SmartRent (NYSE:SMRT) Stock

SmartRent

Stein Mart

SmartRent Inc is an enterprise smart home and smart building technology platform for property owners, managers and residents. The SmartRent solution is designed to provide property managers with seamless visibility and control over all their assets while delivering cost savings and additional revenue opportunities through all-in-one home control offerings for residents. Geographical, it operates in the United States and International; majority revenue being generated from the United States.

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J.M. Smucker Posts Upbeat Earnings, Joins LexinFintech, Semtech, Arrowhead Pharmaceuticals And Other Big Stocks Moving Higher On Tuesday

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Why Merck Shares Are Trading Lower By 10%? Here Are Other Stocks Moving In Tuesday&#39;s Mid-Day Session

SmartRent Inc

Management

SmartRent Appoints Shane Paladin As President And CEO

Debuting at a Starwood Capital Group property, Alloy Deadbolt+ is a hands-free smart lock designed specifically for rental housing
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fsmartrent.com%2F&amp;esheet=54161504&amp;newsitemid=20241204639456&amp;lan=en-US&amp;anchor=SmartRent&amp;index=1&amp;md5=e72cf514e309d265c146f79ece8a1764">SmartRent</a>, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMRT#NYSE">SMRT</a>) ("SmartRent" or the "Company"), the leading provider of smart communities solutions and smart operations solutions for the rental housing industry, today announced the launch of Alloy Deadbolt+, a smart lock tailored specifically to the rental housing industry. Debuting first at a Starwood Capital Group property, Alloy Deadbolt+ expands on the security, functionality and convenience of smart locks through its integration with resident keys in Apple Wallet for a seamless resident experience. Residents with Alloy Deadbolt+ locks can easily and securely add their resident keys to Apple Wallet and unlock their apartment unit or key-protected common areas with a simple tap of an iPhone or Apple Watch — eliminating the need to use a traditional, physical key.

SmartRent Launches Alloy Deadbolt+ With Apple Wallet Integration, Enhancing Access Efficiency And Management

U.S. stocks were mixed, with the Dow Jones index falling more than 200 points on Tuesday.
Shares of The J. M. Smucker Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) rose sharply during Tuesday's session after the company reported better-than-expected second-quarter financial results and raised its FY25 adjusted EPS guidance with its <a href="https://www.benzinga.com/news/earnings/24/11/42189572/j-m-smucker-q2-earnings-beat-17-sales-surge-fy25-eps-outlook-boost-more">midpoint above estimates.</a>
Smucker shares surged 6.2% to $120.60 on Tuesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Hesai Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSAI#NASDAQ">HSAI</a>) shares jumped 59% to $7.55 after the company reported better-than-expected third-quarter sales results.</li>
<li>Embecta Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EMBC#NASDAQ">EMBC</a>) gained 30.2% to $18.76 after the company reported better-than-expected fourth-quarter financial results and issued FY25 adjusted EPS guidance above estimates.</li>
<li>LexinFintech Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LX#NASDAQ">LX</a>) surged 22.8% to $4.1750 after the company announced its board approved an amendment for a dividend policy to increase the payout ratio. Also, the company reported third-quarter financial results.</li>
<li>Semtech Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMTC#NASDAQ">SMTC</a>) gained 20.3% to $64.32 as the company reported better-than-expected third-quarter financial results and issued fourth-quarter guidance with its midpoint above estimates.</li>
<li>Arrowhead Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARWR#NASDAQ">ARWR</a>) gained 18.1% to $22.17 after the company entered into a global licensing and collaboration agreement with Sarepta Therapeutics for multiple clinical and preclinical siRNA programs.</li>
<li>Neurogene Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NGNE#NASDAQ">NGNE</a>) shares rose 15% to $25.65.</li>
<li>SmartRent, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMRT#NYSE">SMRT</a>) gained 13.8% to $1.8450.</li>
<li>Sangamo Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMO#NASDAQ">SGMO</a>) gained 12.6% to $2.1850.</li>
<li>POET Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POET#NASDAQ">POET</a>) surged 12.2% to $4.77. POET Technologies recently announced plans to expand its capacity.</li>
<li>Sarepta Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRPT#NASDAQ">SRPT</a>) shares gained 9.1% to $125.10 after the company announced a global licensing and collaboration agreement with Arrowhead Pharmaceuticals for multiple clinical and preclinical siRNA programs.</li>
<li>NRG Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>) gained 8% to $99.21 after Jefferies upgraded the stock from Hold to Buy and raised its price target from $93 to $113.</li>
<li>Exact Sciences Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXAS#NASDAQ">EXAS</a>) surged 7.8% to $59.45. The company announced it will present 10 abstracts at SABCS.</li>
<li>Woodward, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) surged 7.4% to $192.62 after the company reported better-than-expected fourth-quarter EPS and sales.</li>
<li>Rocket Lab USA, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>) gained 7.3% to $25.82.</li>
<li>Hanesbrands Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HBI#NYSE">HBI</a>) gained 5.8% to $8.94. UBS analyst Jay Sole upgraded Hanesbrands from Neutral to Buy and raised the price target from $9 to $11.</li>
</ul>
Now Read This:
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<li> <a href="https://www.benzinga.com/24/11/42190113/starbucks-to-rally-around-13-here-are-10-top-analyst-forecasts-for-tuesday">Starbucks To Rally Around 13%? Here Are 10 Top Analyst Forecasts For Tuesday</a></li>
</ul>

