While Wall Street often strives for good news, United Parcel Service, Inc.’s stock plummeted by 8.3% during Tuesday’s session. The abrupt decline followed the multinational company’s disappointing report of a 7.8% year-on-year decrease in fourth-quarter fiscal 2023 revenue to $24.92 billion, missing the estimated $25.43 billion. Furthermore, the company’s adjusted EPS experienced a sharp drop from $3.62 in Q4 2022 to $2.47. Alas, this was in line with the consensus, but investors remain unimpressed.

In light of these results, it is unsurprising to witness the fall of UPS shares to $145.04 on Tuesday. However, what could be the cause of the nosedive and what implications might this hold for the industry?

Gainers

• Agape ATP Corporation
  shares skyrocketed by 79% to $0.9120.
• Pixelworks, Inc. experienced a substantial 56.8% rise to $2.3209 after the company forged a multi-year agreement with Walt Disney Studios.
• The shares of Agrify Corporation surged by 50.7% to $0.9120 after I-Tseng Jenny Chan disclosed a 49.99% stake in the company through a 13D filing.
• Rail Vision Ltd. advanced by 38.8% to $20.38 following the announcement of its innovative AI-based computer to be incorporated in its Main Line and Switch Yard systems.
• Inspire Veterinary Partners, Inc. rebounded by 38% to $0.2359 after a 24% decline on Monday. Impressively, the company recently filed a prospectus for an up to $5 million public offering.
• Sanmina Corporation witnessed a 36.7% surge to $69.21 subsequent to the company reporting first-quarter financial results that surpassed expectations and issuing second-quarter guidance above estimates.
• Selina Hospitality PLC climbed 20.8% to $0.4603.
• C3is Inc. shares leaped 19.1% to $0.1609 due to a 13G filing indicating a 9.1% stake by S.H.N. Financial.
• Brainstorm Cell Therapeutics Inc. rose 18.2% to $0.39.
• Kura Oncology, Inc. experienced a 16.1% climb to $21.60 after reporting preliminary ziftomenib combination data in acute myeloid leukemia.
• Petros Pharmaceuticals, Inc. gained 13.9% to $1.56 following a notable 25% increase on Monday. Intriguingly, Petros Pharmaceuticals recently announced the completion of the initial cohort of a Phase 2 equivalent self-selection study.
• Tivic Health Systems, Inc. rose by 13.1% to $1.55.
• Nuvve Holding Corp. secured a 12.7% gain to $3.5380 after winning a $16 million contract from Fresno EOC to ‘transition EV fleet without taxing the powergrid’.
• Commvault Systems, Inc. soared 11.6% to $91.01 following robust quarterly results.
• Helmerich & Payne, Inc. ascended by 11.6% to $40.49 subsequent to upbeat earnings.
• Merchants Bancorp surged 9.2% to $47.96. Raymond James analyst Daniel Tamayo upheld Merchants Bancorp with a Strong Buy and raised the price target from $44 to $55.
• Nayax Ltd. climbed 8.4% to $25.15.
• Corning Incorporated surged 8% to $33.62 following strong sales.
• General Motors Company gained 7.6% to $38.06 after reporting better-than-expected fourth-quarter financial results and issuing 2024 adjusted EPS guidance above estimates.
• Celestica Inc. rose 4.6% to $34.06 after reporting better-than-expected fourth-quarter financial results and issuing first-quarter guidance above estimates.

Losers

• Baijiayun Group Ltd
  shares plummeted 66.4% to $2.50.
• Meiwu Technology Company Limited tumbled by 49% to $3.93.
• Sidus Space, Inc. witnessed a 42.7% fall to $4.9863 following the company’s announcement of the pricing of its public offering of 1,251,700 Class A shares at $4.50 per share.
• 60 Degrees Pharmaceuticals, Inc. fell by 40.1% to $0.31 after the company announced the pricing of a $2.4 million public offering.
• Palisade Bio, Inc. declined by 32% to $0.6550. Palisade Bio revealed the exercise of previously issued warrants for $2.5 million.
• Nyxoah S.A. dipped by 39% to $7.53 after a remarkable 31% surge on Monday.
• Revelation Biosciences, Inc.