Why Bank of Montreal Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

Author: Avi Kapoor | May 29, 2024 01:28pm

Shares of Bank of Montreal (NYSE:BMO) fell sharply during Wednesday's session after the company reported worse-than-expected second-quarter financial results.

Bank of Montreal posted quarterly adjusted earnings of C$2.59 per share, missing market estimates of C$2.77 per share. The company's quarterly sales came in at C$7.988 billion missing expectations of C$8.046 billion, according to data from Benzinga Pro.

Bank of Montreal shares declined 7.1% to $89.32 on Wednesday.

Here are some other stocks moving in today’s mid-day session.

Gainers

ReShape Lifesciences Inc. (NASDAQ:RSLS) shares jumped 82.8% to $0.3799 a day after it received the nod from the U.S. Patent And Trademark Office to issue a patent for its obesity treatment.
Innovative Eyewear, Inc. (NASDAQ:LUCY) shares jumped 56.1% to $0.64 after the company launched its Eddie Bauer Smart Eyewear collection.
Brand Engagement Network, Inc. (NASDAQ:BNAI) climbed 41% to $1.7900 after the company announced a $4.95 million private placement and appointed Paul Chang to co-CEO.
Siyata Mobile Inc. (NASDAQ:SYTA) gained 40% to $2.10. The company yesterday announced that it received an order from the City of Lancaster Public Utilities Department for its SD7 Push-to-Talk handsets, VK7 Vehicle Kits and related accessories.
AST SpaceMobile, Inc. (NASDAQ:ASTS) climbed 29% to $6.88 after the company announced a partnership with Verizon for direct-to-cellular AST SpaceMobile service when needed for Verizon customers.
Cheche Group Inc. (NASDAQ:CCG) shares gained 25.4% to $1.67. Cheche Group is expected to host a conference call to discuss first quarter 2024 results on Thursday, May 30.
Mustang Bio, Inc. (NASDAQ:MBIO) gained 25% to $0.2370.
Globavend Holdings Limited (NASDAQ:GVH) jumped 23.5% to $1.89 after the company announced an MOU to acquire Top Logistics.
Ikena Oncology, Inc. (NASDAQ:IKNA) gained 22.5% to $1.63 after the company announced it will discontinue development of IK-930 and evaluate strategic options for both the Company and its development pipeline.
Ooma, Inc. (NYSE:OOMA) rose 22.3% to $9.66 after the company reported better-than-expected first-quarter financial results and issued strong guidance for the second quarter.
Tantech Holdings Ltd (NASDAQ:TANH) jumped 22% to $0.80. Tantech recently received a notice of non-compliance from the Nasdaq.
Chewy, Inc. (NYSE:CHWY) rose 21.5% to $20.54 following better-than-expected first-quarter earnings.
SOPHiA GENETICS SA (NASDAQ:SOPH) gained 21.1% to $5.96.
Kintara Therapeutics, Inc. (NASDAQ:KTRA) climbed 21% to $0.2290.
Surmodics, Inc. (NASDAQ:SRDX) gained 20.3% to $42.23 after the company announced it will be acquired by GTCR for $43 per share in cash for a total equity valuation of roughly $627 million.
Abercrombie & Fitch Co. (NYSE:ANF) gained 15.9% to $176.57 following better-than-expected first-quarter financial results.
DICK’S Sporting Goods, Inc. (NYSE:DKS) rose 15.8% to $225.87 as the company reported better-than-expected first-quarter FY24 earnings and raised the outlook.
Semler Scientific, Inc. (NASDAQ:SMLR) rose 14.8% to $33.28. The company recently announced that its board of directors adopted bitcoin as its primary treasury reserve asset.
Scorpius Holdings, Inc. (NYSE:SCPX) shares gained 14.2% to $0.1279 after gaining 6% on Tuesday.
Banzai International, Inc. (NASDAQ:BNZI) gained 13.5% to $0.1989. Banzai, last week, announced the pricing of a $2.5 million public offering.
Neonode Inc. (NASDAQ:NEON) jumped 12.9% to $3.2746.
Gyre Therapeutics, Inc. (NASDAQ:GYRE) jumped 12.3% to $11.40. Gyre Therapeutics announced expected addition to the Russell 2000® and Russell 3000® Indexes.
Immunovant, Inc. (NASDAQ:IMVT) rose 11.3% to $31.66.
Ascent Solar Technologies, Inc. (NASDAQ:ASTI) gained 11.2% to $0.1660 following a 3% decline on Tuesday.
Box, Inc. (NYSE:BOX) rose 9.1% to $27.30 as the company reported its first-quarter financial results.
Titan Machinery Inc. (NASDAQ:TITN) gained 8.2% to $19.18.

