Groupon, Spectrum Brands, Adobe And Other Big Losers From Thursday

Groupon, Spectrum Brands, Adobe And Other Big Losers From Thursday

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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