Benzinga - U.S. stocks traded mixed, with the Nasdaq Composite dropping around 50 points on Monday. Here are some big stocks recording losses in today’s session.
- Scilex Holding Company (NASDAQ: SCLX) shares dropped 26.7% to $7.52. Scilex Holding, a majority-owned subsidiary of Sorrento Therapeutics, Inc, entered a master distributor agreement with AD Ports Logistics (ADPL).
- EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT) declined 18% to $7.38. Baird recently initiated coverage on the stock with an Outperform rating and a $33 price target.
- BigBear.ai Holdings, Inc. (NASDAQ: BBAI) dropped 11.5% to $2.4850.
- Rackspace Technology, Inc. (NASDAQ: RXT) fell 11% to $1.5850. Barclays maintained Rackspace Tech with an Underweight and lowered the price target from $2 to $1.5.
- HighPeak Energy, Inc. (NASDAQ: HPK) fell 10.3% to $20.26 after Truist Securities initiated coverage on the stock with a Sell rating and a $10 price target.
- C3.ai, Inc. (NYSE: AI) dipped 9.3% to $18.19 after analysts at Wolfe Research downgraded their rating of the stock to Underperform.
- ImmunityBio, Inc. (NASDAQ: IBRX) fell 9% to $2.44.
- Genelux Corporation (NASDAQ: GNLX) fell 7.5% to $26.81.
- Coinbase Global, Inc. (NASDAQ: COIN) dropped 7.4% to $54.65.
- Outlook Therapeutics, Inc. (NASDAQ: OTLK) dropped 7.3% to $1.0850.
- Novonix Limited (NASDAQ: NVX) dropped 7% to $2.5399.
- BJ's Restaurants, Inc. (NASDAQ: BJRI) fell 6.8% to $29.19. Citigroup maintained BJ's Restaurants with a Neutral and lowered the price target from $35 to $33.
- Garrett Motion Inc. (NASDAQ: GTX) fell 6.1% to $7.68. Garrett Motion reported first-quarter FY23 sales of $970 million, up 8% on a GAAP basis, up 13% at constant currency, beating the Street view of $922 million.
- Super Micro Computer, Inc. (NASDAQ: SMCI) dropped 6% to $100.98 after the company announced preliminary financial information for Q3 fiscal 2023. The company sees Q3 revenue of roughly $1.28 billion versus the previous midpoint guidance of $1.47 billion.
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