M&T Bank Reports Q1 Earnings, Joins Snap One, Encore Wire And Other Big Stocks Moving Higher On Monday

U.S. stocks were higher, with the Dow Jones index gaining over 100 points on Monday.

Shares of M&T Bank Corporation MTB rose sharply during Monday’s session after the company reported first-quarter financial results.

Revenue of $2.260 billion, slightly missing the consensus of $2.263 billion. EPS was $3.09, which came in line with the consensus, according to data from Benzinga Pro.

M&T Bank shares surged 5.4% to $141.88 on Monday.

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

• Snap One Holdings Corp. SNPO shares jumped 31.6% to $10.71 after the company announced that it will be acquired by Resideo Technologies.
• Medical Properties Trust, Inc. MPW gained 19.9% to $4.7850 after the company announced that it sold its majority interest in Utah Hospitals.
• SES AI Corporation SES gained 18.7% to $1.77.
• Mobile-health Network Solutions MNDR shares rose 17.7% to $17.67.
• Yatsen Holding Limited YSG jumped 13.3% to $3.41.
• Destiny Tech100 Inc. DXYZ shares rose 12.8% to $32.71 after dipping 42% on Friday.
• Encore Wire Corporation WIRE jumped 11.7% to $291.60 after the company entered an agreement to be acquired by Prysmian for $290 per share in cash.
• Century Aluminum Company CENX shares climbed 9.5% to $18.05.
• BRF S.A. BRFS gained 7.5% to $3.43 after JP Morgan upgraded the stock from Neutral to Overweight. Goldman Sachs analyst Thiago Bortoluci upgraded BRF from Sell to Neutral and raised the price target from $1.9 to $3.1.
• Luminar Technologies, Inc. LAZR gained 7% to $1.3901. Luminar is expected to report financials for the first quarter of 2024 after the closing bell on Tuesday, May 7, 2024.
• ProFrac Holding Corp. ACDC gained 6.3% to $8.99. B of A Securities analyst Chase Mulvehill maintained ProFrac with a Neutral and raised the price target from $8.5 to $9.5.
• Alcoa Corporation AA surged 6% to $37.30.
• Extreme Networks, Inc. EXTR rose 5.7% to $11.31. B. Riley Securities analyst Dave Kang upgraded Extreme Networks from Neutral to Buy and maintained a $14 price target.
• Spirit Airlines, Inc. SAVE surged 4.4% to $4.3612. Spirit Airlines said it expects a first-quarter FY24 revenue of about $1.265 billion against the previous estimate of $1.250 billion – $1.280 billion and the consensus of $1.273 billion.
• Graphjet Technology GTI rose 3.3% to $10.70.

Now Read This: This Analyst With 86% Accuracy Rate Sees Around 32% Upside In Western Digital - Here Are 5 Stock Picks For Last Week From Wall Street's Most Accurate Analysts