Chegg, Community Health Systems, Metropolitan Bank And Other Big Stocks Moving Lower On Tuesday

U.S. stocks traded lower, with the Dow Jones losing around 477 points on Tuesday. Here are some big stocks recording losses in today’s session.

• Chegg, Inc. CHGG shares tumbled 47.2% to $9.30 after the company withdrew its full-year guidance citing ChatGPT impact.
• Community Health Systems, Inc. CYH shares were down 40.1% to $3.73 after the company reported a higher-than-anticipated quarterly loss of 43 cents per share, although revenues of $3.11 billion beat expectations.
• Travere Therapeutics, Inc. TVTX shares fell 29.86% to $15.86 in pre-market trading after the company announced that its DUPLEX Study did not achieve the primary efficacy eGFR slope endpoint over 108 weeks of treatment.
• Shares of Metropolitan Bank Holding Corp MCB declined 21.99% to $20.83 on renewed banking crisis concerns.
• Western Alliance Bancorporation WAL crashed 18.35% to $29.76 as investors awaited the Federal Reserve’s interest rate decision, due Wednesday.
• Premier Inc’s PINC stock tanked 16.31% to $27.96 after the company reported its disappointing revenues and earnings for the fiscal third quarter.
• Trinity Industries, Inc. TRN shares dropped 15.52% to $20.13 in pre-market trading after the company’s first-quarter earnings missed expectations, coming in at 7 cents per share.
• Shares of Credit Acceptance Corp. CACC fell 14.35% to $427.14 after the company reported lower-than-expected quarterly revenues.
• Arista Networks, Inc. ANET fell 13.24% to $138.9699 in pre-market trading. Arista Networks’ quarterly results beat expectations, but the full year guidance was conservative.
• Colliers International Group Inc. CIGI was down, falling 9.98% to $94.79 after the company reported worse-than-expected sales and earnings for the first quarter.

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