U.S. stocks closed lower with the Nasdaq 100 dropping around 200 points on Thursday. Here is the list of some big stocks recording losses in the previous session.
- AMTD Digital Inc. HKD shares fell 28.9% to close at $134.69 after jumping 312% on Wednesday.
- Adobe Inc. ADBE dropped 16.8% to close at $309.13 after the company reported Q3 earnings results, issued Q4 sales guidance below estimates and announced it will acquire Figma for approximately $20 billion in cash and stock.
- Arconic Corp ARNC fell 16.6% to close at $21.24 as the company lowered its FY22 sales outlook from $9.6 billion-$10 billion to $9.2 billion-$9.5 billion. The company also said it sees Q3 Adjusted EBITDA to be in the range of $135 million to $150 million.
- Spectrum Brands Holdings, Inc. SPB dropped 16.2% to close at $49.29. Spectrum Brands' will oppose attempt to block the U.S. Department of Justice's Opposition to the sale of its Hardware and Home Improvement division to ASSA ABLOY.
- Steelcase Inc. SCS fell 10.9% to close at $9.60. Sidoti & Co. downgraded Steelcase from Buy to Neutral.
- Groupon, Inc. GRPN fell 10.8% to close at $11.13 after the company said Q3 adjusted EBITDA is expected to be lower than Q2.
- Rocket Lab USA, Inc. RKLB dropped 10.7% to close at $5.10.
- CVR Energy, Inc. CVI fell 9.5% to settle at $29.63. Wolfe Research downgraded CVR Energy from Outperform to Peer Perform.
- Array Technologies, Inc. ARRY dropped 9.5% to close at $18.01 after Jehoshaphat Research issued a short report on the stock.
- HUTCHMED (China) Limited HCM declined 8.8% to settle at $12.07.
- Peabody Energy Corporation BTU dipped 7.2% to close at $21.52.
- PBF Energy Inc. PBF fell 5.5% to close at $28.77. Shares of oil companies traded lower after rail companies and union negotiators came to a tentative agreement, averting a railroad strike. A strike would have caused supply shortages and lifted oil prices.
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