The company's outlook for new orders was also weaker than expected. Revenue came in higher than expected, according to Refinitiv, but earnings of $4.55 per share missed estimates. Lennar – Shares of Lennar rose 3.8% after the homebuilder reported mixed results for its most recent quarter. Cowen also downgraded the stock to market perform from an outperform rating.
JetBlue – JetBlue slipped 3.6%, continuing declines after the airline on Tuesday warned that December demand is weaker than it previously expected. Thursday's decline comes after shares gained Wednesday on the airline's forecast that 2023 earnings will nearly double. The Wall Street firm cited high inventory and slowing demand in the memory business.ĭelta Air Lines – Delta sank 3% after the stock was downgraded to in line from outperform by Evercore ISI, which said it now sees a more balanced risk/reward for the name. Western Digital – The chip stock tumbled 10.1% after Goldman Sachs downgraded the name to sell from neutral. Snap – Shares of social media company Snap slipped 8.18% after it was downgraded to hold from buy by analysts at Jefferies due to an uncertain macroeconomic backdrop likely to weigh on earnings. AT&T shares 2.28% following a separate downgrade from Morgan Stanley that cited the stock's recent outperformance. Verizon, AT&T - The communication technology stock added 0.85% after Morgan Stanely upgraded it to overweight from equal weight, saying its shares were attractive compared with historical levels. The media giant's been making efforts to cut costs since the merger of AT&T's WarnerMedia unit and Discovery earlier this year.
Discovery's stock shed 8.9% after increasing its restructuring cost estimates by $1 billion. Novavax - Shares of the drugmaker plummeted 34.3% after it proposed a sale of up to $125 million in common stock and a $125 million convertible debt offering. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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