted order intake</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">4,937.4</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">4,856.4</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">1,550.5</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">1,406.2</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Adjusted backlog</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">12,183.9</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">10,796.4</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net debt-to-adjusted EBITDA</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">3.17</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">3.49</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net debt-to-adjusted EBITDA excluding Legacy Contracts</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2.89</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">3.49</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
</tbody>
</table>
</figure><figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">(1)&nbsp;This press release includes non-IFRS financial measures, non-IFRS ratios, capital management measures and supplementary financial measures. These measures are not standardized financial measures prescribed under IFRS and therefore should not be confused with, or used as an alternative for, performance measures calculated according to IFRS. Furthermore, these measures should not be compared with similarly titled measures provided or used by other issuers. Refer to the Non-IFRS and other financial measures section of this press release for the definitions and a reconciliation of these measures to the most directly comparable measure under IFRS. &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Comparative figures have been reclassified to reflect discontinued operations.</td>
</tr>
</tbody>
</table>
</figure>

CAE Preliminary Q4 Adj. EPS CAD$0.12 Vs CAD$0.33 YoY; Revenue CAD$1.11B Vs CAD$1.2B YoY

CAE Inc. (CAE or the Company) today announced a re-baselining of its Defense business along with Defense impairments and unfavourable contract adjustments related to eight previously identified fixed-price legacy contracts (the Legacy Contracts).
CAE also announced the appointment of Nick Leontidis to the new position of Chief Operating Officer (COO) as part of a senior leadership reorganization to further strengthen its execution capabilities and drive additional synergies between CAE's Defense &amp; Security business and its Civil Aviation business.&nbsp;Mr. Leontidis was previously CAE's Group President, Civil Aviation. As COO, he will have overall responsibility for both of CAE's Civil and Defense business segments.
In the fourth quarter of fiscal 2024, CAE has recorded a $568.0&nbsp;million non-cash impairment of Defense goodwill and&nbsp;$90.3&nbsp;million in unfavourable Defense contract profit adjustments as a result of accelerated risk recognition on the Legacy Contracts. It also recorded a $35.7 million impairment of related technology and other non-financial assets which are principally related to the Legacy Contracts.

Cae Announces Re-Baselining Of Its Defense Business; Defense Records $568M Goodwill Impairment, $90.3M Unfavourable Contract Adjustments, And $35.7M Impairment Of Related Intangible Assets; Appoints Of Nick Leontidis As COO

