Why XP Shares Are Trading Lower By Around 12%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session
Portfolio Pulse from Avi Kapoor
Shares of XP Inc. (NASDAQ:XP) fell sharply by around 12% after reporting worse-than-expected first-quarter EPS results. XP posted earnings of 37 cents per share, missing estimates of 40 cents per share, but reported higher-than-expected sales of $818.79 million. Other stocks moving significantly include Akoustis Technologies, Inc. (NASDAQ:AKTS), Barnes & Noble Education, Inc. (NYSE:BNED), and Petco Health and Wellness Company, Inc. (NASDAQ:WOOF).
May 22, 2024 | 5:28 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
XP Inc. shares fell 12% after the company reported worse-than-expected first-quarter EPS results of 37 cents per share, missing market estimates of 40 cents per share. However, the company reported higher-than-expected sales of $818.79 million.
The significant drop in XP's share price is directly linked to the company's failure to meet EPS expectations, which is a critical metric for investors. Despite higher-than-expected sales, the EPS miss has overshadowed the positive sales performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Akoustis Technologies, Inc. shares surged 213.3% to $0.4254 after the company reportedly floated the probability of bankruptcy following a lawsuit loss against Qorvo.
The massive surge in AKTS shares is likely due to speculative trading despite the negative news of potential bankruptcy. Investors may be betting on a turnaround or resolution.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Barnes & Noble Education, Inc. shares gained 119.7% to $1.1883 on continued volatility. Greenhaven last week said it continues to explore a possible transaction with the company.
The significant gain in BNED shares is driven by speculation around a potential transaction with Greenhaven, which could lead to a strategic shift or acquisition.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Petco Health and Wellness Company, Inc. shares gained 23% to $3.0201 following better-than-expected quarterly financial results.
The positive movement in WOOF shares is attributed to the company's strong quarterly financial performance, which exceeded market expectations.
CONFIDENCE 85
IMPORTANCE 50
RELEVANCE 60