U.S. stocks traded lower, with the Dow Jones losing around 477 points on Tuesday. Here are some big stocks recording losses in today’s session.
- Chegg, Inc. CHGG shares tumbled 47.2% to $9.30 after the company withdrew its full-year guidance citing ChatGPT impact.
- Community Health Systems, Inc. CYH shares were down 40.1% to $3.73 after the company reported a higher-than-anticipated quarterly loss of 43 cents per share, although revenues of $3.11 billion beat expectations.
- Travere Therapeutics, Inc. TVTX shares fell 29.86% to $15.86 in pre-market trading after the company announced that its DUPLEX Study did not achieve the primary efficacy eGFR slope endpoint over 108 weeks of treatment.
- Shares of Metropolitan Bank Holding Corp MCB declined 21.99% to $20.83 on renewed banking crisis concerns.
- Western Alliance Bancorporation WAL crashed 18.35% to $29.76 as investors awaited the Federal Reserve’s interest rate decision, due Wednesday.
- Premier Inc’s PINC stock tanked 16.31% to $27.96 after the company reported its disappointing revenues and earnings for the fiscal third quarter.
- Trinity Industries, Inc. TRN shares dropped 15.52% to $20.13 in pre-market trading after the company’s first-quarter earnings missed expectations, coming in at 7 cents per share.
- Shares of Credit Acceptance Corp. CACC fell 14.35% to $427.14 after the company reported lower-than-expected quarterly revenues.
- Arista Networks, Inc. ANET fell 13.24% to $138.9699 in pre-market trading. Arista Networks’ quarterly results beat expectations, but the full year guidance was conservative.
- Colliers International Group Inc. CIGI was down, falling 9.98% to $94.79 after the company reported worse-than-expected sales and earnings for the first quarter.
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