Lamb Weston Reports Weak Earnings, Joins Paragon 28, Resources Connection And Other Big Stocks Moving Lower On Thursday

U.S. stocks were higher, with the Dow Jones gaining over 150 points on Thursday.

Shares of Lamb Weston Holdings, Inc. LW fell sharply during Thursday’s session after the company reported weak third-quarter results and cut its FY24 outlook.

Lamb Weston posted adjusted earnings of $1.20 per share, missing market estimates of $1.45 per share. The company’s quarterly sales came in at $1.46 billion versus expectations of $1.65 billion, according to data from Benzinga Pro.

Lamb Weston shares tumbled 17.5% to $83.40 on Thursday.

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

• DigiAsia Corp. FAAS shares dipped 20% to $5.37.
• GCT Semiconductor Holding, Inc. GCTS dipped 13.1% to $5.96.
• SolarMax Technology, Inc. SMXT declined 10.9% to $11.75.
• Paragon 28, Inc. FNA fell 10.4% to $10.80. Paragon 28 announced CFO Transition and issued preliminary unaudited net revenue for the first quarter.
• Resources Connection, Inc. RGP dipped 9.2% to $11.15 following weak quarterly sales.
• Aquestive Therapeutics, Inc. AQST declined 8.9% to $3.9850 after the company filed for an up to $250 million mixed shelf offering.
• Rent the Runway, Inc. RENT declined 8.6% to $5.37.
• Paramount Global PARA dipped 8.2% to $12.40 following a report suggesting the Ellison-led bid would require the company to raise new equity.
• Hims & Hers Health, Inc. HIMS fell 4.9% to $14.76.
• Hertz Global Holdings, Inc. HTZ fell 4% to $7.32 after Goldman Sachs downgraded the stock from Neutral to Sell and lowered its price target from $8 to $7.
• Alpine Immune Sciences, Inc. ALPN fell 3.6% to $36.73.

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