Estee Lauder, NerdWallet, Sprout Social And Other Big Stocks Moving Lower On Wednesday

U.S. stocks mostly traded higher, but the Dow Jones lost around 19 points on Wednesday. Here are some big stocks recording losses in today’s session.

• Estee Lauder Companies, Inc. EL shares tumbled 21.3% to $192.99 after the company reported disappointing quarterly earnings and issued weak full-year guidance, showing a 10%-12% decline in sales.
• NerdWallet, Inc. NRDS shares were down 19.43% to $10.0715 after the company reported higher-than-expected earnings and revenue for the first quarter while guiding to its second-quarter revenues below estimates.
• Icahn Enterprises L.P. IEP shares declined 18.27% to $32.9895 in pre-market trading after a Hindenburg Research report claimed “Ponzi-like” business concerns surrounding the stock.
• Avanos Medical, Inc. AVNS fell 17.43% to $23.915 in pre-market trading after the company’s first quarter Non GAAP earnings of 27 cents per share missed estimates by 1 cent per share and revenues of $191.7 million missed expectations by $3.5 million.
• Sprout Social, Inc. SPT was down, falling 17.40% to $39.915 after the company reported better-than-expected results for the first quarter but issued disappointing guidance for the second quarter.
• Mercury Systems Inc MRCY shares fell 17.19% to $37.50 in pre-market trading. RBC Capital maintained a Sector Perform rating on Mercury Systems, while lowering the price target to $45.
• The Andersons, Inc. ANDE declined 14.25% to $37.63 in pre-market trading after the company’s first-quarter earnings of 20 cents per share beat the consensus estimates of 18 cents per share, despite higher-than-expected sales of $3.88 billion.
• Clearwater Paper Corporation CLE shares dropped 14.22% to $31.13 in pre-market trading after the company’s first-quarter earnings of $1.47 per share missed analyst estimates of $1.75 per share and revenue of $525 million missed expectations by $22 million.
• Shares of Wave Life Sciences Ltd WVE declined by 11.01% to $3.28 after the company reported disappointing results for the first quarter.
• Wix.Com Ltd’s WIX stock tanked 9.79% to $76.24, continuing its downtrend since last week.

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