DocuSign, Stitch Fix, Netflix and More -Breaking
By Liz Moyer
Investing.com — U.S. stocks plunged Friday following new data showing that inflation has been rising faster than in 1981. These are the top movers in midday for June 10.
- DocuSign Inc The shares fell 24% following a lower-than-expected performance. The company soared in the remote-work phase, however investors are concerned about their outlook now that workers have returned to the office and mortgage demand has cooled. Wall Street analysts have also reduced their price targets and ratings for the stock.
- Stitch Fix (NASDAQ:) Shares fell almost 16% following the report by the company. The outlook was weaker than anticipated, with it announcing that 15% of its salaried employees would be laid off in order to increase growth and size. In the last quarter, the subscription styling service saw 200,000 users leave.
- Netflix Inc (NASDAQ::) Shares dropped 4% following Goldman Sachs’ (NYSE::) decision to reduce them from neutral. This was due to rising competition and the possibility of a recession, which could have an impact on results.
- State Street Corp After rumors that it wanted to acquire Credit Suisse (NYSE :), shares in (NYSE 🙂 plunged 4.5%
- Illumina Inc (NASDAQ) Shares fell almost 10% after gene-based therapy manufacturer said that its chief finance officer would be moving to Quest Diagnostics. (NYSE:
- Spirit Airlines Inc JPMorgan elevated (NYSE:) stock to overweight from neutral, and it rose by 2%. According to the analyst, there’s a strong chance that the merger will be completed. He suggested JetBlue (NASDAQ) is the best option. Spirit deferred a shareholder meeting until later in the month, to discuss Frontier Group’s bid (NASDAQ:).