Shares of United Parcel Service, Inc. UPS plummeted during Tuesday’s session following the company’s disappointing fourth-quarter sales results and below-estimate FY24 sales guidance.
The shipping giant reported a 7.8% YoY decline in fourth-quarter fiscal 2023 revenue, falling short of consensus at $24.92 billion, compared to the anticipated $25.43 billion. Meanwhile, adjusted EPS were in line with estimates at $2.47, down from $3.62 in Q4 2022.
United Parcel Service shares sank 8.3% to $145.04 on Tuesday.
Here’s a look at some other movers in today’s mid-day session.
Winners
- Agape ATP Corporation ATPC soared 79% to $0.9120.
- Pixelworks, Inc. PXLW rose 56.8% to $2.3209 after striking a multi-year deal with Walt Disney Studios.
Losers
- Baijiayun Group Ltd RTC shares dipped 66.4% to $2.50.
- Meiwu Technology Company Limited WNW tumbled 49% to $3.93.
Frenzied Sell-Off Sends Shockwaves Through Stock Market
Market Meltdown
- REVB shares dipped 28.4% to $9.30 after a substantial 32% gain on Monday.
- CALX declined 26.6% to $32.56 after the company issued first-quarter adjusted EPS and revenue guidance below expectations.
- ALRN dipped 25.4% to $4.53.
- CNSP shares fell 24.5% to $0.2504 after the company reported pricing of a $4.0 million public offering.
- IMCC dipped 22% to $0.2520.
- SWIN fell 21.7% to $5.05.
- JT declined 21.2% to $0.3785.
- ADXN fell 21.1% to $10.50 after gaining 7% on Monday.
- ATGE dipped 20.5% to $46.60. Short seller Fahmi Quadir has taken a short position in the stock.
- RR fell 19.1% to $2.2640.
- MOTS fell 17% to $0.7751 after publishing results from a European study of the second generation Pure-Vu System in improving visualization for colonoscopy in patients with a history of poor bowel preparation.
- MBUU fell 15.5% to $43.08 after the company reported mixed second-quarter financial results.
- AEON dipped 15.5% to $7.20.
- WFRD declined 14.7% to $85.00.
- ONMD shares fell 13.9% to $1.18 after jumping 156% on Monday.
- BORR fell 11.2% to $6.56.
- PRTA fell 9.8% to $30.43. B of A Securities analyst Tazeen Ahmad downgraded Prothena from Buy to Neutral and lowered the price target from $68 to $38.
- SLB fell 9.4% to $48.18. Schlumberger Chief Sustainability Officer Katharina Beumelburg sold a total of 8,000 shares at an average price of $52.63.
- IFBD declined 9.4% to $0.6430 after gaining around 35% on Monday.
- TDW fell 7.1% to $68.21.
- WHR shares declined 6.7% to $109.81 after the company issued 2024 ongoing EPS and net sales guidance below estimates.
- NOV dipped 6.5% to $19.64.
- JCI fell 4.7% to $53.99 after the company reported mixed first-quarter results and cut its FY24 EPS guidance.
- AOS fell 4.4% to $77.76 following quarterly results.