Woodward (NASDAQ:WWD) Stock, Quote.Headers.trade-ideas

Woodward

Woodward Inc is an independent designer, manufacturer, and service provider of control solutions for the aerospace and industrial markets. It designs, produces, and service reliable, efficient, low-emission, and high-performance energy control products for diverse applications in challenging environments. The company holds production and assembly facilities primarily in the United States, Europe, and Asia, and promotes products and services through worldwide locations.

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Why Merck Shares Are Trading Lower By 10%? Here Are Other Stocks Moving In Tuesday&#39;s Mid-Day Session

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Woodward Analysts Slash Their Forecasts After Q3 Results

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Investor sentiment took a hit on Tuesday as caution prevailed ahead of significant market events, including key tech earnings reports and the Federal Open Market Committee meeting.

Tech Stocks Drop Ahead Of Key Earnings; Nvidia Falls, CrowdStrike Hits 8-Month Low: What&#39;s Driving Markets Tuesday?

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Truist Securities analyst Michael Ciarmoli upgrades Woodward (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) from Hold to Buy and raises the price target from $152 to $187.

Upgrades

Truist Securities Upgrades Woodward to Buy, Raises Price Target to $187

Contracts

Woodward Enters Five-Year Maintenance, Repair And Overhaul Services Agreement With Lufthansa Technik, Financial Terms Not Disclosed

Goldman Sachs analyst Noah Poponak maintains Woodward (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) with a Buy and lowers the price target from $228 to $201.

Goldman Sachs Maintains Buy on Woodward, Lowers Price Target to $201

Jefferies analyst Sheila Kahyaoglu upgrades Woodward (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) from Hold to Buy and raises the price target from $170 to $190.

Jefferies Upgrades Woodward to Buy, Raises Price Target to $190

Deutsche Bank analyst Scott Deuschle downgrades Woodward (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) from Buy to Hold and lowers the price target from $197 to $158.