WIIM

SmartRent shares are trading lower after the company reported worse-than-expected Q3 financial results.

SmartRent Shares Halted To The Downside; Stock Now Down -33.52%

SmartRent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMRT#NYSE">SMRT</a>) reported quarterly losses of $(0.05) per share which missed the analyst consensus estimate of $(0.02) by 150 percent. The company reported quarterly sales of $40.510 million which missed the analyst consensus estimate of $45.940 million by 11.82 percent. This is a 30.28 percent decrease over sales of $58.104 million the same period last year.

Earnings Misses

SmartRent Q3 2024 GAAP EPS $(0.05) Misses $(0.02) Estimate, Sales $40.510M Miss $45.940M Estimate

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Shares of companies within the broader tech sector are trading higher amid overall market strength following strong US economic data that could help ease recession concerns. The sector may be experiencing momentum in sympathy with Cisco Systems after the company reported better-than-expected Q4 financial results.

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Shares of companies within the broader technology sector are trading higher amid overall market strength following softer-than-expected PPI figures.

SmartRent shares are trading lower after Keefe, Bruyette & Woods downgraded the stock from Outperform to Market Perform and lowered its price target from $3.50 to $2.

Keefe, Bruyette &amp; Woods analyst Ryan Tomasello downgrades SmartRent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMRT#NYSE">SMRT</a>) from Outperform to Market Perform and lowers the price target from $3.5 to $2.

Downgrades

Price Target

Analyst Ratings

Keefe, Bruyette & Woods Downgrades SmartRent to Market Perform, Lowers Price Target to $2

Cantor Fitzgerald analyst Brett Knoblauch downgrades SmartRent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMRT#NYSE">SMRT</a>) from Overweight to Neutral and lowers the price target from $4 to $2.

Cantor Fitzgerald Downgrades SmartRent to Neutral, Lowers Price Target to $2

Guidance

SmartRent Says In Response To The Ongoing CEO Transition, It Will Temporarily Suspend The Annual Guidance

SmartRent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMRT#NYSE">SMRT</a>) reported quarterly losses of $(0.02) per share which missed the analyst consensus estimate of $(0.01) by 100 percent. This is a 60 percent increase over losses of $(0.05) per share from the same period last year. The company reported quarterly sales of $48.52 million which missed the analyst consensus estimate of $51.60 million by 5.97 percent. This is a 9.15 percent decrease over sales of $53.40 million the same period last year.

SmartRent Q2 EPS $(0.02) Misses $(0.01) Estimate, Sales $48.52M Miss $51.60M Estimate

BTIG analyst Soham Bhonsle downgrades SmartRent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMRT#NYSE">SMRT</a>) from Buy to Neutral.

BTIG Downgrades SmartRent to Neutral

DA Davidson analyst Tom White downgrades SmartRent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMRT#NYSE">SMRT</a>) from Buy to Neutral and lowers the price target from $3.25 to $2.

