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. GETY shares dipped 36.4% to close at $8.49.
- Pagaya Technologies Ltd. PGY declined 28.7% to close at $7.87.
- FedEx Corporation 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 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. HKD fell 19.8% to close at $108.00 after tumbling around 29% on Thursday.
- Alignment Healthcare, Inc. ALHC fell 19.5% to settle at $12.88 after the company announced a secondary offering.
- Recursion Pharmaceuticals, Inc. 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. VERV declined 11.9% to close at $36.55.
- WestRock Company 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 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 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. 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 PKG fell 11% to close at $118.07.
- Vipshop Holdings Limited VIPS dropped 10.9% to close at $9.41.
- HighPeak Energy, Inc. HPK fell 10.4% to close at $24.09.
- Natura &Co Holding S.A. NTCO fell 10.3% to close at $5.68.
- Roblox Corporation 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. CAR fell 8.9% to close at $147.30.
- Robinhood Markets, Inc. HOOD fell 8.9% to settle at $10.25.
- New Fortress Energy Inc. NFE fell 8.8% to close at $49.12.
- DoorDash, Inc. DASH dropped 8.2% to close at $59.13. DoorDash and DICK’S Sporting Goods partnered for on-demand retail delivery.
- Aurora Innovation, Inc. AUR fell 7.9% to settle at $2.65.
- United Parcel Service, Inc. 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. AMZN fell 2.2% to close at $123.53 amid overall market weakness following bearish economic comments from FedEx.
Image and article originally from www.benzinga.com. Read the original article here.