Why Bank of Montreal Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

Shares of Bank of Montreal BMO fell sharply during Wednesday's session after the company reported worse-than-expected second-quarter financial results.

Bank of Montreal posted quarterly adjusted earnings of C$2.59 per share, missing market estimates of C$2.77 per share. The company's quarterly sales came in at C$7.988 billion missing expectations of C$8.046 billion, according to data from Benzinga Pro.

Bank of Montreal shares declined 7.1% to $89.32 on Wednesday.

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

Gainers

• ReShape Lifesciences Inc. RSLS shares jumped 82.8% to $0.3799 a day after it received the nod from the U.S. Patent And Trademark Office to issue a patent for its obesity treatment.
• Innovative Eyewear, Inc. LUCY shares jumped 56.1% to $0.64 after the company launched its Eddie Bauer Smart Eyewear collection.
• Brand Engagement Network, Inc. BNAI climbed 41% to $1.7900 after the company announced a $4.95 million private placement and appointed Paul Chang to co-CEO.
• Siyata Mobile Inc. SYTA gained 40% to $2.10. The company yesterday announced that it received an order from the City of Lancaster Public Utilities Department for its SD7 Push-to-Talk handsets, VK7 Vehicle Kits and related accessories.
• AST SpaceMobile, Inc. ASTS climbed 29% to $6.88 after the company announced a partnership with Verizon for direct-to-cellular AST SpaceMobile service when needed for Verizon customers.
• Cheche Group Inc. CCG shares gained 25.4% to $1.67. Cheche Group is expected to host a conference call to discuss first quarter 2024 results on Thursday, May 30.
• Mustang Bio, Inc. MBIO gained 25% to $0.2370.
• Globavend Holdings Limited GVH jumped 23.5% to $1.89 after the company announced an MOU to acquire Top Logistics.
• Ikena Oncology, Inc. IKNA gained 22.5% to $1.63 after the company announced it will discontinue development of IK-930 and evaluate strategic options for both the Company and its development pipeline.
• Ooma, Inc. OOMA rose 22.3% to $9.66 after the company reported better-than-expected first-quarter financial results and issued strong guidance for the second quarter.
• Tantech Holdings Ltd TANH jumped 22% to $0.80. Tantech recently received a notice of non-compliance from the Nasdaq.
• Chewy, Inc. CHWY rose 21.5% to $20.54 following better-than-expected first-quarter earnings.
• SOPHiA GENETICS SA SOPH gained 21.1% to $5.96.
• Kintara Therapeutics, Inc. KTRA climbed 21% to $0.2290.
• Surmodics, Inc. SRDX gained 20.3% to $42.23 after the company announced it will be acquired by GTCR for $43 per share in cash for a total equity valuation of roughly $627 million.
• Abercrombie & Fitch Co. ANF gained 15.9% to $176.57 following better-than-expected first-quarter financial results.
• DICK’S Sporting Goods, Inc. DKS rose 15.8% to $225.87 as the company reported better-than-expected first-quarter FY24 earnings and raised the outlook.
• Semler Scientific, Inc. SMLR rose 14.8% to $33.28. The company recently announced that its board of directors adopted bitcoin as its primary treasury reserve asset.
• Scorpius Holdings, Inc. SCPX shares gained 14.2% to $0.1279 after gaining 6% on Tuesday.
• Banzai International, Inc. BNZI gained 13.5% to $0.1989. Banzai, last week, announced the pricing of a $2.5 million public offering.
• Neonode Inc. NEON jumped 12.9% to $3.2746.
• Gyre Therapeutics, Inc. GYRE jumped 12.3% to $11.40. Gyre Therapeutics announced expected addition to the Russell 2000® and Russell 3000® Indexes.
• Immunovant, Inc. IMVT rose 11.3% to $31.66.
• Ascent Solar Technologies, Inc. ASTI gained 11.2% to $0.1660 following a 3% decline on Tuesday.
• Box, Inc. BOX rose 9.1% to $27.30 as the company reported its first-quarter financial results.
• Titan Machinery Inc. TITN gained 8.2% to $19.18.

Losers

• Faraday Future Intelligent Electric Inc FFIE fell 38.8% to $0.7232. Faraday Future's annual report for fiscal year 2023 showed a revenue of $0.8 million, significantly below analyst estimates of $2.59 million. While the net loss narrowed from $602 million in 2022 to $432 million in 2023, it still paints a concerning financial picture.
• AERWINS Technologies Inc. AWIN shares fell 37% to $5.74. AERWINS Technologies shares jumped 143% on Tuesday after the company reported a year-over-year increase in first-quarter EPS results.
• SOBR Safe, Inc. SOBR shares fell 32% to $0.2889 after jumping 84% on Monday.
• Cue Health Inc. HLTH shares dipped 29.1% to $0.0643 after the company announced that it filed voluntary petitions under Chapter 7 of the U.S. Bankruptcy Code in the District of Delaware to pursue a wind down of its business.
• Sharps Technology, Inc. STSS shares declined 26.4% to $0.3810 after surging 141% on Tuesday. In an exchange filing, the company said it has entered into a series of agreements with Nephron SC and Nephron Sterile Compounding Centers.
• Fangdd Network Group Ltd. DUO fell 23.8% to $0.8073.
• Genetic Technologies Limited GENE declined 18.4% to $1.7301. GTG launched revolutionary geneType test covering 100% risk of breast and ovarian cancer.
• CN Energy Group. Inc. CNEY dipped 18% to $0.51.
• Predictive Oncology Inc. POAI fell 17.6% to $1.72. Predictive Oncology shares surged 31% on Tuesday after the company announced results from its ovarian caner study with UPMC Magee-Womens Hospital.
• Maravai LifeSciences Holdings, Inc. MRVI dropped 15.3% to $9.15.
• American Airlines Group Inc. AAL shares declined 15.3% to $11.38 after the company announced the departure of its executive vice president and lowered guidance for the second quarter.
• Bank OZK OZK fell 15% to $39.30 after Citigroup downgraded the stock from Buy to Sell and lowered its price target from $57 to $37.
• Crown ElectroKinetics Corp. CRKN dipped 15% to $0.0909.
• Onfolio Holdings, Inc. ONFO shares fell 14.3% to $1.13 in pre-market trading after jumping around 36% on Tuesday. Onfolio Holdings, last week, posted a quarterly loss of 14 cents per share.
• Veru Inc. VERU fell 13.1% to $0.9644.
• Telephone and Data Systems, Inc. TDS fell 9.3% to $17.31. JP Morgan analyst Sebastiano Petti maintained Telephone and Data with an Overweight and lowered the price target from $36 to $34.
• Toast, Inc. TOST fell 6.4% to $23.81.
• Advance Auto Parts, Inc. AAP fell 5.5% to $66.28 following quarterly earnings.
• CAVA Group, Inc. CAVA shares declined 4.2% to $78.92 following first-quarter results.

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