Downgrades

Deutsche Bank Downgrades Woodward to Hold, Lowers Price Target to $158

Shares of Merck &amp; Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) fell sharply during Tuesday's session after the company reported second-quarter financial results and cut its FY24 adjusted EPS <a href="https://www.benzinga.com/general/biotech/24/07/40036607/mercks-q2-earnings-revenue-and-eps-beat-helped-by-strong-keytruda-sales-but-acquisition-costs-bit">guidance below estimates</a>.
Merck reported second-quarter sales of $16.1 billion, up 7% year-over-year, beating the consensus estimate of $15.84 billion. Excluding the impact of foreign exchange, sales increased 11%. Merck reported adjusted EPS of $2.28, a shift from an EPS loss of $(2.06), beating the consensus of $2.15, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Merck shares dipped 9.5% to $115.50 on Tuesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Imunon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMNN#NASDAQ">IMNN</a>) shares jumped 147.8% to $2.9250 after the company announced topline results from its Phase 2 OVATION 2 study with IMNN-001. The results showed an 11.1-month improvement in median overall survival compared to standard-of-care alone in the intent-to-treat population.</li>
<li>Agape ATP Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATPC#NASDAQ">ATPC</a>) surged 97% to $0.1731. AGAPE ATP strengthened wellness division via innovative incubation with emerging local SMEs.</li>
<li>Processa Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCSA#NASDAQ">PCSA</a>) shares climbed 53% to $2.60 after the company announced FDA clearance of its IND application for a Phase 2 clinical trial of NGC-Cap in breast cancer.</li>
<li>INVO Bioscience, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INVO#NASDAQ">INVO</a>) gained 33% to $1.1513.</li>
<li>Jet.AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JTAI#NASDAQ">JTAI</a>) shares gained 29% to $0.3850.</li>
<li>2U, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWOU#NASDAQ">TWOU</a>) jumped 28% to $3.4018.</li>
<li>CalciMedica, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CALC#NASDAQ">CALC</a>) jumped 26.3% to $5.24.</li>
<li>JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) rose 20.6% to $7.16 after the company reported better-than-expected second-quarter financial results.</li>
<li>Lumen Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUMN#NYSE">LUMN</a>) rose 19.1% to $2.3050.</li>
<li>Commvault Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVLT#NASDAQ">CVLT</a>) gained 19.1% to $146.77 after the company reported better-than-expected first-quarter financial results and issued second-quarter revenue guidance above estimates. Also, the company raised its FY25 revenue guidance.</li>
<li>Harmonic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HLIT#NASDAQ">HLIT</a>) climbed 18.8% to $13.96 after the company reported better-than-expected second-quarter financial results and issued third-quarter revenue guidance above estimates.</li>
<li>Meta Data Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIU#NYSE">AIU</a>) gained 18.8% to $5.42.</li>
<li>Enveric Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENVB#NASDAQ">ENVB</a>) rose 18.3% to $0.59 after jumping around 6% on Monday.</li>
<li>Inspirato Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISPO#NASDAQ">ISPO</a>) gained 18.3% to $6.20 after jumping over 50% on Monday.</li>
<li>Sprouts Farmers Market, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFM#NASDAQ">SFM</a>) shares gained 15.9% to $98.13 after the company reported better-than-expected second-quarter financial results and issued its third-quarter earnings guidance above estimates.</li>
<li>NeoGenomics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEO#NASDAQ">NEO</a>) gained 16.1% to $17.00 following upbeat earnings.</li>
<li>Tilray Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) rose 16.1% to $2.1250 after the company reported better-than-expected quarterly financial results.</li>
<li>Sprouts Farmers Market, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFM#NASDAQ">SFM</a>) gained 15.5% to $97.79 after the company reported better-than-expected second-quarter financial results. Additionally, the company issued third-quarter earnings guidance above estimates.</li>
<li>Howmet Aerospace Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HWM#NYSE">HWM</a>) climbed 14.1% to $94.56 following better-than-expected second-quarter earnings, issued strong guidance, raised its dividend, increased its buyback authorization and issued strong guidance.</li>
<li>Repligen Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGEN#NASDAQ">RGEN</a>) gained 13.4% to $156.48 following -quarter earnings.</li>
<li>Varonis Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNS#NASDAQ">VRNS</a>) climbed 13.3% to $54.92 as the company reported better-than-expected second-quarter financial results and raised its FY24 guidance on Monday.</li>
<li>Hayward Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAYW#NYSE">HAYW</a>) gained 11% to $14.98 after the company reported better-than-expected second-quarter EPS results.</li>
<li>F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>) shares rose 10.6% to $196.46 after the company reported better-than-expected third-quarter financial results and raised its FY24 earnings guidance above estimates.</li>
<li>Pharming Group N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PHAR#NASDAQ">PHAR</a>) shares gained 9.8% to $8.28. Pharming Group will report second quarter financial results on Aug. 1.</li>
