Movers: Agilent Tech, Bed Bath & Beyond, Costco, Greenbrier, R1 RCM, Silvergate Capital, WWE, Tesla

  • Scott Peters
  • U.S.A. New York City
  • Jan 6, 2023
  • World Wrestling Entertainment said its founder will return to its board and the company may look for a buyer. Greenbrier dropped after the railcar maker swung to a quarterly loss. Tesla extended its discounts for sales in China.

    Agilent Technologies Inc declined 4.4% to $145.41 after the company said it struck a deal with Akoya Bioscience to develop a solution for tissue analysis. 

    Agilent and Akoya will partner to develop chromogenic and immunofluorescent multiplex assays that include spatial analysis for biopharma companies developing precision cancer therapeutics.

    Akoya Biosciences Inc rose 6.5% to $9.66. 

    Bed Bath & Beyond dropped 21.3% to $1.33 and continued its slide after the struggling retailer warned that the company is running out of cash and looking at all options including bankruptcy. 

    Costco Wholesale Corporation soared 4.8% to $480.49 after the membership club retailer said December sales increased 7.0% from a year ago to $23.88 billion. 

    For the 18 weeks ended January 1, 2023, the big-box retailer reported net sales of $82.16 billion, an increase of 7.6% from $76.34 billion last year.

    Comparable sales at U.S. locations increased 6.4% in the 5-week period ending on January 1 and rose 6.3% in the 18-week period, excluding gasoline sales.   

    However, e-commerce sales, excluding gasoline, declined 5.4% and 3.4% in the 5-week and 18-week period respectively. 

    Doximity Inc dropped 4.2% to $30.66 after Morgan Stanley lowered its rating on online networking service for the medical community to "underweight" from "equal weight" citing weak advertising environment for the digital healthcare publications. 

    Greenbrier Companies Inc dropped 14.0% to $30.02 after the rail car maker reported weaker-than-expected earnings. 

    Revenue in the fiscal first quarter ending in November increased to $766.5 million from $550.7 million a year ago. 

    The railcar maker swung to a net loss of $16.7 million from a profit of $10.8 million and diluted loss per share was 51 cents to a profit of 32 cents a year ago. 

    Gross margin plunged to 6.5% from 10.3 Impacted by increased costs related to outsourced components, material shortages and supply chain issues. 

    R1 RCM Holdco Inc jumped 10.5% to $12.47 after the healthcare technology company offered positive views for 2023 and reaffirmed 2022 estimates. 

    The company reaffirmed its full-year 2022 revenue outlook between $1,790 million and $1,800 million. 

    The company also guided 2023 revenue between $2,280 million and $2,330 million. 

    Silvergate Capital Corp dropped 11.3% to $11.15 and the company extended two-day loss to more than 40% after the bank reported a surge in digit assets withdrawals in December. 

    The bank is also facing questions about its long-term profitability model as cryptocurrency prices remain depressed. 

    Tesla Inc inched up 0.3% to $110.75after dropping to a two-year low below $102  after the company extended discounts for the electric vehicles made in Shanghai, China. 

    Tesla has still not released its December 2022 sales but sales in the first eleven months in 2022 jumped 40% from the previous year. 

    Zero-covid policy and crackdown on tech companies have negatively impacted the sales of the luxury electric vehicle maker and the company has been losing market share to more affordable vehicles made by BYD and Xpeng in China. 

    World Wrestling Entertainment, Inc. increased 19.6% to $86.21 after the company announced the return of founder Vince McMahon and the company is also looking at all strategic options including business sale.

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