DA Davidson Downgrades SmartRent to Neutral, Lowers Price Target to $2

U.S. stocks traded mixed toward the end of trading, with the Dow Jones index gaining more than 200 points on Tuesday.
The Dow traded up 0.53% to 40,755.30 while the NASDAQ dipped 1.02% to 17,190.93. The S&amp;P 500 also fell, dropping, 0.40% to 5,441.42.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/40036066/top-3-financials-stocks-which-could-rescue-your-portfolio-for-july">Top 3 Financials Stocks Which Could Rescue Your Portfolio For July</a>
Leading and Lagging Sectors Energy shares jumped by 1.3% on Tuesday.
In trading on Tuesday, information technology shares fell by 2.1%.
Top Headline
The S&amp;P CoreLogic Case-Shiller 20-city home price index rose 6.8% year-over-year in May versus a revised 7.3% gain in April.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Imunon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMNN#NASDAQ">IMNN</a>) shares shot up 153% to $2.98 after the company announced topline results from its Phase 2 OVATION 2 study with IMNN-001. The results showed an 11.1-month improvement in median overall survival compared to standard-of-care alone in the intent-to-treat population.</li>
<li>Shares of JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) got a boost, surging 17% to $6.95 after the company reported better-than-expected second-quarter financial results.</li>
<li>Processa Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCSA#NASDAQ">PCSA</a>) shares were also up, gaining 22% to $2.0750 after the company announced FDA clearance of its IND application for a Phase 2 clinical trial of NGC-Cap in breast cancer.</li>
</ul>
Equities Trading DOWN
<ul>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) shares dropped 80% to $12.11. This sudden decline was triggered by the registration of two private placements with the U.S. Securities and Exchange Commission, which unlocked millions of shares and led to increased selling pressure, Bloomberg reported on Tuesday.</li>
<li>Shares of Ekso Bionics Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EKSO#NASDAQ">EKSO</a>) were down 24% to $1.1355 after the company reported worse-than-expected quarterly sales results.</li>
<li>SmartRent, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMRT#NYSE">SMRT</a>) was down, falling 18% to $1.9601 after the company announced a CEO resignation and suspended its 2024 outlook.</li>
</ul>
Also Check This Out:<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/40036664/jim-cramer-says-no-to-this-health-care-stock-recommends-holding-on-to-constellation-ener"> Jim Cramer Says No To This Health Care Stock, Recommends Holding On To Constellation Energy: &#8216;It&#8217;s Up A Huge Amount&#8217;</a>
Commodities In commodity news, oil traded down 1% to $75.08 while gold traded up 1.2% at $2,453.50.
Silver traded up 2.4% to $28.52 on Tuesday, while copper rose 0.2% to $4.0910.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 rose 0.45%, Germany's DAX gained 0.49% and France's CAC 40 climbed 0.42%. Spain's IBEX 35 Index rose 0.76%, while London's FTSE 100 fell 0.22%.
The Euro Area GDP grew by 0.3% on quarter during the second quarter, the same as in the prior period but above expectations of 0.2%. The economic sentiment indicator in the Eurozone slipped to 95.8 in July from 95.9 in the prior month, while services sentiment indicator fell to 4.8 in July from a revised 6.2 in the prior month.
The German economy shrank 0.1% on quarter during the second quarter, compared to a 0.2% increase in the prior quarter, while Spanish economy expanded by 0.8% quarter-over-quarter in the second quarter. The French economy grew by 0.3% quarter-over-quarter during the second quarter.
Asia Pacific Markets
Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 gaining 0.15%, Hong Kong's Hang Seng Index dipping 1.37%, China's Shanghai Composite Index falling 0.43% and India's S&amp;P BSE Sensex rising 0.12%.
Japanese unemployment rate came in at 2.5% for June, versus market projections of 2.6%.
Economics
<ul>
<li>The number of job openings came in at 8.184 million in June compared to a revised 8.23 million in May.</li>
<li>The S&amp;P CoreLogic Case-Shiller 20-city home price index rose 6.8% year-over-year in May versus a revised 7.3% gain in April.</li>
<li>The FHFA house price index came in unchanged for May.</li>
<li>The Dallas Fed general business activity index for Texas&#8217; service sector climbed to a reading of -0.1 versus prior reading of -4.1.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/40036623/wall-streets-most-accurate-analysts-weigh-in-on-3-industrials-stocks-with-over-4-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Weigh In On 3 Industrials Stocks With Over 4% Dividend Yields</a></li>
</ul>

