Lamb Weston Reports Weak Earnings, Joins Paragon 28, Resources Connection And Other Big Stocks Moving Lower On Thursday

Author: Avi Kapoor | April 04, 2024 10:44am

U.S. stocks were higher, with the Dow Jones gaining over 150 points on Thursday.

Shares of Lamb Weston Holdings, Inc. (NYSE:LW) fell sharply during Thursday’s session after the company reported weak third-quarter results and cut its FY24 outlook.

Lamb Weston posted adjusted earnings of $1.20 per share, missing market estimates of $1.45 per share. The company’s quarterly sales came in at $1.46 billion versus expectations of $1.65 billion, according to data from Benzinga Pro.

Lamb Weston shares tumbled 17.5% to $83.40 on Thursday.

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

• DigiAsia Corp. (NASDAQ:FAAS) shares dipped 20% to $5.37.
• GCT Semiconductor Holding, Inc. (NYSE:GCTS) dipped 13.1% to $5.96.
• SolarMax Technology, Inc. (NASDAQ:SMXT) declined 10.9% to $11.75.
• Paragon 28, Inc. (NYSE:FNA) fell 10.4% to $10.80. Paragon 28 announced CFO Transition and issued preliminary unaudited net revenue for the first quarter.
• Resources Connection, Inc. (NASDAQ:RGP) dipped 9.2% to $11.15 following weak quarterly sales.
• Aquestive Therapeutics, Inc. (NASDAQ:AQST) declined 8.9% to $3.9850 after the company filed for an up to $250 million mixed shelf offering.
• Rent the Runway, Inc. (NASDAQ:RENT) declined 8.6% to $5.37.
• Paramount Global (NASDAQ:PARA) dipped 8.2% to $12.40 following a report suggesting the Ellison-led bid would require the company to raise new equity.
• Hims & Hers Health, Inc. (NASDAQ:HIMS) fell 4.9% to $14.76.
• Hertz Global Holdings, Inc. (NASDAQ:HTZ) fell 4% to $7.32 after Goldman Sachs downgraded the stock from Neutral to Sell and lowered its price target from $8 to $7.
• Alpine Immune Sciences, Inc. (NASDAQ:ALPN) fell 3.6% to $36.73.

 

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