<li>PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) climbed 8.5% to $63.98 after the company reported better-than-expected second quarter financial results.</li>
<li>Stanley Black &amp; Decker, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SWK#NYSE">SWK</a>) rose 8.1% to $104.28 after the company reported better-than-expected second quarter financial results. Additionally, the company revised its FY24 adjusted EPS forecast upward.</li>
<li>Gartner, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IT#NYSE">IT</a>) gained 6.4% to $500.83 following better-than-expected quarterly earnings.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) shares fell 80.8% to $11.44. This sudden decline was triggered by the registration of two private placements with the U.S. Securities and Exchange Commission, which unlocked millions of shares and led to increased selling pressure, Bloomberg reported on Tuesday.</li>
<li>VBI Vaccines Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VBIV#NASDAQ">VBIV</a>) declined 64.8% to $0.1960 after the company was granted protection under Canada&#8217;s CCAA by the Ontario Superior Court. The company received approval for a DIP loan, and Ernst &amp; Young was appointed as the monitor during the restructuring process.</li>
<li>CNS Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNSP#NASDAQ">CNSP</a>) dipped 40.8% to $0.6158 after the company announced it entered into an exclusive license agreement with Cortice Biosciences.</li>
<li>BIMI Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIMI#NASDAQ">BIMI</a>) tumbled 37% to $0.73.</li>
<li>Bloomz Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLMZ#NASDAQ">BLMZ</a>) dipped 30.7% to $1.78.</li>
<li>Ekso Bionics Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EKSO#NASDAQ">EKSO</a>) fell 26.6% to $1.0901 after the company reported worse-than-expected quarterly sales results.</li>
<li>Novavax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) shares declined 25.2% to $12.27 after declining 4% on Monday.</li>
<li>VSee Health, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSEE#NASDAQ">VSEE</a>) fell 23.3% to $2.7999.</li>
<li>SmartRent, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMRT#NYSE">SMRT</a>) dipped 21.5% to $1.8850 after the company announced a CEO resignation and suspended its 2024 outlook.</li>
<li>Symbotic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>) shares fell 21.1% to $28.13 after the company reported worse-than-expected third-quarter earnings results and issued fourth-quarter revenue guidance below estimates.</li>
<li>Woodward, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) fell 16.5% to $152.91 after the company reported mixed third-quarter financial results and lowered its FY24 revenue guidance below estimates.</li>
<li>NIP Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIPG#NASDAQ">NIPG</a>) fell 16.2% to $13.82. NIP Group announced the closing of its initial public offering and partial exercise of underwriters' option to purchase additional ADSs.</li>
<li>Merchants Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBIN#NASDAQ">MBIN</a>) dipped 16.2% to $43.68 after the company reported worse-than-expected quarterly financial results. Additionally, Raymond James downgraded the stock.</li>
<li>Amkor Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMKR#NASDAQ">AMKR</a>) shares fell 14.2% to $32.24 after the company issued roughly in-line guidance.</li>
<li>OneWater Marine Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONEW#NASDAQ">ONEW</a>) dipped 13.2% to $26.43 after the company reported worse-than-expected third-quarter financial results and issued weak guidance.</li>
<li>Celldex Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLDX#NASDAQ">CLDX</a>) shares fell 11.6% to $37.06 after reporting Phase 2 results for barzolvolimab in chronic inducible urticaria.</li>
<li>Transcat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRNS#NASDAQ">TRNS</a>) declined 11.2% to $120.00 following weak quarterly sales.</li>
<li>CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) dipped 9.7% to $233.65 following reports indicating Delta Air Lines would seek compensation from the cybersecurity company for last week&#8217;s outage.</li>
<li>Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>) shares dipped 9.3% to $50.61 following weak quarterly sales.</li>
<li>Corning Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>) fell 8.7% to $38.99 following second-quarter results.</li>
<li>Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>) shares fell 8.3% to $50.40 after the company reported worse-than-expected second-quarter financial results and issued weak third-quarter revenue guidance.</li>
<li>Ecolab Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECL#NYSE">ECL</a>) declined 6.7% to $231.31 after the company reported worse-than-expected second-quarter sales results.</li>
<li>The Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) fell 6.2% to $159.37 following a quarterly revenue miss.</li>
<li>Diageo plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEO#NYSE">DEO</a>) fell 5.5% to $124.30 after the company missed annual profit expectations.</li>
<li>Fresenius Medical Care AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMS#NYSE">FMS</a>) shares declined 4.5% to $19.45 following weak quarterly sales.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/40039797/top-3-health-care-stocks-you-may-want-to-dump-this-quarter">Top 3 Health Care Stocks You May Want To Dump This Quarter</a></li>
</ul>

