Why Bank of Montreal Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 29 2024
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- Bank of Montreal Financial Results: Bank of Montreal's shares fell 7.1% after reporting lower-than-expected second-quarter financial results, missing earnings and sales estimates.
- Stocks on the Move: Several other stocks experienced significant movements during the mid-day session:
- ReShape Lifesciences Inc. received a patent, leading to an 82.8% jump in its shares.
- Innovative Eyewear, Inc. saw a 56.1% increase after launching a new eyewear collection.
- Brand Engagement Network, Inc. climbed 41% following a private placement announcement.
- Siyata Mobile Inc. gained 40% due to an order from the City of Lancaster Public Utilities Department.
- AST SpaceMobile, Inc. rose 29% after partnering with Verizon for a new service.
- Other Stock Movements: Various companies experienced notable stock price changes:
- Faraday Future Intelligent Electric Inc. fell 38.8% due to disappointing annual financial results.
- AERWINS Technologies Inc. dropped 37% after a significant increase in EPS results the day before.
- SOBR Safe, Inc. shares declined 32% following a previous 84% surge.
- Cue Health Inc. fell 29.1% after filing for Chapter 7 bankruptcy.
- Sharps Technology, Inc. decreased by 26.4% after entering agreements with Nephron SC.
- Continued Stock Movements: Additional companies witnessed fluctuations in their stock prices:
- Fangdd Network Group Ltd. fell 23.8%.
- Genetic Technologies Limited declined 18.4% despite launching a new geneType test.
- Predictive Oncology Inc. dropped 17.6% after announcing study results.
- Maravai LifeSciences Holdings, Inc. decreased by 15.3%.
- American Airlines Group Inc. shares declined 15.3% due to executive changes and revised guidance.
- Further Stock Changes: More companies experienced shifts in their stock prices:
- Bank OZK fell 15% following a downgrade by Citigroup.
- Crown ElectroKinetics Corp. dipped 15%.
- Onfolio Holdings, Inc. shares fell 14.3% after posting a quarterly loss.
- Veru Inc. dropped 13.1%.
- Telephone and Data Systems, Inc. fell 9.3% after a price target adjustment by JP Morgan.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
