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

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

Shares of Acuity Brands, Inc. 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. JNPR shares gained 21.5% to $36.71. Hewlett Packard Enterprise Co HPE is reportedly in advanced discussions to acquire networking equipment competitor Juniper Networks.
• Accolade, Inc. ACCD jumped 17.2% to $13.61 following third-quarter results.
• Century Aluminum Company 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. ACMR surged 12.8% to $19.22. ACM Research said it sees FY23 revenue of $530 million to $545 million.
• Recursion Pharmaceuticals, Inc. RXRX gained 10.9% to $13.98.
• Nukkleus Inc. NUKK gained 9.6% to $2.27.
• Wheels Up Experience Inc. UP jumped 9.6% to $4.66.
• Urban Outfitters, Inc. 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 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. NN gained 9% to $5.04.
• MaxCyte, Inc. MXCT rose 8.9% to $5.00 after the company announced strong preliminary fourth-quarter and full year 2023 revenue results.
• IGM Biosciences, Inc. IGMS gained 8.5% to $12.04.
• Orthofix Medical Inc. 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. 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. ILMN gained 8.2% to $144.72 after the company reported preliminary FY23 consolidated revenue guidance above estimates.
• Sarepta Therapeutics, Inc. 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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