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

Woodward, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) reported mixed third-quarter financial results and lowered its FY24 revenue <a href="https://www.benzinga.com/quote/WWD/earnings">guidance on Monday.</a>
Woodward reported quarterly earnings of $1.63 per share which beat the analyst consensus estimate of $1.46 per share. Woodward reported quarterly sales of $847.688 million which missed the analyst consensus estimate of $853.523 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
&#8220;We delivered a solid quarter, driven by robust end-market demand and the dedicated efforts of all our members,&#8221; stated Chip Blankenship, Chairman and Chief Executive Officer. &#8220;In Aerospace, increased utilization drove strong aftermarket demand in the third quarter. Total Industrial growth moderated as expected. Industrial benefitted from increased sales in power generation as well as transportation despite flat China on-highway shipments year-over-year. In this dynamic market, we remain focused on growth, operational excellence, and innovation, which continue to position Woodward to deliver sustained long-term shareholder value.&#8221;
Woodward revised its FY24 sales forecast from $3.25 billion-$3.35 billion to $3.25 billion-$3.30 billion. The company said it now expects adjusted earnings of $5.80 to $6.00 per share, versus earlier forecast of $5.70 to $6.00 per share.
Woodward shares fell 18.4% to trade at $149.58 on Tuesday.
These analysts made changes to their price targets on Woodward following the announcement.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58bd5519b85e930001592aed/gautam-khanna">TD Cowen analyst Gautam Khanna</a> maintained Woodward with a Buy rating, while lowering the price target from $200 to $186.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/634692502048c30001536eef/scott-deuschle">Deutsche Bank analyst Scott Deuschle</a> maintained the stock with a Buy rating, while cutting the price target from $210 to $197.</li>
</ul>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/40039797/top-3-health-care-stocks-you-may-want-to-dump-this-quarter">Top 3 Health Care Stocks You May Want To Dump This Quarter</a></li>
</ul>