The first-quarter reporting cycle for defense stocks, which are housed within the broader Aerospace sector, is underway, with a handful of industry players having released mixed quarterly performance so far. In particular, while defense bigwigs like Northrop, L3Harris Technologies, Lockheed and RTX have beat on earnings, major contractors like General Dynamics and Textron lagged the same.
Taking a look at the whole picture, we remain optimistic about the first-quarter results of the remaining defense majors, as widespread hostilities continue to engulf the global defense map, thereby compelling nations to safeguard their borders by ordering more cutting-edge defense products.
A handful of defense stocks like CAE Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cae#NYSE">CAE</a>), Leidos Holdings (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ldos#NYSE">LDOS</a>), Curtiss-Wright Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ldos#NYSE">LDOS</a>), Embraer (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/erj#NYSE">ERJ</a>) and Huntington Ingalls Industries (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hii#NYSE">HII</a>), which are set to release their first-quarter results soon, are likely to beat on earnings this reporting cycle.
<h3>Factors Driving Defense Stocks&#39; Growth in Q1</h3>
In a bid to tackle the growing geopolitical instability across the globe, particularly with the frequent hostilities erupting in the Middle East and the Russian invasion of Ukraine, governments of the majority of nations have been boosting their defense budget significantly. With the United States being the world&#39;s largest weapon manufacturer, its defense budget has always been in the spotlight. To this end, it is imperative to mention that in March 2024, the Biden administration submitted the fiscal 2025 budget proposal, which requests funding worth $850 billion for the U.S. Department of Defense (DoD), reflecting a 1% increase over fiscal 2024&#39;s enacted budget amount.
Such enhanced budgetary provisions thereby raised the chance of increased order inflows for major defense primes from Pentagon and U.S. allies. This, in turn, must have boosted the defense contractors&#39; backlog. We expect to witness this once all the major defense players reveal their first-quarter numbers.
Ongoing conflicts like the one prevailing in the Middle East, as well as the Russia-Ukraine issue, have also proved to be beneficial for U.S. defense stocks, with these affairs prompting the U.S. government to sanction big defense aid for the affected nations.
Evidently, as of Mar 12, 2024, the United States committed more than $44.9 billion in security assistance to Ukraine since the beginning of the Biden Administration (per a report by the U.S. DoD). Moreover, last year, President Biden asked Congress to approve a $95 billion supplemental spending bill that included $14 billion for Israel.&nbsp; No doubt these security aids imply a supply of military arms and ammunition, which, in turn, must have bolstered revenues for U.S. defense stocks in the first quarter.
For a handful of defense stocks like General Dynamics, which are also critical commercial aerospace industry players, the steadily growing commercial air passenger traffic has been boosting their quarterly performance. Notably, improving air travel has prompted U.S. airlines to once again start ordering and taking deliveries of aircraft from commercial jet makers. Evidently, we might witness a 1.7% rise in General Dynamics&#39; revenues from its Aerospace segment (that came from U.S. commercial customers) in the first quarter. Similar trends are likely to have aided first-quarter performance of other defense stocks, which are yet to report.
However, some lingering factors like shortage of skilled labor, supply-chain challenges and unfavorable inflation impacts might have had some adverse impact on the overall first-quarter performance of the defense stocks.
<h3>Q1 Projections</h3>
Per our latest Earnings Preview, first-quarter earnings for the Aerospace sector are expected to improve 3% on 6.5% sales growth.
<h3>Zacks Methodology</h3>
Given the high degree of diversity in the defense space, finding the right stocks with the potential to beat estimates might be quite a daunting task. However, our proprietary Zacks methodology makes it fairly simple. 
We are focusing on stocks that have the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold).
Our research shows that for stocks with this combination, the chances of an earnings beat are as high as 70%.
Earnings ESP provides the percentage difference between the Most Accurate Estimate and the Zacks Consensus Estimate.
<h3>Our Choices</h3>
Below we present five stocks that are expected to come up with an earnings beat this reporting cycle. 
CAE is a renowned provider of simulation and modelling technologies as well as integrated training services to the defense forces around the globe. In the quarter to be reported, robust demand for the company&#39;s training and flight operations solutions across all regions, notably in Asia, can be expected to have boosted its performance. However, restructuring integration and acquisition costs relating to the AirCentre and L3H MT acquisition might have had some adverse impact on CAE&#39;s bottom line. 
CAE, with an Earnings ESP of +1.07% and a Zacks Rank #3 at present, is set to release earnings soon.
The Zacks Consensus Estimate for CAE&#39;s sales is pegged at $957.3 million, indicating a 3% improvement from the year-ago quarter&#39;s reported figure.
