Shares of Take-Two Interactive Software, Inc. TTWO plummeted during Friday’s trading following third-quarter earnings announcement.
Take-Two reported third-quarter total net bookings of $1.34 billion, marking a 3% year-over-year decline. The company also revised its 2024 net bookings forecast to $5.25-$5.3 billion, down from $5.45-$5.55 billion previously.
Take-Two Interactive Software shares nosedived by 8.8% to $154.69 on Friday.
Movers and Shakers
Rising Stocks
- Sunworks, Inc. SUNW shares soared 267% to $0.1990.
Falling Stocks
- Synlogic, Inc. SYBX tumbled 53.3% to $1.61 after the company announced it will discontinue Synpheny-3, cease operations and reduce its workforce by more than 90%.
Stock Market Plunge: Company Shares Tumble in Response to Recent News
Impact of Public Offering and Weak Results
- BTAI fell 33.7% to $2.4882 after the company announced a proposed public offering.
- Jin Medical International Ltd. (ZJYL) declined 33.5% to $8.62.
- EMCORE Corporation (EMKR) fell 32% to $0.4275 after posting weak quarterly results.
- MicroAlgo Inc. (MLGO) declined 31% to $0.7172.
- Renalytix Plc (RNLX) shares fell 30% to $0.3791 after climbing over 96% on Thursday.
Industry Association Participation and Earnings Impact
- Lantronix, Inc. (LTRX) fell 28.8% to $4.1350 following weak sales.
- MicroCloud Hologram Inc. (HOLO) shares declined 27.4% to $20.81 after jumping over 59% on Thursday. The company announced it planned to join the Communications Industry Association. HOLO intends to join the Communications Industry Association to foster information technology innovation.
Quarterly Results and Leadership Changes
- eGain Corporation (EGAN) fell 24.4% to $5.77 following second-quarter results.
- AMC Networks Inc. (AMCX) declined 19.1% to $13.78 following weak earnings.
- Virco Mfg. Corporation (VIRC) dipped 18.6% to $9.48.
- Expedia Group, Inc. (EXPE) declined 17.6% to $131.38 after the company reported fourth-quarter financial results and named Ariane Gorin as CEO.
- Adlai Nortye Ltd. (ANL) fell 12.3% to $7.50.
- Newell Brands Inc. (NWL) declined 11.8% to $7.45 following quarterly results.
Earnings Reports and Financial Projections
- Pinterest, Inc. (PINS) shares declined 11.4% to $36.07. Pinterest reported upbeat earnings for its fourth quarter, while sales missed estimates. The company said it sees first-quarter revenue in the range of $690 million to $705 million versus estimates of $702.36 million.
- BILL Holdings, Inc. (BILL) fell 11% to $67.40 following quarterly results.
- Affirm Holdings, Inc. (AFRM) shares fell 10.6% to $43.98 after the company reported second-quarter financial results.
- IBEX Limited (IBEX) fell 10.2% to $15.61.
Impact of Weak Earnings and Business Acquisitions
- Sensient Technologies Corporation (SXT) fell 9.6% to $56.62 following weak earnings.
- Owens Corning (OC) fell 6.9% to $148.43 after the company announced an agreement to acquire Masonite for $3.9 billion.
- Magna International Inc. (MGA) declined 6.5% to $54.89 after the company reported mixed quarterly results.
- Illumina, Inc. (ILMN) shares declined 2.7% to $139.45 following fourth-quarter results.
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