Top Decliners of the Day

1. VSCO reported Q4 earnings of $2.58 per share, $0.12 better than the consensus of $2.46. However, revenues rose only 3.0% year-over-year to $2.08 billion, compared to the $2.08 billion consensus. BMO lowered its price target for VSCO to $26 after the results

2. EVGO reported revenue of $50 million for Q4 2023, beating estimates, but also reported a loss of $0.12 per share, wider than the estimated loss of $0.22 per share. While revenue was better than expected, the wider than expected loss disappointed investors. Additionally, Cantor Fitzgerald downgraded EVGO to Neutral from Overweight and lowered the price target to $5 from $9. The downgrade and lower target price put further downward pressure on the stock.

3. BITF reported fourth-quarter and full-year 2023 results missing EPS estimates. The company earned 1,236 BTC in Q4 2023 and 4,928 BTC in 2023, improving margins but missing expectations.

4. BILI reported fourth quarter and fiscal year 2023 financial results with adjusted EPS loss of $0.19, missing estimates of $0.16 loss per share and quarterly revenue of $894.3 million, slightly missing estimates. The company also sees first quarter revenue guidance below estimates, citing slower gaming catalog releases and macro challenges.

5. ANF reported a strong fourth quarter earnings and issued upbeat guidance for 2024 fiscal year. However, the stock slipped after closing on 2024-03-06 as the rally in recent months led to profit taking. 

6. CDMO stock price declined in recent days due to the company announcing certain preliminary Q3 financial results and a proposed private placement of convertible notes.

7. VKTX announced positive phase 2 clinical trial results for its experimental obesity drug VK2735 in late February, fueling bullish analyst commentary and sending shares sharply higher. However, profit-taking set in and shares declined on March 2nd as investors took profits following the big post-results spike.

8. CIEN stock fell after the company reported weaker-than-expected Q1 financial results for the period ended January 2024. While CIEN's revenue beat estimates, rising customer inventory due to reduced spending impacted profitability. Analysts lowered their price target and ratings for the stock on concerns over demand slowdown in the current economic environment.

9. INFN shares declined after the company reported preliminary Q4 financial results that came below analyst expectations. The company reported preliminary Q4 Adjusted EPS of $0.07-$0.13 vs the $0.09 estimate and revenue of $435M-$452M vs the $437.34M estimate. Analyst Needham reiterated its Strong Buy rating on INFN, but the results disappointed investors.

10. UCAR stock has been declining as of late due to analyst downgrades from several firms including Citi and Goldman Sachs. The analysts cited concerns over slowing demand in China and production cuts announced by UCAR.