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A Nio eS8 car is seen during the 19th Shanghai International Automobile Industry Exhibition in Shanghai on April 19, 2021.
Hector Retamal/AFP via Getty Images
The stock market is slipping again following Tuesday’s rout, with the
S&P 500
off 0.2%. Here are stocks making moves Wednesday morning:
2U (TWOU) jumped 14% in the premarket after a report that the educational technology company has received a buyout offer from India’s Byju for more than $1 billion.
AeroVironment (AVAV) dropped 11% in the premarket after the defense supplier’s fiscal 2023 forecast fell short of analysts’ estimates.
Bath & Body Works
(BBWI) has dropped 5% after getting cut to Neutral from Overweight at JPMorgan.
Bed Bath & Beyond
has slumped 13% after announcing that its CEO had “left his role” following a larger-than-expected quarterly loss.
Carnival
(CCL) has fallen 7.8% after Morgan Stanley cut its price target to $7, from $13.
McCormick
(MKC) has fallen 7.4% after missing earnings forecasts and offering disappointing guidance.
NIO (ticker: NIO) fell 7.5% in the U.S. premarket after short seller Grizzly Research claimed that the Chinese electric-vehicle maker exaggerated revenue and profit margins; NIO denied the report.
Pinterest
(PINS) has gained 2.7% after replacing its CEO.
Tesla
(TSLA) has fallen 1.3% amid reports of layoffs at its autopilot division.
Upstart
(UPST) has fallen 9.6% after getting cut to Underweight from Equal Weight at Morgan Stanley.
Write to Ben Levisohn at ben.levisohn@barrons.com
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