Acuity Brands Posts Upbeat Earnings, Joins Accolade, Urban Outfitters And Other Big Stocks Moving Higher On Tuesday

Author: Avi Kapoor | January 09, 2024 11:59am

U.S. stocks traded lower, with the Dow Jones index falling over 250 points on Tuesday.

Shares of Acuity Brands, Inc. (NYSE:AYI) rose sharply Tuesday’s session after the company reported better-than-expected first-quarter earnings.

Acuity Brands reported a first-quarter FY24 net sales decline of 9% year-over-year to $934.7 million, marginally missing the consensus of $935.1 million. Adjusted EPS of $3.72 beat the consensus of $3.23.

Acuity Brands shares jumped 10.2% to $225.51 on Tuesday.

Here are some other big stocks recording gains in today’s session.

• Juniper Networks, Inc. (NYSE:JNPR) shares gained 21.5% to $36.71. Hewlett Packard Enterprise Co (NYSE:HPE) is reportedly in advanced discussions to acquire networking equipment competitor Juniper Networks.
• Accolade, Inc. (NASDAQ:ACCD) jumped 17.2% to $13.61 following third-quarter results.
• Century Aluminum Company (NASDAQ:CENX) shares rose 14.4% to $12.18. B. Riley Securities upgraded Century Aluminum from Neutral to Buy and raised the price target from $10 to $14.
• ACM Research, Inc. (NASDAQ:ACMR) surged 12.8% to $19.22. ACM Research said it sees FY23 revenue of $530 million to $545 million.
• Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) gained 10.9% to $13.98.
• Nukkleus Inc. (NASDAQ:NUKK) gained 9.6% to $2.27.
• Wheels Up Experience Inc. (NYSE:UP) jumped 9.6% to $4.66.
• Urban Outfitters, Inc. (NASDAQ:URBN) climbed 9.1% to $39.17 after the company reported a 10% increase in total company net sales for the two months ended Dec. 31, 2023.
• Sotera Health Company (NASDAQ:SHC) rose 9.1% to $17.22. Sotera Health presented FY23 revenue guidance of $1.04 billion to $1.05 billion at 42nd Annual J.P. Morgan Healthcare Conference.
• NextNav Inc. (NASDAQ:NN) gained 9% to $5.04.
• MaxCyte, Inc. (NASDAQ:MXCT) rose 8.9% to $5.00 after the company announced strong preliminary fourth-quarter and full year 2023 revenue results.
• IGM Biosciences, Inc. (NASDAQ:IGMS) gained 8.5% to $12.04.
• Orthofix Medical Inc. (NASDAQ:OFIX) gained 8.4% to $14.40. Orthofix Medical reported preliminary FY23 net sales of $746.3 million versus consensus of $741.52 million.
• Establishment Labs Holdings Inc. (NASDAQ:ESTA) rose 8.4% to $29.95. Establishment Labs announced a $50 Million private placement and preliminary unaudited financial results for the fourth quarter and fiscal year 2023.
• Illumina, Inc. (NASDAQ:ILMN) gained 8.2% to $144.72 after the company reported preliminary FY23 consolidated revenue guidance above estimates.
• Sarepta Therapeutics, Inc. (NASDAQ:SRPT) gained 6.6% to $109.40. Wedbush analyst Andreas Argyrides reiterated Sarepta Therapeutics with an Outperform and maintained a $224 price target.

 

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