3M, Magna International And Other Big Stocks Moving Lower On Tuesday

U.S. stocks traded mostly higher, with the Dow Jones gaining over 50 points on Tuesday. Here are some big stocks recording losses in today’s session.

• Satixfy Communications Ltd. SATX shares tumbled 64% to $2.60. SatixFy recently appointed Ido Gur as its new Chief Executive Officer.
• Scilex Holding Company SCLX fell 36.4% to $6.05.
• Cassava Sciences, Inc. SAVA dropped 22.4% to $28.28 after the company reported top-line clinical results in Phase 2 study evaluating simufilam in Alzheimer's disease.
• MicroCloud Hologram Inc. HOLO declined 21.2% to $10.21.
• FLJ Group Limited FLJ fell 12.4% to $2.33.
• Sorrento Therapeutics, Inc. SRNE dropped 8.9% to $0.9747. Sorrento released unblinded Phase 1b study data of OVYDSO in COVID patients.
• Amyris, Inc. AMRS fell 8.3% to $1.6693.
• PennantPark Floating Rate Capital Ltd. PFLT dropped 8.1% to $10.85. PennantPark Floating Rate Capital announced pricing of $47.6 million public offering of 4.25 million share of common stock at a price of $11.20 per share.
• Magna International Inc. MGA fell 7.6% to $60.47 after the company reported FY22 preliminary sales results. The company expects its EBIT margin to fall below its outlook range.
• ServisFirst Bancshares, Inc. SFBS dropped 7.2% to $66.74 following Q4 results.
• NBT Bancorp Inc. NBTB fell 6.6% to $39.56 following Q4 earnings.
• 3M Company MMM dropped 5.7% to $115.60 after the company reported worse-than-expected Q4 adjusted EPS results and issued FY23 adjusted EPS guidance below estimates.

Check This Out: $3M Bet On This Healthcare Stock? Check Out These 3 Stocks Insiders Are Buying