Sanofi, Children's Place And Some Other Big Stocks Moving Lower On Wednesday

• Embark Technology, Inc. EMBK fell 25.1% to $12.40. Embark Technology reported the completion of reverse stock split.


• Blueprint Medicines Corporation BPMC fell 22.5% to $53.11 after the company announced top-line results from the registrational Part 2 of the PIONEER clinical trial of AYVAKIT in patients with non-advanced systemic mastocytosis.


• Enovix Corporation ENVX dipped 15% to $21.20.


• Krispy Kreme, Inc. DNUT fell 14.6% to $12.39 after the company reported worse-than-expected Q2 EPS and sales results and issued FY22 adjusted EPS and sales guidance below estimates.


• Membership Collective Group Inc. MCG dropped 14.6% to $6.98 after the company lowered FY22 sales forecast.


• The Children's Place, Inc. PLCE fell 14.2% to $47.15 after the company reported a year-over-year drop in Q2 sales.


• Arvinas, Inc. ARVN fell 13.8% to $45.19.


• Farfetch Limited FTCH dipped 10.7% to $8.92.


• Opendoor Technologies Inc. OPEN declined 9.7% to $5.13.


• Teva Pharmaceutical Industries Limited TEVA dropped 9.6% to $9.98.


• ZipRecruiter, Inc. ZIP fell 9.6% to $17.93.


• Sea Limited SE fell 9.3% to $70.17. Stifel and Citigroup lowered their price targets on the stock.


• Carvana Co. CVNA dropped 9% to $49.64. Shares of several companies in the retail & apparel sector traded lower in sympathy with Target, which reported worse-than-expected Q2 sales results in their earnings.


• Upstart Holdings, Inc. UPST fell 9% to $32.99.


• WeWork Inc. WE fell 8.9% to $5.24.


• LegalZoom.com, Inc. LZ fell 8.6% to $11.27.


• Opendoor Technologies Inc. OPEN fell 8.4% to $5.20.


• Novavax, Inc. NVAX declined 7.8% to $39.53. Novavax Nuvaxovid COVID-19 vaccine was granted expanded provisional approval in New Zealand as a first and second booster for adults.


• Sanofi SNY fell 7.6% to $41.42 after the company announced it is discontinuing the global clinical development program of amcenestrant following the recommendation of an Independent Data Monitoring Committee.


• Teladoc Health, Inc. TDOC declined 7.4% to $36.52 after Guggenheim downgraded the stock from Neutral to Sell and announced a $25 price target.


• Snap Inc. SNAP dropped 7.1% to $11.72.


• Lyft, Inc. LYFT declined 7% to $18.00.


• Zoom Video Communications, Inc. ZM fell 6.3% to $102.35. Shares of software companies traded lower amid a rise in treasury yields, which weighed on growth stocks.


 

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