U.S. stocks closed lower with the Nasdaq Composite dropping over 100 points on Friday. Here is the list of some big stocks recording losses in the previous session.
- Getty Images Holdings, Inc. (NYSE: GETY) shares dipped 36.4% to close at $8.49.
- Pagaya Technologies Ltd. (NASDAQ: PGY) declined 28.7% to close at $7.87.
- FedEx Corporation (NYSE: NYSE:FDX) fell 21.4% to close at $161.02 after the company issued preliminary Q1 earnings results. Keybanc and JP Morgan also downgraded the stock.
- NCR Corporation (NYSE: NCR) shares fell 20.3% to close at $23.20 after the company announced it will separate into two independent, publicly traded companies – one focused on digital commerce, the other on ATMs.
- AMTD Digital Inc. (NYSE: HKD) fell 19.8% to close at $108.00 after tumbling around 29% on Thursday.
- Alignment Healthcare, Inc. (NASDAQ: ALHC) fell 19.5% to settle at $12.88 after the company announced a secondary offering.
- Recursion Pharmaceuticals, Inc. (NASDAQ: RXRX) fell 17.6% to close at $10.80. Keybanc initiated coverage on Recursion Pharmaceuticals with an Overweight rating and announced a price target of $20.
- Verve Therapeutics, Inc. (NASDAQ: VERV) declined 11.9% to close at $36.55.
- WestRock Company (NYSE: WRK) declined 11.5% to close at $34.15. Jefferies maintained WestRock with a Hold and lowered the price target from $45 to $42.
- International Paper Company (NYSE: NYSE:IP) fell 11.2% to close at $35.23 after Jefferies downgraded the stock from Hold to Underperform and lowered its price target from $40 to $31.
- Enovix Corporation (NASDAQ: ENVX) dipped 11.2% to settle at $21.74. Shares of several companies in the broader industrials traded lower amid fears of an economic slowdown, which could weigh on consumer spending.
- Carvana Co. (NYSE: CVNA) declined 11.1% to settle at $32.92 amid negative economic sentiment. A slowdown in the economy could cause consumers to cut back on spending, which would negatively impact the auto market.
- Packaging Corporation of America (NYSE: PKG) fell 11% to close at $118.07.
- Vipshop Holdings Limited (NYSE: VIPS) dropped 10.9% to close at $9.41.
- HighPeak Energy, Inc. (NASDAQ: HPK) fell 10.4% to close at $24.09.
- Natura &Co Holding S.A. (NYSE: NTCO) fell 10.3% to close at $5.68.
- Roblox Corporation (NYSE: RBLX) fell 9.2% to close at $39.50 on continued downward momentum following the company's Investor Day event. Also, LightShed partner Brandon Ross tweeted the company's booking growth in August decelerated month over month. Needham maintained Roblox with a Buy and lowered the price target from $55 to $53.
- Avis Budget Group, Inc. (NASDAQ: CAR) fell 8.9% to close at $147.30.
- Robinhood (NASDAQ:HOOD) Markets, Inc. (NASDAQ: HOOD) fell 8.9% to settle at $10.25.
- New Fortress Energy Inc. (NASDAQ: NFE) fell 8.8% to close at $49.12.
- DoorDash, Inc. (NYSE: DASH) dropped 8.2% to close at $59.13. DoorDash and DICK'S Sporting Goods partnered for on-demand retail delivery.
- Aurora Innovation, Inc. (NASDAQ: AUR) fell 7.9% to settle at $2.65.
- United Parcel Service, Inc. (NYSE: NYSE:UPS) shares declined 4.5% to close at $176.71 after FedEx said its fiscal first-quarter results were adversely impacted by global volume softness that accelerated in the final weeks of the quarter.
- Amazon.com, Inc. (NASDAQ: NASDAQ:AMZN) fell 2.2% to close at $123.53 amid overall market weakness following bearish economic comments from FedEx.
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