<div class="chart_embed">
<h3>CAE Inc Price and EPS Surprise</h3>
<a href="https://www.zacks.com/stock/chart/CAE/price-eps-surprise?icid=chart-CAE-price-eps-surprise"><img alt="CAE Inc Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/75/1714389132.png" style="height:325px; width:625px" title="" /> </a>
CAE Inc price-eps-surprise | CAE Inc Quote
</div>
Leidos Holdings&#39; core capabilities include providing solutions in the fields of cybersecurity, data analytics, enterprise IT modernization, operations and logistics, sensors, collection and phenomenology, software development and systems engineering. In January 2024, LDOS successfully deployed a new Flight Service Voice Communications System (FSVCS) using Voice over Internet Protocol technology. This deployment must have fetched solid revenues for the company in the first quarter.
LDOS, with an Earnings ESP of +1.86% and a Zacks Rank #2 at present, is set to release earnings on Apr 30. The Zacks Consensus Estimate for LDOS&#39; sales is pegged at $3.80 billion, indicating a 2.7% improvement from the year-ago quarter&#39;s reported figure.
<div class="chart_embed">
<h3>Leidos Holdings, Inc. Price and EPS Surprise</h3>
<a href="https://www.zacks.com/stock/chart/LDOS/price-eps-surprise?icid=chart-LDOS-price-eps-surprise"><img alt="Leidos Holdings, Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/b7/1714389184.png" style="height:325px; width:625px" title="" /> </a>
Leidos Holdings, Inc. price-eps-surprise | Leidos Holdings, Inc. Quote
</div>
Curtiss-Wright provides highly engineered products and services for high-performance platforms, and critical applications in key areas such as commercial aerospace and defense electronics, reactor coolant pumps for next-generation nuclear reactors as well as advanced surface treatment technologies. Increasing defense U.S. budget, which includes funding for the incremental construction of Ford-class nuclear-powered aircraft carriers and Columbia ballistic missile submarines, should boost demand for the company&#39;s nuclear propulsion equipment. This, in turn, might have benefited CW&#39;s top-line performance in the first quarter.
CW, with an Earnings ESP of +0.23% and a Zacks Rank #2 at present, is set to release earnings on May 1. The Zacks Consensus Estimate for CW&#39;s sales is pegged at $665 million, indicating a 5.4% improvement from the year-ago quarter&#39;s reported figure.
<div class="chart_embed">
<h3>Curtiss-Wright Corporation Price and EPS Surprise</h3>
<a href="https://www.zacks.com/stock/chart/CW/price-eps-surprise?icid=chart-CW-price-eps-surprise"><img alt="Curtiss-Wright Corporation Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/73/1714389238.png" style="height:325px; width:625px" title="" /> </a>
Curtiss-Wright Corporation price-eps-surprise | Curtiss-Wright Corporation Quote
</div>
Embraer designs, manufactures and sells aircraft and aviation-related structural parts to the world&#39;s commercial aviation, executive aviation and defense markets. As one of the leaders in the commercial aircraft space, the improving commercial air travels in recent times must have bolstered ERJ&#39;s first-quarter results.
ERJ, with an Earnings ESP of +90.63% and a Zacks Rank #3 at present, is set to release earnings soon. The Zacks Consensus Estimate for ERJ&#39;s sales is pegged at $855.7 million, indicating a 19.4% improvement from the year-ago quarter&#39;s reported figure.
<div class="chart_embed">
<h3>Embraer-Empresa Brasileira de Aeronautica Price and EPS Surprise</h3>
<a href="https://www.zacks.com/stock/chart/ERJ/price-eps-surprise?icid=chart-ERJ-price-eps-surprise"><img alt="Embraer-Empresa Brasileira de Aeronautica Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/6c/1714389281.png" style="height:325px; width:625px" title="" /> </a>
Embraer-Empresa Brasileira de Aeronautica price-eps-surprise | Embraer-Empresa Brasileira de Aeronautica Quote
</div>
Another company that&#39;s likely to come up with an earnings beat this time around is Huntington Ingalls. It designs, builds and maintains nuclear-powered ships such as aircraft carriers and submarines, and non-nuclear ships, such as surface combatants, expeditionary warfare/amphibious assault and coastal defense surface ships for the U.S. Navy and Coast Guard. In February 2024, HII launched its Virginia-class submarine Massachusetts (SSN 798) into the James River at the company&#39;s Newport News Shipbuilding (NNS) division. This might have aided the company&#39;s quarterly performance.
HII, with an Earnings ESP of +0.58% and a Zacks Rank #3 at present, is set to release earnings on May 2. The Zacks Consensus Estimate for HII&#39;s sales is pegged at $2.80 billion, indicating a 4.7% improvement from the year-ago quarter&#39;s reported figure.
<div class="chart_embed">
<h3>Huntington Ingalls Industries, Inc. Price and EPS Surprise</h3>
<a href="https://www.zacks.com/stock/chart/HII/price-eps-surprise?icid=chart-HII-price-eps-surprise"><img alt="Huntington Ingalls Industries, Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/e1/1714389368.png" style="height:325px; width:625px" title="" /> </a>
Huntington Ingalls Industries, Inc. price-eps-surprise | Huntington Ingalls Industries, Inc. Quote
</div>
<a href="https://www.zacks.com/stock/news/2263825/5-defense-stocks-poised-to-surpass-q1-earnings-estimates?cid=CS-BENZ-FT-earnings_esp-2263825">To read this article on Zacks.com click here.</a>

