Movers: Astra Space, Caesars, Coinbase, DocuSign, McDonald's, Prologis, Zendesk

Barry Adams
13 Jun, 2022
New York City

Astra Space Inc dropped 24.01% to $1.54 after the company rocket this weekend failed to reach orbit carrying NASA's satellites. 

Caesars Entertainment plunged 12.1% to $39.99 and traded at a new 52-week and one-year low. 

Coinbase Global plunged 21.4% to $46.24 after the continued weakness in the largest cryptocurrency bitcoin. 

Bitcoin declined for the 12 weeks in a row from its high near $49,000 in March to $23,000. 

The large bitcoin holder MicroStrategy Inc plunged 19.8% to $163.23 following the  bitcoin fall. 

DocuSign Inc dropped 10.2% to $59.97 on top of 24% losses on Friday after the company missed earnings expectations. Wolfe Research also lowered its rating to "market perform" from "peer perform." 

McDonald's Corp increased 0.7% to $239.14 after the company's Russian operations opened under a new Russian ownership on Russia Day this weekend. 

Alexander Govor, the Siberian entrepreneur, said he paid a token purchase price for McDonald's Russia operations and the U.S. fast food giant has no plans to return to Russia.  

Prologis Inc declined 8.1% to $107.79 after the industrial real estate developer and operator agreed to acquire Duke Realty for $26 billion in an all-cash transaction. 

Under the agreement Duke shareholders will receive 0.475 shares of Prologis shares. 

Duke Realty jumped 0.7% to $50.73. 

Revlon Inc plunged 42% to $1.17 after a Wall Street Journal report without citing sources said that the cosmetic company is facing financial issues and supply chain disruptions and the management is preparing to file for bankruptcy protection as early as this week. 

Today's market decline was led by losses in tech stocks. 

Alphabet Inc dropped 3%, Amazon.com Inc dropped 5.2% and traded only 10% above its pre-pandemic level, Apple Inc fell 2.5%, Adobe declined 3.7%, Netflix plunged 6.2% and extended this year's loss to 71%, and Meta Platforms traced down 4.2%, and Tesla declined 6.2%. 

Zendesk Inc declined 7.9% to $59.84 after Morgan Stanley downgraded the stock to "equal weight" from "overweight."