Shares of Merck &amp; Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) fell sharply during Tuesday's session after the company reported second-quarter financial results and cut its FY24 adjusted EPS <a href="https://www.benzinga.com/general/biotech/24/07/40036607/mercks-q2-earnings-revenue-and-eps-beat-helped-by-strong-keytruda-sales-but-acquisition-costs-bit">guidance below estimates</a>.
Merck reported second-quarter sales of $16.1 billion, up 7% year-over-year, beating the consensus estimate of $15.84 billion. Excluding the impact of foreign exchange, sales increased 11%. Merck reported adjusted EPS of $2.28, a shift from an EPS loss of $(2.06), beating the consensus of $2.15, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Merck shares dipped 9.5% to $115.50 on Tuesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Imunon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMNN#NASDAQ">IMNN</a>) shares jumped 147.8% to $2.9250 after the company announced topline results from its Phase 2 OVATION 2 study with IMNN-001. The results showed an 11.1-month improvement in median overall survival compared to standard-of-care alone in the intent-to-treat population.</li>
<li>Agape ATP Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATPC#NASDAQ">ATPC</a>) surged 97% to $0.1731. AGAPE ATP strengthened wellness division via innovative incubation with emerging local SMEs.</li>
<li>Processa Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCSA#NASDAQ">PCSA</a>) shares climbed 53% to $2.60 after the company announced FDA clearance of its IND application for a Phase 2 clinical trial of NGC-Cap in breast cancer.</li>
<li>INVO Bioscience, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INVO#NASDAQ">INVO</a>) gained 33% to $1.1513.</li>
<li>Jet.AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JTAI#NASDAQ">JTAI</a>) shares gained 29% to $0.3850.</li>
<li>2U, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWOU#NASDAQ">TWOU</a>) jumped 28% to $3.4018.</li>
<li>CalciMedica, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CALC#NASDAQ">CALC</a>) jumped 26.3% to $5.24.</li>
<li>JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) rose 20.6% to $7.16 after the company reported better-than-expected second-quarter financial results.</li>
<li>Lumen Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUMN#NYSE">LUMN</a>) rose 19.1% to $2.3050.</li>
<li>Commvault Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVLT#NASDAQ">CVLT</a>) gained 19.1% to $146.77 after the company reported better-than-expected first-quarter financial results and issued second-quarter revenue guidance above estimates. Also, the company raised its FY25 revenue guidance.</li>
<li>Harmonic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HLIT#NASDAQ">HLIT</a>) climbed 18.8% to $13.96 after the company reported better-than-expected second-quarter financial results and issued third-quarter revenue guidance above estimates.</li>
<li>Meta Data Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIU#NYSE">AIU</a>) gained 18.8% to $5.42.</li>
<li>Enveric Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENVB#NASDAQ">ENVB</a>) rose 18.3% to $0.59 after jumping around 6% on Monday.</li>
<li>Inspirato Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISPO#NASDAQ">ISPO</a>) gained 18.3% to $6.20 after jumping over 50% on Monday.</li>
<li>Sprouts Farmers Market, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFM#NASDAQ">SFM</a>) shares gained 15.9% to $98.13 after the company reported better-than-expected second-quarter financial results and issued its third-quarter earnings guidance above estimates.</li>
<li>NeoGenomics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEO#NASDAQ">NEO</a>) gained 16.1% to $17.00 following upbeat earnings.</li>
<li>Tilray Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) rose 16.1% to $2.1250 after the company reported better-than-expected quarterly financial results.</li>
<li>Sprouts Farmers Market, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFM#NASDAQ">SFM</a>) gained 15.5% to $97.79 after the company reported better-than-expected second-quarter financial results. Additionally, the company issued third-quarter earnings guidance above estimates.</li>
<li>Howmet Aerospace Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HWM#NYSE">HWM</a>) climbed 14.1% to $94.56 following better-than-expected second-quarter earnings, issued strong guidance, raised its dividend, increased its buyback authorization and issued strong guidance.</li>
<li>Repligen Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGEN#NASDAQ">RGEN</a>) gained 13.4% to $156.48 following -quarter earnings.</li>
<li>Varonis Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNS#NASDAQ">VRNS</a>) climbed 13.3% to $54.92 as the company reported better-than-expected second-quarter financial results and raised its FY24 guidance on Monday.</li>
<li>Hayward Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAYW#NYSE">HAYW</a>) gained 11% to $14.98 after the company reported better-than-expected second-quarter EPS results.</li>
<li>F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>) shares rose 10.6% to $196.46 after the company reported better-than-expected third-quarter financial results and raised its FY24 earnings guidance above estimates.</li>
<li>Pharming Group N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PHAR#NASDAQ">PHAR</a>) shares gained 9.8% to $8.28. Pharming Group will report second quarter financial results on Aug. 1.</li>
