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Why AMD Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

Benzinga ·  May 2 01:01

Shares ofAdvanced Micro Devices, Inc. (NASDAQ:AMD) fell sharply during Wednesday's session as the company reported first-quarter results and issued revenue guidance for the second quarter.

AMD guided to second-quarter revenue of $5.7 billion plus or minus $300 million and a non-GAAP gross margin of about 53% against Street estimates of $5.7 billion in second-quarter revenue. Street expectations for fiscal year 2024 are for earnings of $3.40 per share and revenue of $24.13 billion, respectively, according to data from Benzinga Pro.

Advanced Micro Devices shares dipped 6.9% to $147.44 on Wednesday.

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

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