Why JPMorgan Shares Are Trading Lower By Around 5%? Here Are Other Stocks Moving In Friday's Mid-Day Session

Author: Avi Kapoor | April 12, 2024 02:47pm

Shares of JPMorgan Chase & Co. (NYSE:JPM) fell sharply during Friday’s session following first-quarter earnings.

Net revenue (managed) of $42.5 billion (+8% Y/Y), beating the consensus of $41.8 billion. Excluding an item resulted in an increase of $550 million (after tax) to reported net income from $13.4 billion to $14.0 billion and an increase of $0.19 per share to reported EPS from $4.44 to $4.63. EPS was $4.44, beating the consensus of $4.15.

JPMorgan Chase shares dipped 5.1% to $185.49 on Friday.

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

Gainers

• PaxMedica, Inc. (NASDAQ:PXMD) jumped 143% to $1.0101 after the company announced the completed execution of its three pivotal registration/validation batches of PAX-101.
• EZGO Technologies Ltd. (NASDAQ:EZGO) gained 83.3% to $2.86. EZGO entered into a $1.84 million procurement agreement for sale of security patrol robots and platform.
• Allarity Therapeutics, Inc. (NASDAQ:ALLR) shares jumped 58.8% to $3.6550 after dipping 29% on Thursday. Allarity Therapeutics filed prospectus supplement to increase offering price of common stock that may be offered from $1.4 million to $2.4 million.
• Beneficient (NASDAQ:BENF) rose 45.5% to $0.1006 after dipping around 10% on Thursday.
• NextPlat Corp (NASDAQ:NXPL) shares jumped 44% to $2.1799 after the company reported a year-over-year increase in FY23 consolidated revenue results. NextPlat announced a proposed business combination with Progressive Care Inc.
• HUB Cyber Security Ltd. (NASDAQ:HUBC) gained 31.6% to $1.54.
• 9F Inc. (NASDAQ:JFU) surged 25.1% to $3.63.
• Hanryu Holdings, Inc. (NASDAQ:HRYU) surged 25% to $0.51.
• Argan, Inc. (NYSE:AGX) gained 21.5% to $59.97 as the company reported better-than-expected results for its fourth quarter on Thursday.
• Rent the Runway, Inc. (NASDAQ:RENT) gained 19.6% to $23.55. Rent the Runway shares jumped 162% on Thursday after the company reported mixed fourth-quarter financial results and issued guidance.
• CareMax, Inc. (NASDAQ:CMAX) rose 24% to $3.5751.
• Globe Life Inc. (NYSE:GL) climbed 17% to $57.28 amid volatility following a short report on the stock from Fuzzy Panda Research. Globe Life afterwards issued a statement refuting the allegations raised in the report.
• Lyell Immunopharma, Inc. (NASDAQ:LYEL) rose 16.4% to $3.0989.
• AMTD Digital Inc. (NYSE:HKD) shares gained 14.8% to $3.64.
• Graphjet Technology (NASDAQ:GTI) gained 14.6% to $9.93.
• Intrusion Inc. (NASDAQ:INTZ) climbed 13% to $3.09. Intrusion said on Apr. 3, settlement agreement entered by the company on Oct 2, 2023 was approved by court & judgment was entered consistent with settlement agreement.
• Gatos Silver, Inc. (NYSE:GATO) rose 10.4% to $10.73.
• Coupang, Inc. (NYSE:CPNG) gained 10.3% to $21.01 after it was reported the company will raise membership fees.
• Mobile-health Network Solutions (NASDAQ:MNDR) gained 8.1% to $11.03 on post-IPO volatility.
• Nikola Corporation (NASDAQ:NKLA) rose 4.7% to $0.7503. M&M Residual withdrew its nomination of directors.

Losers

• Motus GI Holdings, Inc. (NASDAQ:MOTS) shared dipped 39.7% to $0.2550 after the company announced that it does not believe that it will be able to maintain the listing of its common stock on the Nasdaq and that it does not intend to appeal the staff's determination. The company said it is exploring a range of strategic and financing alternatives.
• Lixiang Education Holding Co., Ltd. (NASDAQ:LXEH) fell 23.8% to $0.4948.
• Monogram Orthopaedics, Inc. (NASDAQ:MGRM) shares declined 22.2% to $3.14. Monogram shares jumped 79% on Thursday after the company announced it joined the NVIDIA Inception program.
• C3is Inc. (NASDAQ:CISS) fell 21.7% to $2.2450.
• Sunshine Biopharma, Inc. (NASDAQ:SBFM) dipped 19.2% to $0.0703. Sunshine Biopharma announced a 1-for-100 reverse stock split of its common stock, effective at market open on April 17, 2024.
• Rallybio Corporation (NASDAQ:RLYB) fell 18.1% to $2.44. Rallybio shares jumped around 83% on Thursday after the company announced a collaboration with Johnson & Johnson to advance therapeutics for pregnant individuals at risk of FNAIT..
• Marin Software Incorporated (NASDAQ:MRIN) fell 16.4% to $0.50. Marin Software shares fell around 8% on Thursday after the company announced upgrades to its integration with Microsoft Advertising.
• Destiny Tech100 Inc. (NYSE:DXYZ) declined 16.3% to $42.30.
• Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) shares fell 16.3% to $2.4928. Adial Pharmaceuticals shares jumped 106% on Wednesday after the company announced the publication of a peer-reviewed article highlighting the clinical results, strong safety profile, and high compliance among patients administered AD04.
• Agenus Inc. (NASDAQ:AGEN) declined 15.4% to $7.50. Agenus announced updated Phase 1 data and progress on BOT/BAL development in metastatic MSS colorectal cancer.
• Veru Inc. (NASDAQ:VERU) fell 15% to $1.52.
• GCT Semiconductor Holding, Inc. (NYSE:GCTS) fell 12.6% to $6.13.
• VIA optronics AG (NYSE:VIAO) shares declined 11.5% to $0.3992.
• Cassava Sciences, Inc. (NASDAQ:SAVA) fell 11.3% to $23.16.
• Sera Prognostics, Inc. (NASDAQ:SERA) dipped 10.7% to $10.05.
• Forge Global Holdings, Inc. (NYSE:FRGE) fell 9.1% to $2.0450.
• The Lovesac Company (NASDAQ:LOVE) declined 8.1% to $19.05. Roth MKM analyst Matt Koranda maintained Lovesac with a Buy and lowered the price target from $34 to $30.
• Applied Digital Corporation (NASDAQ:APLD) fell 7.5% to $2.44 after the company reported worse-than-expected third-quarter financial results.
• Zoetis Inc. (NYSE:ZTS) fell 7.3% to $150.85 following a Wall Street Journal report titled "What Killed Their Pets? Owners Blame Meds, but Vets Aren't Sure."
• MOGU Inc. (NYSE:MOGU) fell 7.1% to $1.97 after declining around 8% on Thursday.
• Arista Networks, Inc. (NYSE:ANET) declined 6.4% to $277.47 after Rosenblatt downgraded the stock from Buy to Sell.
• Nurix Therapeutics, Inc. (NASDAQ:NRIX) fell 5.3% to $16.30 after the company priced its upsized $175 million public offering of 10,166,667 common shares at $15 per share.

 

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