Benzinga - by Avi Kapoor, Benzinga Staff Writer.
U.S. stocks traded lower, with the Dow Jones index falling more than 250 points on Tuesday.
Shares of Morgan Stanley (NYSE: MS) fell during Tuesday’s session after the company reported fourth-quarter financial results.
Morgan Stanley reported a fourth-quarter net profit of $1.5 billion, or 85 cents per diluted share, compared to $2.2 billion or $1.26 in the prior year. The company reported revenues of $12.9 billion, beating the consensus of $12.75 billion.
Morgan Stanley shares fell 4.6% to $85.58 on Tuesday.
Here are some other big stocks recording losses in today’s session.
- Spirit Airlines, Inc. (NYSE: SAVE) shares dipped 46.4% to $8.01.
- Gol Linhas Aéreas Inteligentes S.A. (NYSE: GOL) fell 25.4% to $2.2889.
- Applied Digital Corporation (NASDAQ: APLD) declined 22% to $5.84 after the company reported worse-than-expected second-quarter financial results and said it expects its revenue and EBITDA to be below the low end of its previously guided range for fiscal year 2024.
- WW International, Inc. (NASDAQ: WW) fell 17.2% to $4.6413.
- Waldencast plc (NASDAQ: WALD) fell 16.8% to $8.54.
- IGM Biosciences, Inc. (NASDAQ: IGMS) shares tumbled 16.1% to $9.18.
- Prime Medicine, Inc. (NASDAQ: PRME) fell 14.1% to $ 6.86.
- CompX International Inc. (NYSE: CIX) fell 13.1% to $25.74.
- Stem, Inc. (NYSE: STEM) fell 12.4% to $2.89.
- Wheels Up Experience Inc. (NYSE: UP) fell 10.5% to $3.7048.
- Plug Power Inc. (NASDAQ: PLUG) fell 10.1% to $3.09.
- Opendoor Technologies Inc. (NASDAQ: OPEN) fell 9.1% to $3.1902.
- Leggett & Platt, Incorporated (NYSE: LEG) fell 8.7% to $23.23 after the company announced a restructuring plan, which includes a workforce reduction, and withdrew its long-term financial targets.
- Wipro Limited (NYSE: WIT) fell 8.4% to $5.75. Wedbush analyst Moshe Katri maintained Wipro with an Underperform and raised the price target from $4 to $6.
- The Boeing Company (NYSE: BA) declined 7.8% to $200.61 after Wells Fargo downgraded the stock from Overweight to Equal-Weight and lowered its price target from $280 to $225.
- NIO Inc. (NYSE: NIO) fell 7.6% to $6.63.
- Alcoa Corporation (NYSE: AA) fell 6.7% to $28.00. UBS analyst Curt Woodworth initiated coverage on Alcoa with a Sell rating and announced a price target of $29.
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