Investor sentiment took a hit on Tuesday as caution prevailed ahead of significant market events, including key tech earnings reports and the Federal <a href="https://www.benzinga.com/economics/macro-economic-events/24/07/40042583/will-powell-hint-at-september-rate-cut-what-major-us-investment-banks-expect-from">Open Market Committee meeting.</a>
The Nasdaq 100, heavily weighted with tech stocks, experienced the most significant decline among major U.S. indices, dropping 1.5%. Semiconductor stocks were particularly affected, with Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) plummeting over 6% to a two-month low, impacting the entire industry. 
Consequently, the iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) fell nearly 3%, marking its sixth negative close in the last eight sessions.
The S&amp;P 500 also dipped 0.8%, primarily due to its heavy tech exposure, while the Dow Jones and Russell 2000 managed to avoid losses. Notably, the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) has outperformed tech stocks by 15% so far this month.
Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) declined more than 1% ahead of its post-market earnings announcement, while Apple Inc., Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) experienced smaller losses in anticipation of their reports later in the week.
Crowdstrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) was the worst-performing tech stock on Tuesday, plunging nearly 12% after Delta Air Lines announced it would seek compensation from the cybersecurity firm for last week's outage.
Meanwhile, Treasury yields remained steady, gold edged up 0.3%, and the Japanese yen, tracked by the Invesco CurrencyShares Japanese Yen Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXY#NYSE">FXY</a>), gained 0.4% against the dollar in anticipation of a potential Bank of Japan rate hike.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 1.5% to $65,812.
<h3 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,607.10</td>
<td>0.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,242.74</td>
<td>0.1%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,422.36</td>
<td>-0.8%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,778.20</td>
<td>-1.5%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:38 p.m. ET</figcaption></figure>
<a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent073024&amp;t=be2bearmibe3na1">According to Benzinga Pro data:</a>
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.7% lower to $541.00.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.3% to $406.60.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 1.5% to $457.06.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.16% to $222.09.</li>
<li>Sector-wise, the Energy Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)&nbsp;outperformed, up 1.2%, while the&nbsp;Technology Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down 2.4%.</li>
</ul>
<h3 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h3>
Stocks moving on earnings were:
<ul>
<li>F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>), up over 11%.</li>
<li>Hologic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLX#NASDAQ">HOLX</a>), up 2.7%</li>
<li>Woodward Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>), down 18%.</li>
<li>Chesapeake Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NYSE">CHK</a>), down 0.6%.</li>
<li>Amkor Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMKR#NASDAQ">AMKR</a>), down 18%.</li>
<li>Crane Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CR#NYSE">CR</a>), down 4%. </li>
<li>Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>), down 8%. </li>
<li>Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>), down 5.6%. </li>
<li>Merck &amp; Company Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>), down 10%. </li>
<li>Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), down 0.5%. </li>
<li>S&amp;P Global Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SP#NYSE">SP</a>), down 0.7%. </li>
<li>Illinois Tool Works Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITW#NYSE">ITW</a>), down 0.5%,</li>
<li>PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), up 7.4%. </li>
<li>Ecolab Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECL#NYSE">ECL</a>), down 8.4%.</li>
<li>Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>), up 5.2%. </li>
<li>American Electric Power Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>), flat. </li>
<li>Gartner Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IT#NYSE">IT</a>), up 6.7%. </li>
<li>Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), down 0.4%</li>
<li>JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>), up 17%.</li>
<li>LGI Homes, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGIH#NASDAQ">LGIH</a>), up 8%. </li>
<li>Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>), up 0.6%. </li>
<li>Restaurant Brands International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>), down 0.5% </li>
<li>SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>) down 1.9%. </li>
</ul>
Companies reporting earnings after the close include: 
<ul>
<li>Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)</li>
<li>Arista Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>)</li>
<li>Caesars Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>)</li>
<li>DoubleVerify Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DV#NYSE">DV</a>)</li>
<li>Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>)</li>
<li>First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>)</li>
<li>Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>)</li>
<li>Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>)</li>
<li>Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>)</li>
<li>Microsoft</li>
<li>Mondelez International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>)</li>
<li>Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>)</li>
<li>Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>)</li>
<li>Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) </li>
<li>Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>).</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/07/40044042/job-openings-hold-steady-in-june-ahead-of-crucial-july-labor-market-data-why-this">Job Openings Hold Steady In June Ahead Of Crucial July Labor Market Data: Why This Analyst Expects Robust Payrolls</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Tech Stocks Drop Ahead Of Key Earnings; Nvidia Falls, CrowdStrike Hits 8-Month Low: What's Driving Markets Tuesday?

Deutsche Bank analyst Scott Deuschle maintains Woodward (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) with a Buy and lowers the price target from $210 to $197.

Deutsche Bank Maintains Buy on Woodward, Lowers Price Target to $197

TD Cowen analyst Gautam Khanna maintains Woodward (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) with a Buy and lowers the price target from $200 to $186.