<li>PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) climbed 8.5% to $63.98 after the company reported better-than-expected second quarter financial results.</li>
<li>Stanley Black &amp; Decker, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SWK#NYSE">SWK</a>) rose 8.1% to $104.28 after the company reported better-than-expected second quarter financial results. Additionally, the company revised its FY24 adjusted EPS forecast upward.</li>
<li>Gartner, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IT#NYSE">IT</a>) gained 6.4% to $500.83 following better-than-expected quarterly earnings.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) shares fell 80.8% to $11.44. This sudden decline was triggered by the registration of two private placements with the U.S. Securities and Exchange Commission, which unlocked millions of shares and led to increased selling pressure, Bloomberg reported on Tuesday.</li>
<li>VBI Vaccines Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VBIV#NASDAQ">VBIV</a>) declined 64.8% to $0.1960 after the company was granted protection under Canada&#8217;s CCAA by the Ontario Superior Court. The company received approval for a DIP loan, and Ernst &amp; Young was appointed as the monitor during the restructuring process.</li>
<li>CNS Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNSP#NASDAQ">CNSP</a>) dipped 40.8% to $0.6158 after the company announced it entered into an exclusive license agreement with Cortice Biosciences.</li>
<li>BIMI Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIMI#NASDAQ">BIMI</a>) tumbled 37% to $0.73.</li>
<li>Bloomz Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLMZ#NASDAQ">BLMZ</a>) dipped 30.7% to $1.78.</li>
<li>Ekso Bionics Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EKSO#NASDAQ">EKSO</a>) fell 26.6% to $1.0901 after the company reported worse-than-expected quarterly sales results.</li>
<li>Novavax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) shares declined 25.2% to $12.27 after declining 4% on Monday.</li>
<li>VSee Health, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSEE#NASDAQ">VSEE</a>) fell 23.3% to $2.7999.</li>
<li>SmartRent, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMRT#NYSE">SMRT</a>) dipped 21.5% to $1.8850 after the company announced a CEO resignation and suspended its 2024 outlook.</li>
<li>Symbotic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>) shares fell 21.1% to $28.13 after the company reported worse-than-expected third-quarter earnings results and issued fourth-quarter revenue guidance below estimates.</li>
<li>Woodward, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) fell 16.5% to $152.91 after the company reported mixed third-quarter financial results and lowered its FY24 revenue guidance below estimates.</li>
<li>NIP Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIPG#NASDAQ">NIPG</a>) fell 16.2% to $13.82. NIP Group announced the closing of its initial public offering and partial exercise of underwriters' option to purchase additional ADSs.</li>
<li>Merchants Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBIN#NASDAQ">MBIN</a>) dipped 16.2% to $43.68 after the company reported worse-than-expected quarterly financial results. Additionally, Raymond James downgraded the stock.</li>
<li>Amkor Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMKR#NASDAQ">AMKR</a>) shares fell 14.2% to $32.24 after the company issued roughly in-line guidance.</li>
<li>OneWater Marine Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONEW#NASDAQ">ONEW</a>) dipped 13.2% to $26.43 after the company reported worse-than-expected third-quarter financial results and issued weak guidance.</li>
<li>Celldex Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLDX#NASDAQ">CLDX</a>) shares fell 11.6% to $37.06 after reporting Phase 2 results for barzolvolimab in chronic inducible urticaria.</li>
<li>Transcat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRNS#NASDAQ">TRNS</a>) declined 11.2% to $120.00 following weak quarterly sales.</li>
<li>CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) dipped 9.7% to $233.65 following reports indicating Delta Air Lines would seek compensation from the cybersecurity company for last week&#8217;s outage.</li>
<li>Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>) shares dipped 9.3% to $50.61 following weak quarterly sales.</li>
<li>Corning Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>) fell 8.7% to $38.99 following second-quarter results.</li>
<li>Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>) shares fell 8.3% to $50.40 after the company reported worse-than-expected second-quarter financial results and issued weak third-quarter revenue guidance.</li>
<li>Ecolab Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECL#NYSE">ECL</a>) declined 6.7% to $231.31 after the company reported worse-than-expected second-quarter sales results.</li>
<li>The Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) fell 6.2% to $159.37 following a quarterly revenue miss.</li>
<li>Diageo plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEO#NYSE">DEO</a>) fell 5.5% to $124.30 after the company missed annual profit expectations.</li>
<li>Fresenius Medical Care AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMS#NYSE">FMS</a>) shares declined 4.5% to $19.45 following weak quarterly sales.</li>
</ul>
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</ul>

