First Republic Bank, Activision Blizzard, Enphase Energy And Other Big Stocks Moving Lower On Wednesday

U.S. stocks traded mixed, with the Nasdaq Composite gaining over 100 points on Wednesday. Here are some big stocks recording losses in today’s session.

• First Republic Bank FRC shares tumbled 39.3% to $4.92 on continued downward momentum after the company announced a decline in deposits and revenue for Q1. Also, Maxim Group downgraded the stock from Buy to Hold.
• Apollomics, Inc. APLM dropped 27% to $4.71. Apollomics shares jumped around 60% on Tuesday after EF Hutton initiated coverage on the stock with a Buy rating and a $25 price target.
• Enphase Energy, Inc. ENPH shares declined 23.9% to $167.86 after the company reported worse-than-expected Q1 sales and issued weak Q2 guidance.
• cbdMD, Inc. YCBD dipped 14.4% to $4.65.
• Enova International, Inc. ENVA dropped 13.6% to $41.21 following weak quarterly sales.
• Tenaya Therapeutics, Inc. TNYA fell 13.2% to $4.7550.
• ATRenew Inc. RERE dropped 12.7% to $2.06.
• Mullen Automotive, Inc. MULN fell 11% to $0.0766.
• Activision Blizzard, Inc. ATVI fell 10.8% to $77.29 after the UK's CMA reportedly prevented Microsoft's proposed purchase of the company.
• Saia, Inc. SAIA dropped 10.4% to $251.66.
• Encore Wire Corporation WIRE fell 10.3% to $145.10 after the company reported worse-than-expected Q1 results.
• TFI International Inc. TFII fell 10.2% to $103.30 following weak quarterly results.
• Wallbox N.V. WBX dropped 10% to $2.8150.
• Old Dominion Freight Line, Inc. ODFL declined 9.9% to $305.77 after the company reported worse-than-expected Q1 results.
• SolarEdge Technologies, Inc. SEDG dropped 9.6% to $279.52 in sympathy with Enphase, which reported worse-than-expected Q1 sales and issued weak Q2 guidance.
• Integra LifeSciences Holdings Corporation IART fell 9.5% to $53.26 after the company issued FY23 adjusted EPS guidance below analyst estimates.
• SunPower Corporation SPWR shares fell 8.6% to $12.69.
• Sunrun Inc. RUN fell 7.1% to $19.82.
• AZZ Inc. AZZ dropped 6.8% to $35.83 following weak quarterly sales.

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