TD Cowen Maintains Buy on Woodward, Lowers Price Target to $186

U.S. stock futures were slightly higher this morning, with the Dow futures gaining around 0.1% on Tuesday.
Shares of Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>) fell sharply in today's pre-market trading after the company reported worse-than-expected second-quarter financial results and issued weak <a href="https://www.benzinga.com/news/earnings/24/07/40022763/lattice-semiconductor-stock-falls-on-worse-than-expected-q2-results">third-quarter revenue guidance</a>.
Lattice Semiconductor reported quarterly earnings of 23 cents per share, which missed the analyst consensus estimate of 24 cents per share. Quarterly sales came in at $124.076 million, which missed the analyst consensus estimate of $130.172 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Lattice Semiconductor shares tumbled 14.8% to $46.82 in the pre-market trading session.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Symbotic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>) shares dipped 19.5% to $28.70 in pre-market trading after the company reported worse-than-expected third-quarter earnings results and issued fourth-quarter revenue guidance below estimates.</li>
<li>Woodward, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) declined 10.5% to $164.01 in pre-market trading after the company reported mixed third-quarter financial results and lowered its FY24 revenue guidance below estimates.</li>
<li>Novavax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) shares dipped 9.6% to $14.85 in pre-market trading after declining 4% on Monday.</li>
<li>Celldex Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLDX#NASDAQ">CLDX</a>) shares tumbled 8.6% to $38.33 in pre-market trading after reporting Phase 2 results for barzolvolimab in chronic inducible urticaria.</li>
<li>Diageo plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEO#NYSE">DEO</a>) declined 8.5% to $120.36 in pre-market trading after the company missed annual profit expectations.</li>
<li>Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>) shares fell 7.8% to $51.50 in pre-market trading following weak quarterly sales.</li>
<li>Soho House &amp; Co Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHCO#NYSE">SHCO</a>) fell 7.3% to $4.80 in pre-market trading. Soho House &amp; Co will release its second-quarter financial results on Friday, Aug. 9.</li>
<li>Fitell Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTEL#NASDAQ">FTEL</a>) declined 6.8% to $14.67 in pre-market trading.</li>
<li>Amkor Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMKR#NASDAQ">AMKR</a>) shares fell 6.2% to $35.28 in pre-market trading after the company issued roughly in-line guidance.</li>
<li>Fresenius Medical Care AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMS#NYSE">FMS</a>) shares declined 5.7% to $19.20 in pre-market trading following weak quarterly sales.</li>
<li>CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) shares declined 4.7% to $246.69 in pre-market trading.</li>
</ul>
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<li><a href="https://www.benzinga.com/news/24/07/40009447/roblox-morgan-stanley-and-2-other-stocks-insiders-are-selling">Roblox, Morgan Stanley And 2 Other Stocks Insiders Are Selling</a></li>
</ul>

Pre-Market Outlook

FTEL

SHCO

Lattice Semiconductor Posts Weak Q2 Results, Joins Symbotic, Woodward And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

WIIM

Woodward shares are trading lower after the company reported mixed Q3 financial results and lowered its FY24 revenue guidance below estimates.

Shares of F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>) shares rose sharply in today's pre-market trading after the company reported better-than-expected third-quarter financial results and raised its FY24 earnings <a href="https://www.benzinga.com/news/earnings/24/07/40023356/f5-shares-climb-on-better-than-expected-q3-results-strong-forward-guidance">guidance above estimates</a>.
F5 reported quarterly earnings of $3.36 per share, which beat the analyst consensus estimate of $2.97 per share. Quarterly sales came in at $695.495 million, which beat the analyst consensus estimate of $686.062 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
F5 shares jumped 14.3% to $202.92 in pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Imunon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMNN#NASDAQ">IMNN</a>) gained 104.2% to $2.41 in pre-market trading. IMUNON will report topline results from the Phase 2 OVATION 2 study with IMNN-001 In advanced ovarian cancer on July 30.</li>
<li>Jet.AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JTAI#NASDAQ">JTAI</a>) shares climbed 48% to $0.4422 in pre-market trading.</li>
<li>Enveric Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENVB#NASDAQ">ENVB</a>) rose 26.3% to $0.6289 in pre-market trading after jumping around 6% on Monday.</li>
<li>Inspirato Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISPO#NASDAQ">ISPO</a>) gained 22.3% to $6.41 in pre-market trading after jumping over 50% on Monday.</li>
<li>Sprouts Farmers Market, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFM#NASDAQ">SFM</a>) shares gained 17.4% to $99.50 in pre-market trading after the company reported better-than-expected second-quarter financial results and issued its third-quarter earnings guidance above estimates.</li>
<li>Serve Robotics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SERV#NASDAQ">SERV</a>) gained 16.1% to $22.51 in pre-market trading after jumping 47% on Monday.</li>
<li>NIP Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIPG#NASDAQ">NIPG</a>) shares gained 15.2% to $19.00 in pre-market trading. NIP Group announced the closing of its initial public offering and partial exercise of underwriters&#8217; option to purchase additional ADSs.</li>
<li>Pharming Group N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PHAR#NASDAQ">PHAR</a>) shares gained 10.1% to $8.30 in pre-market trading. Pharming Group will report second quarter financial results on Aug. 1.</li>
<li>Nomura Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NMR#NYSE">NMR</a>) gained 8.2% to $6.33 in pre-market trading.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) shares fell 79.9% to $12.00 in pre-market trading after dipping 23% on Monday.</li>
<li>Symbotic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>) shares declined 19.5% to $28.70 in pre-market trading after the company reported worse-than-expected third-quarter earnings results and issued fourth-quarter revenue guidance below estimates.</li>
<li>Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>) shares fell 14.8% to $46.82 in pre-market trading after the company reported worse-than-expected second-quarter financial results and issued weak third-quarter revenue guidance.</li>
<li>TROOPS, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TROO#NASDAQ">TROO</a>) shares fell 13.2% to $3.22  in pre-market trading.</li>
<li>Woodward, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) fell 10.5% to $164.01 in pre-market trading after the company reported mixed third-quarter financial results and lowered its FY24 revenue guidance below estimates.</li>
<li>Novavax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) shares declined 9.6% to $14.85 in pre-market trading after declining 4% on Monday.</li>
<li>Celldex Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLDX#NASDAQ">CLDX</a>) shares fell 8.6% to $38.33 in pre-market trading after reporting Phase 2 results for barzolvolimab in chronic inducible urticaria.</li>
<li>Diageo plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEO#NYSE">DEO</a>) fell 8.5% to $120.36 in pre-market trading after the company missed annual profit expectations.</li>
<li>Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>) shares dipped 7.8% to $51.50 in pre-market trading following weak quarterly sales.</li>
<li>Amkor Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMKR#NASDAQ">AMKR</a>) shares fell 6.2% to $35.28 in pre-market trading after the company issued roughly in-line guidance.</li>
</ul>
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</ul>