Why Merck Shares Are Trading Lower By 10%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session

SmartRent, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMRT#NYSE">SMRT</a>) stock is moving lower Tuesday after the company&#8217;s CEO resigned and the company suspended <a href="https://www.benzinga.com/wiim/24/07/40036678/smartrent-shares-are-trading-lower-after-the-company-announced-a-ceo-resignation-and-suspended-its-2">its 2024 fiscal year outlook</a>.
What Happened: Effective July 29, Lucas Haldemen resigned from his position as CEO and from the company&#8217;s Board of Directors. John Dorman has been appointed chairman of the Board and the Board has started its search for a new CEO.
The Board has formed a Management Committee consisting of current executives to guide the company through the transition period. The Board created an Operating Committee too which will serve under the direction of the Board and oversee the company&#8217;s operations. 
Due to the upcoming CEO transition, cutbacks in the company&#8217;s channel partner program, ongoing market challenges and expected delays in customer spending, SmartRent halted its 2024 fiscal year guidance.
Separately, SmartRent has released preliminary financial earnings for the 2024 fiscal year second quarter. The company expects revenue of $48.5 million. The estimated revenue figure represents a 9% year-over-year decrease and it falls slightly below the company&#8217;s second quarter guidance of $49 million to $55 million.
In addition, the company expects adjusted EBITDA of $0.9 million and a net loss of $4.6 million. The estimated net loss figure represents a 55% year-over-year improvement.
Related Link: <a href="https://www.benzinga.com/insights/analyst-ratings/24/07/40042506/deep-dive-into-jpmorgan-chase-stock-analyst-perspectives-17-ratings">Deep Dive Into JPMorgan Chase Stock: Analyst Perspectives (17 Ratings)</a>
SMRT Price Action: SmartRent stock is trading 17.9% lower at $1.97 as of Tuesday morning per data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: 3196481 from Pixabay.

