U.S. stocks closed mostly higher with the Dow Jones gaining around 146 points on Thursday. Here is the list of some big stocks moving lower in the previous session.
- Okta, Inc. (NASDAQ: OKTA) dipped 33.7% to close at $60.60 after the company reported Q2 earnings results and issued Q3 and FY23 financial guidance. Several analysts also lowered their price targets on the stock.
- Getty Images Holdings, Inc. (NYSE: GETY) tumbled 28.8% to close at $14.42.
- Semtech Corporation (NASDAQ: SMTC) shares fell 27.2% to close at $33.65 after the company issued Q3 sales guidance below analyst estimates. Cowen & Co. and Oppenheimer also downgraded the stock.
- MongoDB, Inc. (NASDAQ: MDB) shares declined 25.3% to close at $241.11 after the company issued earnings guidance below analyst estimates.
- C3.ai, Inc. (NYSE: AI) dropped 19.3% to close at $14.52 after the company reported worse-than-expected Q1 sales results and issued Q3 and FY23 sales guidance below analyst estimates.
- Genesco Inc. (NYSE: GCO) fell 18.4% to close at $46.16 as the company lowered FY23 forecast.
- GitLab Inc. (NASDAQ: GTLB) fell 15.6% to close at $50.53.
- Lands' End, Inc. (NASDAQ: LE) fell 15.3% to settle at $11.70 after the company issued Q3 EPS and sales and FY22 EPS guidance below estimates.
- HashiCorp, Inc. (NASDAQ: HCP) fell 14.4% to close at $30.26.
- Veeva Systems Inc. (NYSE: VEEV) fell 14% to settle at $171.42 after the company issued Q3 and FY23 sales guidance below analyst estimates.
- Samsara Inc. (NYSE: IOT) fell 13% to close at $12.94 following Q3 results.
- Signet Jewelers Limited (NYSE: SIG (LON:SHI)) fell 12% to close at $57.50 following Q2 results.
- Polestar Automotive (NASDAQ:PSNY) Holding UK PLC (NASDAQ: PSNY) fell 11.9% to close at $6.89. Polestar reported H1 sales of $1.04 billion.
- Ciena Corporation (NYSE: CIEN) dipped 10.4% to settle at $45.48 after the company reported worse-than-expected Q3 sales results.
- Enovix Corporation (NASDAQ: ENVX) declined 10% to close at $19.92.
- Vicor Corporation (NASDAQ: VICR) fell 10% to settle at $64.05.
- Fluence Energy, Inc. (NASDAQ: FLNC) fell 9.6% to close at $18.03.
- KnowBe4, Inc. (NASDAQ: KNBE) declined 9.6% to close at $17.37.
- DigitalOcean Holdings, Inc. (NASDAQ: DOCN) fell 8.9% to close at $38.33.
- Neogen Corporation (NASDAQ: NEOG) dropped 9.1% to settle at $19.00.
- Zscaler, Inc. (NASDAQ: ZS) fell 8.6% to close at $145.57.
- Stem, Inc. (NYSE: STEM) declined 8.4% to close at $14.40.
- HubSpot, Inc. (NYSE: HUBS) declined 8% to settle at $310.01. Shares of software companies traded lower amid a rise in treasury yields and expectations of Fed rate hikes, which would impact growth stock valuations.
- NVIDIA Corporation (NASDAQ: NASDAQ:NVDA) fell 7.7% to close at $139.37 following a late Wednesday filing by the company that revealed that the U.S. government has communicated to it the need to secure a license for exporting its powerful AI processors such as the A100 and the yet-to-be-released H100 chips to China. This would prevent the export of these chips to China, one of its key markets.
- Hormel Foods Corporation (NYSE: NYSE:HRL) fell 6.6% to close at $46.98 after the company posted downbeat Q3 earnings and lowered FY22 earnings forecast.
- Monolithic Power Systems, Inc. (NASDAQ: MPWR) dipped 6.1% to close at $425.47.
- Advanced Micro Devices, Inc (NASDAQ: NASDAQ:AMD) fell 3% to close at $82.33 following news that the chipmakers were slapped with certain chip export restrictions to China.
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