National Bank Financial Inc analyst Cameron Doerksen maintains CAE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAE#NYSE">CAE</a>) with a Outperform and lowers the price target from $34 to $32.

National Bank Financial Inc Maintains Outperform on CAE, Lowers Price Target to $32

Goldman Sachs analyst Noah Poponak maintains CAE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAE#NYSE">CAE</a>) with a Buy and raises the price target from $25 to $29.

Goldman Sachs Maintains Buy on CAE, Raises Price Target to $29

<ul>
<li>CAE to deliver initial training for air traffic controllers and flight service specialists at the new Air Traffic Services Training Centre in&nbsp;Montreal.</li>
<li>Partnership increases training capacity at NAV&nbsp;CANADA&nbsp;across the country and is expected to support the training for over 500 additional students by 2028.</li>
</ul>

NAV CANADA And CAE Enter Partnership To Train Air Traffic Controllers And Flight Service Specialists

KULR Technology Group, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KULR#NYSE">KULR</a>), a firm specializing in sustainable energy management, announced a commitment of over $1 million from&nbsp;H55 Inc., an innovator in electric propulsion technology (EPS).
Under the agreement, the initial phase of delivery commenced in the first quarter of 2024. Incorporating KULR&#8217;s TRS into H55&#8217;s EPS is essential for meeting EASA&#8217;s safety standards.
H55 plans to use KULR&#8217;s Thermal Runaway Shield in propulsion systems for major firms like Pratt &amp; Whitney and&nbsp;CAE Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAE#NYSE">CAE</a>).
The collaboration enables H55 to develop propulsion systems that meet rigorous safety protocols and maintain high efficiency and energy density.&nbsp;
Following EASA&#8217;s recent approval of the H55 EPS, the project has advanced to a critical stage of demonstrating compliance in its certification journey.
Michael Mo, CEO of KULR, commented, &#8220;Working with H55 epitomizes our commitment to setting new standards for safety in electric aviation. With H55, we reinforce our role in addressing the escalating compliance requisites from regulatory bodies such as EASA and the FAA. Our goal is to ensure our technology not only fulfills but also anticipates the evolving safety needs of the electric aviation sector.&#8221;
Price Action:&nbsp;KULR shares closed higher by 7.89% at $0.41 on Monday.

