Foot Locker, Peloton Interactive And Other Big Stocks Moving Lower On Wednesday
Portfolio Pulse from Lisa Levin
Several big stocks recorded losses in Wednesday's trading session. Foot Locker shares tumbled 34.4% after a Q2 revenue miss and an increase in inventories. Peloton Interactive fell 23.6% following mixed Q4 results and a decline in Connected Fitness subscribers. Tivic Health Systems, AMC Entertainment Holdings, The Growth for Good Acquisition Corporation, Definitive Healthcare Corp., Lancaster Colony Corporation, Premier, CompX International, iQIYI, CVR Energy, Agiliti, and NIKE also experienced declines.
August 23, 2023 | 3:15 pm
News sentiment analysis
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NEGATIVE IMPACT
Agiliti fell 6.7% after the company announced a $50 million share repurchase plan.
Agiliti's announcement of a $50 million share repurchase plan is likely to negatively impact its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
AMC Entertainment Holdings declined 17.6% ahead of a 10-to-1 reverse stock split.
AMC Entertainment's upcoming 10-to-1 reverse stock split is likely to negatively impact its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
CompX International fell 7.6%.
CompX International's stock price is likely to be negatively impacted in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
CVR Energy declined 7.2% after a large insider sell.
The large insider sell at CVR Energy is likely to negatively impact its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Definitive Healthcare Corp. dipped 9.7%.
Definitive Healthcare Corp.'s stock price is likely to be negatively impacted in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Foot Locker shares tumbled 34.4% after a Q2 revenue miss and an increase in inventories.
Foot Locker's Q2 revenue miss and increased inventories are likely to negatively impact its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
The Growth for Good Acquisition Corporation fell 11.1%.
The Growth for Good Acquisition Corporation's stock price is likely to be negatively impacted in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
iQIYI fell 7.3% after HSBC and Benchmark lowered their price targets on the stock.
HSBC and Benchmark's lowered price targets on iQIYI are likely to negatively impact its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Lancaster Colony Corporation fell 9.6% after the company reported worse-than-expected fourth-quarter results.
Lancaster Colony Corporation's worse-than-expected Q4 results are likely to negatively impact its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
NIKE fell 4% in sympathy with Foot Locker, which reported a Q2 revenue miss and lowered its guidance.
NIKE's stock price is likely to be negatively impacted in the short term due to its association with Foot Locker, which reported a Q2 revenue miss and lowered its guidance.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Premier shares declined 8.1% after the company reported Q4 2023 revenue of $340.4 million, missing the consensus of $356.3 million.
Premier's Q4 2023 revenue miss is likely to negatively impact its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Peloton Interactive fell 23.6% following mixed Q4 results and a decline in Connected Fitness subscribers.
Peloton's mixed Q4 results and decline in Connected Fitness subscribers are likely to negatively impact its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Tivic Health Systems tumbled 23.1% after the company announced a 1-for-100 reverse stock split.
Tivic Health Systems' announcement of a 1-for-100 reverse stock split is likely to negatively impact its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100