SERV

TROO

Why F5 Shares Are Trading Higher By Over 14%; Here Are 20 Stocks Moving Premarket

Woodward (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) reported quarterly earnings of $1.63 per share which beat the analyst consensus estimate of $1.46 by 11.64 percent. &nbsp;

Earnings Beats

Earnings Misses

Woodward Q3 2024 GAAP EPS $1.63 Beats $1.46 Estimate

Guidance

Woodward Revises FY24 Total Company Forecast From $3.25B-$3.35B To $3.25B-$3.30B (Est $3.31B); Adj EPS From $5.70-$6.00 To $5.80-$6.00 (Est $5.98)

Woodward (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) reported quarterly sales of $847.688 million which missed the analyst consensus estimate of $853.523 million by 0.68 percent. This is a 5.87 percent increase over sales of $800.663 million the same period last year.

Woodward Q3 Sales $847.688M Miss $853.523M Estimate

Wall Street opened higher at the start of a data-heavy week, with traders adopting an optimistic tone ahead of crucial earnings<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40016926/markets-brace-for-crucial-interest-rate-shake-up-what-to-expect-from-federal-reserv"> reports and economic events.</a>
The S&amp;P 500 rose 0.4% by midday trading in New York, while the tech-heavy Nasdaq 100 climbed 0.8%. The blue-chip index inched 0.1% up, and small caps slipped 0.8%.
Four out of the six largest U.S. corporations – including Microsoft Corp., Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) – are set to report their latest quarterly earnings between Tuesday and Thursday.
Meanwhile, the Federal Reserve will hold its two-day Federal Open Market Committee (FOMC) meeting, concluding Wednesday with the rate statement and Fed Chair Jerome Powell&#8216;s press conference.
The Fed is widely expected to keep interest rates steady, but traders will closely watch for any signals of a potential rate cut in September. Market-implied odds currently fully factor in a September rate cut, as shown by CME Group&#8217;s FedWatch tool.
Additionally, crucial labor market statistics will be released this week, including the June Job Openings and Labor Turnover Survey (JOLTs) on Tuesday, July private payroll numbers from Automatic Data Processing Inc. on Wednesday, and the highly anticipated official employment report for July on Friday.
Treasury yields were mostly flat for shorter-dated maturities, while yields for both the 10-year and 30-year tenors fell by 2 basis points on Monday. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rose 0.4%.
In commodities markets, oil fell 1.1%, with West Texas Intermediate (WTI) light crude dropping below $76, hitting a fresh 7-week low as bearish demand developments in China outweighed supply concerns from <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40015199/oil-prices-remain-under-pressure-despite-rising-middle-east-tensions-a-bearish-tria">rising Middle East tensions.</a> U.S. natural gas prices also fell 1.4%.
Gold inched 0.5% lower, while copper and silver declined 0.7% and 1.4%, respectively. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) held steady at around $68,000, failing to rally significantly despite bullish headlines over the weekend.
<h3 class="wp-block-heading">Monday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,173.24</td>
<td>0.8%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,482.99</td>
<td>0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,620.03</td>
<td>0.1%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,242.45</td>
<td>-0.8%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:20 p.m. ET</figcaption></figure>
According to <a href="https://pro.benzinga.com/dashboard/?utm_source=BZprocontent072924&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.4% higher to $546.49.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;held steady at $406.12.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) rose 0.8% to $466.90.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.8% to 222.43.</li>
<li>Sector-wise, the Consumer Discretionary Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)&nbsp;outperformed, up by 1.7%, while the&nbsp;Energy Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 1.2%.</li>
</ul>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rallied 5% after a bullish note from Morgan Stanley putting the EV-maker as the analyst &#8216;top pick&#8217; in the U.S. automotive industry. </li>
<li>Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>) rose 2.6% after Fubon issued a &#8216;New Buy&#8217; rating with price target at $4,533. </li>
<li>Charles Schwab Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) fell 1.6% after Piper Sandler cut the company&#8217;s rating to Neutral. </li>
</ul>
Stocks moving on earnings were:
<ul>
<li>McDonalds Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) soared 4.3%, despite reporting disappointing profits.</li>
<li>ON Semiconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) skyrocketed 13.5%, eyeing the best one-day gain since November 2022, amid stronger-than-expected quarterly results.</li>
<li>Revvity Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RVTY#NYSE">RVTY</a>) climbed 6.4%. </li>
<li>CNA Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNA#NYSE">CNA</a>) rose 3.7%. </li>
<li>Affiliated Managers Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMG#NYSE">AMG</a>) rose 3.9%. </li>
<li>Alliance Resource Partners L.P. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARLP#NASDAQ">ARLP</a>) tumbled 6%. </li>
</ul>
Large-cap stocks reporting earnings after the close include: 
<ul>
<li>Hologic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLX#NASDAQ">HOLX</a>).</li>
<li>Woodward Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>).</li>
<li>F5 Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>).</li>
<li>Chesapeake Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NYSE">CHK</a>). </li>
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Wall Street Rises Ahead Of Big Tech Earnings, Fed Meeting; Tesla Rebounds, Oil Prices Drop To 7-Week Lows: What's Driving Markets Monday?