Losers

Faraday Future Intelligent Electric Inc (NASDAQ:FFIE) fell 38.8% to $0.7232. Faraday Future's annual report for fiscal year 2023 showed a revenue of $0.8 million, significantly below analyst estimates of $2.59 million. While the net loss narrowed from $602 million in 2022 to $432 million in 2023, it still paints a concerning financial picture.
AERWINS Technologies Inc. (NASDAQ:AWIN) shares fell 37% to $5.74. AERWINS Technologies shares jumped 143% on Tuesday after the company reported a year-over-year increase in first-quarter EPS results.
SOBR Safe, Inc. (NASDAQ:SOBR) shares fell 32% to $0.2889 after jumping 84% on Monday.
Cue Health Inc. (NASDAQ:HLTH) shares dipped 29.1% to $0.0643 after the company announced that it filed voluntary petitions under Chapter 7 of the U.S. Bankruptcy Code in the District of Delaware to pursue a wind down of its business.
Sharps Technology, Inc. (NASDAQ:STSS) shares declined 26.4% to $0.3810 after surging 141% on Tuesday. In an exchange filing, the company said it has entered into a series of agreements with Nephron SC and Nephron Sterile Compounding Centers.
Fangdd Network Group Ltd. (NASDAQ:DUO) fell 23.8% to $0.8073.
Genetic Technologies Limited (NASDAQ:GENE) declined 18.4% to $1.7301. GTG launched revolutionary geneType test covering 100% risk of breast and ovarian cancer.
CN Energy Group. Inc. (NASDAQ:CNEY) dipped 18% to $0.51.
Predictive Oncology Inc. (NASDAQ:POAI) fell 17.6% to $1.72. Predictive Oncology shares surged 31% on Tuesday after the company announced results from its ovarian caner study with UPMC Magee-Womens Hospital.
Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) dropped 15.3% to $9.15.
American Airlines Group Inc. (NASDAQ:AAL) shares declined 15.3% to $11.38 after the company announced the departure of its executive vice president and lowered guidance for the second quarter.
Bank OZK (NASDAQ:OZK) fell 15% to $39.30 after Citigroup downgraded the stock from Buy to Sell and lowered its price target from $57 to $37.
Crown ElectroKinetics Corp. (NASDAQ:CRKN) dipped 15% to $0.0909.
Onfolio Holdings, Inc. (NASDAQ:ONFO) shares fell 14.3% to $1.13 in pre-market trading after jumping around 36% on Tuesday. Onfolio Holdings, last week, posted a quarterly loss of 14 cents per share.
Veru Inc. (NASDAQ:VERU) fell 13.1% to $0.9644.
Telephone and Data Systems, Inc. (NYSE:TDS) fell 9.3% to $17.31. JP Morgan analyst Sebastiano Petti maintained Telephone and Data with an Overweight and lowered the price target from $36 to $34.
Toast, Inc. (NYSE:TOST) fell 6.4% to $23.81.
Advance Auto Parts, Inc. (NYSE:AAP) fell 5.5% to $66.28 following quarterly earnings.
CAVA Group, Inc. (NYSE:CAVA) shares declined 4.2% to $78.92 following first-quarter results.