was falling 11% after reporting fiscal fourth-quarter earnings of 32 cents share, below analysts’ estimates of 46 cents. Sales in the quarter were a worse-than-expected $5.6 billion. The used-car retailer also pushed out its timeframe goal to sell more than two million units annually.
reported first-quarter earnings of 52 cents a share, missing estimates by 1 cent, and the stock was down 5.6%. “We had poor weather and a tricky calendar. Good Friday was in March for the first time in five years and fell on the last day of the month,” said CEO Dan Florness, adding that ”the core issue remains poor demand.”
fell 6.7% to $9.58. If the stock finishes at that level Thursday it would mark a record closing low, according to Dow Jones Market Data. The decline in Rivian shares came as
cut pricing for its all-electric F-150 Lightning pickup trucks by $5,500, according to CarsDirect, which cited a memo sent to Ford dealerships. Ford fell 0.2%.
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was rising 37% to $64.42 after agreeing to be acquired by
for $4.9 billion in cash. Vertex will be paying $65 a share for Alpine Immune, an immunological-focused biotechnology company. Alpine Immune’s lead candidate, povetacicept, is a potential treatment for IgA nephropathy, a kidney condition. Vertex shares rose 0.5%.
rose 3.5% to $92.07 after BofA Securities upgraded shares of the sports apparel company to Buy from Neutral and boosted the stock’s price target to $113 from $110.
was up 1.8% to $18.68. The stock had traded lower after being downgraded to Sell from Neutral at
Citi
.
The price target was raised to $16 from 13. Citi analysts said they see risks to the stock on any material pullback in
and slower retail activity.
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was rising 2.4% after the alcohol giant reported fiscal fourth-quarter adjusted earnings of $2.26 a share, beating estimates of $2.11. Beer sales rose 11% in the period but wine and spirits sales fell 6%.
has been accused by the Justice Department of fraudulent practices related to the pricing of Eylea, the company’s vision-impairment drug. “The complaint alleges that Regeneron fraudulently inflated Medicare reimbursement rates for Eylea by knowingly submitting false average sales price reports to the Centers for Medicare and Medicaid Services that excluded certain price concessions,” the DOJ said in a statement. Regeneron said the allegations were ” without merit,” and plans to “vigorously defend itself in court.” Regeneron fell 2.2%.
was up 3.3% to $211.56. Shares of the software company were upgraded to Overweight from Equal Weight at
Barclays
.
Write to Joe Woelfel at [email protected]
