U.S. stocks closed sharply lower with the Nasdaq Composite dipping more than 5% on Tuesday. Here is the list of some big stocks moving lower in the previous session.
- AMTD Digital Inc. (NYSE:HKD) dropped 21.1% to close at $46.00.
- Braze, Inc. (NASDAQ:BRZE) fell 19.3% to close at $35.18 after the company reported Q2 earnings results and issued Q3 2023 adjusted EPS guidance below estimates.
- Relay Therapeutics, Inc. (NASDAQ:RLAY) shares dropped 16.6% to close at $24.03. Relay Therapeutics priced 11.32 million share public offering of common stock at $26.50 per share.
- Syneos Health, Inc. (NASDAQ:SYNH) fell 13.7% to settle at $54.72.
- The Children's Place, Inc. (NASDAQ:PLCE) declined 13.4% to settle at $35.17.
- Unity Software Inc. (NYSE:U) dropped 13.4% to close at $36.66 after Applovin announced it does not intend to submit another proposal to combine with the company and has withdrawn its Aug. 9 proposal.
- Carvana Co. (NYSE:CVNA) dropped 12.9% to close at $36.81.
- MicroStrategy Incorporated (NASDAQ:MSTR) dropped 12.1% to close at $231.25 after August CPI data showed greater-than-expected US inflation.
- Fate Therapeutics, Inc. (NASDAQ:FATE) declined 12.1% to close at $25.59.
- Asana, Inc. (NYSE:ASAN) fell 11.5% to close at $25.42.
- Eastman Chemical Company (NYSE:EMN) declined 11.3% to close at $84.11 after the company issued Q3 guidance below estimates.
- Wayfair Inc. (NYSE:W) dropped 11.1% to close at $49.76.
- Upstart Holdings, Inc. (NASDAQ:UPST) fell 10.9% to close at $24.97.
- Peloton Interactive, Inc. (NASDAQ:PTON) fell 10.3% to close at $9.91 after the company announced Executive Chair John Foley will step down, effective Sept. 12. Karen Boone has been elected Chairperson of the Board.
- Crocs, Inc. (NASDAQ:CROX) dropped 9.8% to settle at $75.39 amid overall market weakness as August CPI readings showed inflation came in greater than expected.
- CarGurus, Inc. (NASDAQ:CARG) fell 9.6% to close at $17.31.
- NVIDIA Corporation (NASDAQ:NVDA) dropped 9.5% to close at $131.31. Shares of semiconductor stocks at large traded lower after August CPI data showed greater-than-expected US inflation, which has caused economic concerns and raised expectations for aggressive Fed policy. Fed rate hikes could drive a slowdown in the economy, which could pressure demand in semiconductor and chip end markets.
- Meta Platforms, Inc. (NASDAQ:META) fell 9.4% to close at $153.13. Shares of social media companies traded lower amid risk-off sentiment following August CPI figures.
- Western Digital Corporation (NASDAQ:WDC) fell 9.1% to close at $39.32. Exane BNP Paribas initiated coverage on Western Digital with an Underperform rating and announced a price target of $30.
- Advanced Micro Devices, Inc. (NASDAQ:AMD) declined 9% to close at $77.03. Shares of semiconductor stocks at large traded lower after August CPI data showed greater-than-expected US inflation, which has caused economic concerns and raised expectations for aggressive Fed policy.
- Coinbase Global, Inc. (NASDAQ:COIN) dropped 8.8% to settle at $75.25 as cryptocurrencies fell following worse-than-expected US inflation data.
- Amazon.com, Inc. (NASDAQ:AMZN) dipped 7.1% to close at $126.82 after August CPI data showed greater-than-expected US inflation.
- AppLovin Corporation (NASDAQ:APP) dropped 6.4% to close at $26.68. Applovin announced it does not intend to submit another proposal to combine with Unity Software and has withdrawn its Aug. 9 proposal.
- Apple Inc. (NASDAQ:AAPL) declined 5.9% to close at $153.84 amid overall market weakness after August CPI readings showed inflation came in greater than expected.
- Microsoft Corporation (NASDAQ:MSFT) dropped 5.5% to settle at $251.99 after August CPI data showed greater-than-expected US inflation.
- Tesla, Inc. (NASDAQ:TSLA) fell 4% to close at $292.13 in sympathy with the broader market after August CPI readings showed inflation came in greater than expected. This has caused economic concerns and has raised expectations for more aggressive Fed policy.