Why SmartRent Shares Are Moving Lower Tuesday

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite falling around 1% on Tuesday.
The Dow traded up 0.20% to 40,622.69 while the NASDAQ dipped 1.05% to 17,188.10. The S&amp;P 500 also fell, dropping, 0.51% to 5,435.63.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/40036066/top-3-financials-stocks-which-could-rescue-your-portfolio-for-july">Top 3 Financials Stocks Which Could Rescue Your Portfolio For July</a>
Leading and Lagging Sectors Financials shares jumped by 1.3% on Tuesday.
In trading on Tuesday, consumer staples shares fell by 1%.
Top Headline
Procter &amp; Gamble Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) shares fell around 6% on Tuesday after the company reported fourth-quarter FY24 sales of $20.53 billion (flat Y/Y), missing the analyst consensus estimate of $20.74 billion.
Adjusted EPS of $1.40 beat the analyst consensus of $1.37.
P&amp;G said it sees FY25 all-in sales growth of 2% – 4% and organic sales growth of 3% – 5%. This outlook equates to FY25 revenue of $85.72 billion – $87.40 billion versus an estimate of $86.856 billion.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Imunon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMNN#NASDAQ">IMNN</a>) shares shot up 159% to $3.06 after the company announced topline results from its Phase 2 OVATION 2 study with IMNN-001. The results showed an 11.1-month improvement in median overall survival compared to standard-of-care alone in the intent-to-treat population.</li>
<li>Shares of JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) got a boost, surging 21% to $7.18 after the company reported better-than-expected second-quarter financial results.</li>
<li>Processa Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCSA#NASDAQ">PCSA</a>) shares were also up, gaining 30% to $2.2101 after the company announced FDA clearance of its IND application for a Phase 2 clinical trial of NGC-Cap in breast cancer.</li>
</ul>
Equities Trading DOWN
<ul>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) shares dropped 81% to $11.48. This sudden decline was triggered by the registration of two private placements with the U.S. Securities and Exchange Commission, which unlocked millions of shares and led to increased selling pressure, Bloomberg reported on Tuesday.</li>
<li>Shares of Ekso Bionics Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EKSO#NASDAQ">EKSO</a>) were down 23% to $1.1484 after the company reported worse-than-expected quarterly sales results.</li>
<li>SmartRent, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMRT#NYSE">SMRT</a>) was down, falling 22% to $1.88 after the company announced a CEO resignation and suspended its 2024 outlook.</li>
</ul>
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Commodities In commodity news, oil traded down 1.1% to $74.95 while gold traded up 0.5% at $2,436.70.
Silver traded up 1.1% to $28.165 on Tuesday, while copper fell 0.5% to $4.0635.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 rose 0.62%, Germany's DAX gained 0.59% and France's CAC 40 climbed 0.53%. Spain's IBEX 35 Index rose 0.83%, while London's FTSE 100 fell 0.01%.
The Euro Area GDP grew by 0.3% on quarter during the second quarter, the same as in the prior period but above expectations of 0.2%. The economic sentiment indicator in the Eurozone slipped to 95.8 in July from 95.9 in the prior month, while services sentiment indicator fell to 4.8 in July from a revised 6.2 in the prior month.
The German economy shrank 0.1% on quarter during the second quarter, compared to a 0.2% increase in the prior quarter, while Spanish economy expanded by 0.8% quarter-over-quarter in the second quarter. The French economy grew by 0.3% quarter-over-quarter during the second quarter.
Asia Pacific Markets
Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 gaining 0.15%, Hong Kong's Hang Seng Index dipping 1.37%, China's Shanghai Composite Index falling 0.43% and India's S&amp;P BSE Sensex rising 0.12%.
Japanese unemployment rate came in at 2.5% for June, versus market projections of 2.6%.
Economics
<ul>
<li>The number of job openings came in at 8.184 million in June compared to a revised 8.23 million in May.</li>
<li>The S&amp;P CoreLogic Case-Shiller 20-city home price index rose 6.8% year-over-year in May versus a revised 7.3% gain in April.</li>
<li>The FHFA house price index came in unchanged for May.</li>
<li>The Dallas Fed general business activity index for Texas&#8217; service sector climbed to a reading of -0.1 versus prior reading of -4.1.</li>
</ul>
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Crude Oil Down 1%; Procter & Gamble Shares Fall After Q4 Results

SmartRent shares are trading lower after the company announced a CEO resignation and suspended its 2024 outlook.

Press Releases

SmartRent Celebrates One Millionth Self-Guided Tour

SmartRent Reports Third Quarter 2024 Results

SmartRent New Maintenance Dashboards Offer Advanced Performance Data Visualization to Smart Operations Platform

SmartRent Named to 2024 Deloitte Technology Fast 500™ List

SmartRent launches Alloy Deadbolt+ with Apple Wallet integration, enhancing access efficiency and management

SmartRent Wins 2024 MHN Excellence Silver Award for Best Technology

SmartRent Launches $10M Investment Program to Fuel Next-Level Innovation and Customer Success

SmartRent Names Shane Paladin as President and Chief Executive Officer

SmartRent Appoints Ana Pinczuk to its Board of Directors

SmartRent to Report Fourth Quarter and Full-Year 2024 Financial Results on March 5, 2025

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