Shares of Mobileye Global Inc. (NASDAQ: MBLY) fell sharply during Thursday’s session after the company issued preliminary FY23 financial results and initial 2024 guidance.
For the fourth quarter, the company expects revenue of $634 million-$638 million (vs. $636.39 million) and adjusted operating income of $241 million-$247 million. The company's previous implied guidance was $623 million-$648 million in revenue.
Wolfe Research analyst Shreyas Patil downgraded Mobileye Global from Outperform to Peer Perform.
Mobileye Global shares dipped 23.5% to $30.37 on Thursday.
Here are some other stocks moving in today's mid-day session.
Gainers
Minim, Inc. (NASDAQ: MINM) shares jumped 170.2% to $4.62.
Omega Therapeutics, Inc. (NASDAQ: OMGA) gained 92.7% to $5.26 after Novo Nordisk entered into a research collaboration with the company.
Avenue Therapeutics, Inc. (NASDAQ: ATXI) shares climbed 65.8% to $0.2920 after the company announced it reached a final agreement with the FDA for the Phase 3 safety study for IV tramadol.
Jeffs' Brands Ltd(NASDAQ: JFBR) gained 40% to $4.41 after surging 25% on Wednesday. Jeffs' Brands, last month, signed non-binding letters of intent with Sky Growth Partners to invest in a DLP laser-based system for counter-drone solutions and laser-based wireless charging technology.
Mobix Labs, Inc. (NASDAQ: MOBX) gained 33.3% to $4.00. Mobix Labs was awarded 15-month contract to supply EMI filtered connectors as part of US Army's M-1 Abrams Tank Program.
ATIF Holdings Limited (NASDAQ: ATIF) jumped 30.6% to $1.32.
Adicet Bio, Inc. (NASDAQ: ACET) surged 26.1% to $2.22. Adicet Bio issued corporate updates and highlighted upcoming priorities for its pipeline programs in 2024.
Smart for Life, Inc. (NASDAQ:
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