The Zacks Instruments &ndash; Control industry is likely to have benefited from the diligent focus on energy-efficient production processes and integrated software systems in the second quarter of 2024.
Industry participants, including Transcat (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/trns#NASDAQ">TRNS</a>), Sensata Technologies Holding (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/st#NYSE">ST</a>) and Woodward (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wwd#NASDAQ">WWD</a>), have been benefiting from surging demand for state-of-the-art technology for replacing legacy industrial control systems with automated products.
The process instrumentation and automation industry is experiencing significant growth, primarily driven by the adoption of digital technologies like the Industrial Internet of Things in manufacturing. This trend is fueling demand for process automation, instrumentation products, safety systems and advanced sensors, which offer benefits such as improved product quality and reduced emissions. The industry&#39;s expansion is further supported by increasing regulatory requirements and the adoption of technology across various sectors.
Field instruments play a crucial role in process control by measuring key elements in industries such as chemicals, mining, and pharmaceuticals. These instruments, including transmitters for pressure, flow, temperature, level and humidity measurements, are essential for optimizing productivity. Companies with differentiated product offerings are better positioned to strengthen their market presence.
However, the industry faces challenges such as material cost inflation, rising transportation costs, and supply chain disruptions exacerbated by global events like the Russia-Ukraine conflict. These factors have impacted production schedules and profit margins as firms struggle to pass on increased costs to customers due to intense competition. The industry also contends with threats from low-cost suppliers, particularly from China, and exposure to foreign exchange fluctuations.
Despite these challenges, the industry is poised for growth, driven by increased automation adoption across sectors and investments in new technologies. North America is expected to maintain its dominant position in automation adoption, while growth in other regions is supported by infrastructural investments, evolving regulatory environments and increasing demand in various industries. The power generation, transportation, and marine sectors are also contributing to the industry&#39;s positive outlook for the second quarter of 2024.
The Instruments-Control space is housed within the broader Technology sector (one of the 16 broad Zacks sectors within the Zacks Industry classification). Per the latest Earnings Preview, the total earnings of technology companies for second-quarter 2024 are expected to be up 15.5% from the same period last year on 9.3% higher revenues.
<h3>Insight Into Key Releases</h3>
Ahead of their upcoming second-quarter 2024 earnings releases, let&#39;s take a look at the three abovementioned Instruments-Control stocks.
The Zacks model suggests that a company needs to have the right combination of two key ingredients &mdash; a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) &mdash; to increase the odds of an earnings beat.
Transcat: Increasing focus on regulatory compliance and quality assurance in healthcare, pharmaceuticals, and aerospace sectors is likely to have driven demand for Transcat&#39;s calibration services and equipment in the to-be-reported quarter. Increases in productivity, driven primarily by automation and process improvement, are expected to have boosted Service segment revenues in the quarter under review.
The company&#39;s strategic acquisitions may have expanded the company&#39;s market reach and service capabilities in the to-be-reported quarter. The acquisition of Becnel further diversifies the company&#39;s portfolio of services in regulated spaces and increases Transcat&#39;s durability. Becnel operates in a regulated environmental space with synergistic growth opportunities with large instrumentation users. Transcat continues to see growth in the higher-margin Rental business, which is benefiting from the Axiom Test Equipment acquisition. Transcat&#39;s investments in its own digital capabilities and data management solutions may be paying off in terms of operational efficiency and customer retention.
The Zacks Consensus Estimate for TRNS&#39; first-quarter fiscal 2025 earnings per share is pegged at 29 cents per share, unchanged over the past 30 days. The Zacks Consensus Estimate for total revenues is pegged at $69.06 million, suggesting 13.96% growth from the year-ago quarter.
The combination of an Earnings ESP of 0.00% and a Zacks Rank #2 makes a surprise prediction difficult. The company&#39;s earnings beat estimates in the trailing four quarters, the average surprise being 27.05%.
<div class="chart_embed">
<h3>Transcat, Inc. Price and EPS Surprise</h3>
<img alt="Transcat, Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/f3/1721909336.png" style="height:300px; width:620px" title="" />
Transcat, Inc. price-eps-surprise | Transcat, Inc. Quote
Sensata Technologies: Sensata is well-positioned to gain from solid organic growth and the smooth execution of investment initiatives. Frequent product launches are aiding top-line expansion. Steady momentum in Aerospace and content growth across Automotive and Heavy vehicle off-road businesses create tailwinds. Strength in the electrification business, powered by its rich portfolio of high-voltage protection and battery management systems, propels the growth trajectory. Management noted that in the past three years, Sensata has won more than $2.3 billion in new business, with $1.3 billion gained from the electrification business.
However, the soft Sensing Solutions business, owing to a slowdown in Industrial markets, is expected to have impeded Sensata&#39;s performance in the quarter under review. For the second quarter of 2024, management expects revenues between $1.02 billion and $1.05 billion, indicating a decline of 1-3% due to foreign exchange headwinds.
The Zacks Consensus Estimate for ST&#39;s second-quarter 2024 earnings has remained unchanged at 93 cents per share in the past 30 days. For the June quarter, the Zacks Consensus Estimate for total revenues is currently pegged at $1.04 billion, suggesting a decline of 2.14% from the year-ago quarter&#39;s levels.
</div>
Sensata Technologies has an Earnings ESP of +0.15% and a Zacks Rank #3. The company&#39;s earnings outpaced estimates in three of the trailing four quarters and missed the mark once, the average surprise being 0.23%.
<div class="chart_embed">
<h3>Sensata Technologies Holding N.V. Price and EPS Surprise</h3>
<img alt="Sensata Technologies Holding N.V. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/c6/1721909221.png" style="height:304px; width:620px" title="" />
Sensata Technologies Holding N.V. price-eps-surprise | Sensata Technologies Holding N.V. Quote
Woodward: The company&#39;s performance is being driven by robust end-market demand, price realization, productivity and efficiency improvements. The Aerospace segment benefits from higher commercial OEM and commercial aftermarket sales attributed to improving passenger traffic and aircraft utilization. Defense OEM sales also improved on the back of higher ground vehicles. Defense aftermarket sales benefited from supply-chain stabilization and higher output.
Woodward&#39;s Industrial business segment is gaining from solid demand for power generation, especially in Asia and continued requirement for backup power for data centers. Higher demand for alternative fuels across the marine industry, momentum in the global marine market brought on by higher utilization, and rising shipbuilding rates are other tailwinds.
The Zacks Consensus Estimate for WWD&#39;s third-quarter fiscal 2024 earnings per share is pegged at $1.45 per share, up by a penny over the past 30 days. The Zacks Consensus Estimate for total revenues is pegged at $850.98 million, suggesting 6.28% growth from the year-ago quarter.
Woodward has an Earnings ESP of +1.73% and a Zacks Rank #3. The company&#39;s earnings beat estimates in the trailing four quarters, the average surprise being 26.09%.
</div>
<div class="chart_embed">
<h3>Woodward, Inc. Price and EPS Surprise</h3>
<img alt="Woodward, Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/48/1721909279.png" style="height:300px; width:620px" title="" />
Woodward, Inc. price-eps-surprise | Woodward, Inc. Quote
<a href="https://www.zacks.com/stock/news/2308789/can-these-3-instruments-control-stocks-beat-earnings-targets?cid=CS-BENZ-FT-analyst_blog|earnings_preview_esp-2308789">To read this article on Zacks.com click here.</a>
</div>

Can These 3 Instruments Control Stocks Beat Earnings Targets?

Woodward's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NYSE">WWD</a>) short percent of float has fallen 11.54% since its last report. The company recently reported that it has 769 thousand shares sold short, which is 1.61% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.74 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Woodward Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721677520_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Woodward has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Woodward's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Woodward's peer group average for short interest as a percentage of float is 2.50%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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Management

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