Benzinga - by Avi Kapoor, Benzinga Staff Writer.
U.S. stocks traded mostly higher, with the Nasdaq Composite gaining around 40 points on Wednesday.
Shares of Pfizer Inc. (NYSE: PFE) shares fell sharply during Wednesday’s session after the company provided FY24 guidance.
For FY24, the pharma giant expects revenue of $58.5 billion-$61.5 billion, including the expected contribution from the Seagen acquisition versus the consensus of $63.17 billion. The company forecasts FY24 adjusted diluted EPS guidance of $2.05-$2.25, including the expected impact of the Seagen acquisition, compared to the consensus of $3.17.
Pfizer shares tumbled 8.8% to $26.07 on Wednesday.
Here are some other big stocks recording losses in today’s session.
- Target Hospitality Corp. (NYSE: TH) shares fell 11% to $9.74 as the company lowered its FY23 guidance.
- Medifast, Inc. (NYSE: MED) dipped 9% to $68.66. LifeMD announced a strategic alliance with Medifast to offer transformative weight management solution.
- Unisys Corporation (NYSE: UIS) fell 6.7% to $4.97.
- JetBlue Airways Corporation (NASDAQ: JBLU) dipped 6.2% to $5.20.
- Southwest Airlines Co. (NYSE: LUV) shares declined 6% to $28.51. Southwest Airlines sees fourth-quarter unit revenues to be down 9%-10% vs. prior view of down 9%-11%.
- Moderna, Inc. (NASDAQ: MRNA) fell 5% to $74.15. Moderna recently announced changes to its operating model to bring focus to its short- and long-term business goals.
- BioNTech SE (NASDAQ: BNTX) fell 4.8% to $93.90.
- XPeng Inc. (NYSE: XPEV) fell 4.7% to $14.81. XPeng Inc. 13D(amended) filing showed Alibaba Group Holding Limited reported a 12.5% stake in the co as of Dec. 6, 2023.
- Paramount Global (NASDAQ: PARAA) fell 4.5% to $19.64.
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