Morgan Stanley Reports Q4 Results, Joins Boeing, Alcoa And Other Big Stocks Moving Lower On Tuesday

U.S. stocks traded lower, with the Dow Jones index falling more than 250 points on Tuesday.

Shares of Morgan Stanley MS fell during Tuesday’s session after the company reported fourth-quarter financial results.

Morgan Stanley reported a fourth-quarter net profit of $1.5 billion, or 85 cents per diluted share, compared to $2.2 billion or $1.26 in the prior year. The company reported revenues of $12.9 billion, beating the consensus of $12.75 billion.

Morgan Stanley shares fell 4.6% to $85.58 on Tuesday.

Here are some other big stocks recording losses in today’s session.

• Spirit Airlines, Inc. SAVE shares dipped 46.4% to $8.01.
• Gol Linhas Aéreas Inteligentes S.A. GOL fell 25.4% to $2.2889.
• Applied Digital Corporation APLD declined 22% to $5.84 after the company reported worse-than-expected second-quarter financial results and said it expects its revenue and EBITDA to be below the low end of its previously guided range for fiscal year 2024.
• WW International, Inc. WW fell 17.2% to $4.6413.
• Waldencast plc WALD fell 16.8% to $8.54.
• IGM Biosciences, Inc. IGMS shares tumbled 16.1% to $9.18.
• Prime Medicine, Inc. PRME fell 14.1% to $ 6.86.
• CompX International Inc. CIX fell 13.1% to $25.74.
• Stem, Inc. STEM fell 12.4% to $2.89.
• Wheels Up Experience Inc. UP fell 10.5% to $3.7048.
• Plug Power Inc. PLUG fell 10.1% to $3.09.
• Opendoor Technologies Inc. OPEN fell 9.1% to $3.1902.
• Leggett & Platt, Incorporated LEG fell 8.7% to $23.23 after the company announced a restructuring plan, which includes a workforce reduction, and withdrew its long-term financial targets.
• Wipro Limited WIT fell 8.4% to $5.75. Wedbush analyst Moshe Katri maintained Wipro with an Underperform and raised the price target from $4 to $6.
• The Boeing Company BA declined 7.8% to $200.61 after Wells Fargo downgraded the stock from Overweight to Equal-Weight and lowered its price target from $280 to $225.
• NIO Inc. NIO fell 7.6% to $6.63.
• Alcoa Corporation AA fell 6.7% to $28.00. UBS analyst Curt Woodworth initiated coverage on Alcoa with a Sell rating and announced a price target of $29.

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