01:48 PM EST, 12/19/2024 (MT Newswires) -- Jefferies downgraded the shares of ALX Oncology ( ALXO ) to hold from buy while cutting its price target on the stock to $2 from $12.

ALX shares retreated 8.4% as intraday trading volume climbed to more than 1.86 million shares from a daily average of roughly 875,000.

Lamb Weston ( LW ) reported weaker-than-expected fiscal Q2 results while lowering its full-year guidance.

The supplier of frozen potato products said its Chief Executive Officer Tom Werner will step down, effective Jan. 3, but will continue to serve in an advisory role through Aug. 31 to aid the transition.

Shares sank 21%, with intraday trading volume climbing to over 8.12 million versus a daily average of about 2.48 million.

Micron Technology's ( MU ) shares slumped 17% amid heavy trading intraday after the firm reported overnight fiscal Q2 earnings and revenue guidance that missed the market's expectations.

More than 66 million shares traded after midday, compared with the stock's daily average of roughly 22.3 million.

Price: 1.69, Change: -0.16, Percent Change: -8.42