Shares of Sony Group Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sony#NYSE">SONY</a>) fell during Wednesday&rsquo;s session after the company reported third-quarter financial results and revised guidance above estimates and shared plans to list its financial arm in October 2025.
Sony Group reported third-quarter FY23 sales growth of 22% year-on-year to $25.34 billion (&yen;3.75 trillion), beating the consensus of $24.62 billion. Adjusted EPS of $1.99 beat the consensus of $1.65.
Sony revised its FY23 sales outlook to $86.62 billion (&yen;12.4 trillion), down from a prior forecast of &yen;12.3 trillion versus the consensus of $87.32 billion.
Sony Group shares fell 6.3% to $89.86 on Wednesday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>Datasea Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dtss#NASDAQ">DTSS</a>) shares jumped 1,173% to $18.59. On Tuesday, Datasea posted a narrower second-quarter loss.</li>
<li>Earlyworks Co., Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/elws#NASDAQ">ELWS</a>) surged 416% to $2.35 on two passive stakes.</li>
<li>enGene Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/engn#NASDAQ">ENGN</a>) jumped 95.5% to $14.90. The company&rsquo;s CEO Jason Hanson is resigning due to personal family and health reasons, though he will continue to support the company as a strategic advisor after a successor is appointed. Concurrently, enGene announced a private placement of 20 million common shares at $10.00 per share, representing a 31% premium over the previous day&rsquo;s closing price.</li>
<li>Cineverse Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cnvs#NASDAQ">CNVS</a>) surged 92.9% to $2.9899. Cineverse announced forthcoming launch of AI-powered movie search platform cineSearch.</li>
<li>Cheche Group Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ccg#NASDAQ">CCG</a>) gained 74.3% to $5.49.</li>
<li>MGO Global, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mgol#NASDAQ">MGOL</a>) rose 66% to $0.6647.</li>
<li>Cogent Biosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cogt#NASDAQ">COGT</a>) surged 62.7% to $8.89.</li>
<li>Inspira Technologies Oxy B.H.N. Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iinn#NASDAQ">IINN</a>) gained 35% to $1.29 after the company announced it received the first ever U.S. Patent approval for an orbiting blood oxygenation delivery system, a core technology of the INSPIRA ART500 device.</li>
<li>Lyft, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lyft#NASDAQ">LYFT</a>) shares gained 34.3% to $16.29 after the company reported fourth-quarter sales of $1.22 billion and gross bookings of $3.7 billion, up 17% year-over-year. The company&rsquo;s CFO, Erin Brewer, said the adjusted EBITDA margin is projected to expand 50 basis points in 2024.</li>
<li>Healthcare Services Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hcsg#NASDAQ">HCSG</a>) gained 25.7% to $11.90 following upbeat earnings.</li>
<li>Blink Charging Co. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/blnk#NASDAQ">BLNK</a>) gained 24.2% to $3.3288. Blink Charging announced preliminary fourth-quarter revenue excess of $42 million.</li>
<li>Larimar Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lrmr#NASDAQ">LRMR</a>) rose 23.9% to $10.83. Larimar Therapeutics has priced the public offering of 17.16 million shares at $8.74 per share for gross proceeds of approximately $150 million.</li>
<li>Clene Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clnn#NASDAQ">CLNN</a>) gained 22.9% to $0.52.</li>
<li>Angi Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/angi#NASDAQ">ANGI</a>) gained 22.2% to $2.97 following upbeat earnings.</li>
<li>Iris Energy Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iren#NASDAQ">IREN</a>) shares rose 20.5% to $8.35.</li>
<li>CEVA, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ceva#NASDAQ">CEVA</a>) gained 18.5% to $23.92 following upbeat earnings.</li>
<li>Great Lakes Dredge &amp; Dock Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gldd#NASDAQ">GLDD</a>) gained 17.1% to $9.47 following quarterly results.</li>
<li>Resideo Technologies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rezi#NYSE">REZI</a>) rose 16.7% to $19.94 after the company reported better-than-expected quarterly financial results.</li>
<li>Kratos Defense &amp; Security Solutions, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ktos#NASDAQ">KTOS</a>) jumped 15.7% to $20.59 following better-than-expected quarterly results.</li>
<li>Robinhood Markets, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hood#NASDAQ">HOOD</a>) shares gained 14.7% to $13.58 after the company reported better-than-expected fourth-quarter financial results.</li>
<li>United Fire Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ufcs#NASDAQ">UFCS</a>) rose 13.5% to $24.32 following upbeat results.</li>
<li>Allison Transmission Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/alsn#NASDAQ">ALSN</a>) gained 13% to $69.53 after the company reported better-than-expected quarterly financial results.</li>
