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

Shares of Merck & Co., Inc. MRK fell sharply during Tuesday's session after the company reported second-quarter financial results and cut its FY24 adjusted EPS guidance below estimates.

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 Benzinga Pro.

Merck shares dipped 9.5% to $115.50 on Tuesday.

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

Gainers

• Imunon, Inc. IMNN 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.
• Agape ATP Corporation ATPC surged 97% to $0.1731. AGAPE ATP strengthened wellness division via innovative incubation with emerging local SMEs.
• Processa Pharmaceuticals, Inc. PCSA 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.
• INVO Bioscience, Inc. INVO gained 33% to $1.1513.
• Jet.AI Inc. JTAI shares gained 29% to $0.3850.
• 2U, Inc. TWOU jumped 28% to $3.4018.
• CalciMedica, Inc. CALC jumped 26.3% to $5.24.
• JetBlue Airways Corporation JBLU rose 20.6% to $7.16 after the company reported better-than-expected second-quarter financial results.
• Lumen Technologies, Inc. LUMN rose 19.1% to $2.3050.
• Commvault Systems, Inc. CVLT 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.
• Harmonic Inc. HLIT 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.
• Meta Data Limited AIU gained 18.8% to $5.42.
• Enveric Biosciences, Inc. ENVB rose 18.3% to $0.59 after jumping around 6% on Monday.
• Inspirato Incorporated ISPO gained 18.3% to $6.20 after jumping over 50% on Monday.
• Sprouts Farmers Market, Inc. SFM 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.
• NeoGenomics, Inc. NEO gained 16.1% to $17.00 following upbeat earnings.
• Tilray Brands, Inc. TLRY rose 16.1% to $2.1250 after the company reported better-than-expected quarterly financial results.
• Sprouts Farmers Market, Inc. SFM 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.
• Howmet Aerospace Inc. HWM 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.
• Repligen Corporation RGEN gained 13.4% to $156.48 following -quarter earnings.
• Varonis Systems, Inc. VRNS climbed 13.3% to $54.92 as the company reported better-than-expected second-quarter financial results and raised its FY24 guidance on Monday.
• Hayward Holdings, Inc. HAYW gained 11% to $14.98 after the company reported better-than-expected second-quarter EPS results.
• F5, Inc. FFIV 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.
• Pharming Group N.V. PHAR shares gained 9.8% to $8.28. Pharming Group will report second quarter financial results on Aug. 1.
• PayPal Holdings, Inc. PYPL climbed 8.5% to $63.98 after the company reported better-than-expected second quarter financial results.
• Stanley Black & Decker, Inc. SWK 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.
• Gartner, Inc. IT gained 6.4% to $500.83 following better-than-expected quarterly earnings.

Losers

• QXO, Inc. QXO 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.
• VBI Vaccines Inc. VBIV declined 64.8% to $0.1960 after the company was granted protection under Canada’s CCAA by the Ontario Superior Court. The company received approval for a DIP loan, and Ernst & Young was appointed as the monitor during the restructuring process.
• CNS Pharmaceuticals, Inc. CNSP dipped 40.8% to $0.6158 after the company announced it entered into an exclusive license agreement with Cortice Biosciences.
• BIMI Holdings Inc. BIMI tumbled 37% to $0.73.
• Bloomz Inc. BLMZ dipped 30.7% to $1.78.
• Ekso Bionics Holdings, Inc. EKSO fell 26.6% to $1.0901 after the company reported worse-than-expected quarterly sales results.
• Novavax, Inc. NVAX shares declined 25.2% to $12.27 after declining 4% on Monday.
• VSee Health, Inc. VSEE fell 23.3% to $2.7999.
• SmartRent, Inc. SMRT dipped 21.5% to $1.8850 after the company announced a CEO resignation and suspended its 2024 outlook.
• Symbotic Inc. SYM 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.
• Woodward, Inc. WWD fell 16.5% to $152.91 after the company reported mixed third-quarter financial results and lowered its FY24 revenue guidance below estimates.
• NIP Group Inc. NIPG 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.
• Merchants Bancorp MBIN dipped 16.2% to $43.68 after the company reported worse-than-expected quarterly financial results. Additionally, Raymond James downgraded the stock.
• Amkor Technology, Inc. AMKR shares fell 14.2% to $32.24 after the company issued roughly in-line guidance.
• OneWater Marine Inc. ONEW dipped 13.2% to $26.43 after the company reported worse-than-expected third-quarter financial results and issued weak guidance.
• Celldex Therapeutics, Inc. CLDX shares fell 11.6% to $37.06 after reporting Phase 2 results for barzolvolimab in chronic inducible urticaria.
• Transcat, Inc. TRNS declined 11.2% to $120.00 following weak quarterly sales.
• CrowdStrike Holdings, Inc. CRWD dipped 9.7% to $233.65 following reports indicating Delta Air Lines would seek compensation from the cybersecurity company for last week’s outage.
• Rambus Inc. RMBS shares dipped 9.3% to $50.61 following weak quarterly sales.
• Corning Incorporated GLW fell 8.7% to $38.99 following second-quarter results.
• Lattice Semiconductor Corporation LSCC 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.
• Ecolab Inc. ECL declined 6.7% to $231.31 after the company reported worse-than-expected second-quarter sales results.
• The Procter & Gamble Company PG fell 6.2% to $159.37 following a quarterly revenue miss.
• Diageo plc DEO fell 5.5% to $124.30 after the company missed annual profit expectations.
• Fresenius Medical Care AG FMS shares declined 4.5% to $19.45 following weak quarterly sales.

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