<li>MRC Global Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mrc#NYSE">MRC</a>) rose 12.1% to $11.64 following upbeat earnings.</li>
<li>Coinbase Global, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coin#NASDAQ">COIN</a>) gained 11.5% to $156.50 amid strength in Bitcoin.</li>
<li>CCSC Technology International Holdings Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cctg#NASDAQ">CCTG</a>) shares rose 10.2% to $3.56 after dipping around 10% on Tuesday.</li>
<li>Tower Semiconductor Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsem#NASDAQ">TSEM</a>) gained 8.5% to $31.07 following strong results.</li>
<li>Sentage Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sntg#NASDAQ">SNTG</a>) shares jumped 8.4% to $2.46.</li>
<li>Charles River Laboratories International, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crl#NYSE">CRL</a>) gained 7.2% to $236.00 after the company reported better-than-expected fourth-quarter results and issued guidance above estimates.</li>
<li>VBI Vaccines Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vbiv#NASDAQ">VBIV</a>) shares surged 5.2% to $0.6941. Brii Biosciences agreed to acquire VBI&#39;s IP rights in BRII-179 (VBI-2601) and plans to initiate technology transfer to expand clinical and commercial supplies.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Azitra, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aztr#NYSE">AZTR</a>) shares fell 69.5% to $0.2653. Azitra priced its $5 million public offering of 16.667 million common shares at $0.30 per share.</li>
<li>Ohmyhome Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/omh#NASDAQ">OMH</a>) fell 40.7% to $1.3397 after the company priced its upsized $4.8 million public offering of 3,555,555 ordinary shares at $1.35 per share.</li>
<li>QuidelOrtho Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qdel#NASDAQ">QDEL</a>) fell 34.9% to $43.49 after the company reported worse-than-expected fourth-quarter financial results and issued FY24 adjusted EPS below estimates.</li>
<li>BioNexus Gene Lab Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bglc#NASDAQ">BGLC</a>) shares fell 34.4% to $1.03 after jumping 282% on Tuesday.</li>
<li>Sunworks, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sunw#NASDAQ">SUNW</a>) fell 34.3% to $0.0662.</li>
<li>Enviva Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/eva#NYSE">EVA</a>) fell 33.2% to $0.2977. Enviva is preparing to file for bankruptcy within days, the Wall Street Journal reported.</li>
<li>EpicQuest Education Group International Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eeiq#NASDAQ">EEIQ</a>) fell 27.5% to $1.16.</li>
<li>Nukkleus Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nukk#NASDAQ">NUKK</a>) shares declined 21.6% to $1.5338 after surging over 55% on Tuesday. Goldman Sachs reported a 7.2% passive stake in Nukkleus as of Dec. 29, 2023.</li>
<li>Upstart Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/upst#NASDAQ">UPST</a>) fell 20.5% to $26.19 after the company issued first-quarter revenue guidance below estimates.</li>
<li>Esports Entertainment Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gmbl#NASDAQ">GMBL</a>) shares fell 20% to $1.48. Esports Entertainment Group announced voluntary delisting from the Nasdaq and transfer to the OTCQB Venture Market.</li>
<li>Qurate Retail, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qrteb#NASDAQ">QRTEB</a>) declined 18.4% to $4.69.</li>
<li>CAE Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cae#NYSE">CAE</a>) fell 12.2% to $18.36 after the company reported worse-than-expected quarterly financial results.</li>
<li>The Chemours Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cc#NYSE">CC</a>) dipped 10.5% to $27.29.</li>
<li>Vroom, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vrm#NASDAQ">VRM</a>) fell 10.5% to $13.71.</li>
<li>Maplebear Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cart#NASDAQ">CART</a>) fell 7.8% to $25.67 following quarterly results.</li>
<li>MGM Resorts International (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mgm#NYSE">MGM</a>) shares declined 7.4% to $42.29 after the company reported fourth-quarter financial results.</li>
<li>Akamai Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/akam#NASDAQ">AKAM</a>) fell 7.3% to $115.89 after the company reported mixed quarterly financial results.</li>
<li>The Kraft Heinz Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/khc#NASDAQ">KHC</a>) declined 5.5% to $34.13 after the company reported mixed quarterly financial results.</li>
<li>Airbnb, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/abnb#NASDAQ">ABNB</a>) shares declined 5% to $143.25 after the company reported fourth-quarter financial results.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37126344/bitcoin-surpasses-51-000-stacks-emerges-as-top-gainer"> Bitcoin Surpasses $51,000; Stacks Emerges As Top Gainer</a>

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