Movers: Altria, Airbnb, Coinbase, Kohl's, La-Z-Boy, Revlon

Barry Adams
22 Jun, 2022
New York City

Altria Group plunged 9.1% to $41.56 after the President Biden's administration is planning to place a maximum nicotine limit in cigarettes. 

Separately, the Food and Drugs Administration is preparing to order  Juul Labs to remove its e-cigarettes off the shelves from the U.S. market. The news was first reported by the Wall Street Journal.  

Airbnb Inc declined 1.3% to $100.99 and the stock was downgraded to "market perform" from "market outperform" by JMP Securities citing current price reflects the post-pandemic travel rebound. 

BASF SE declined 5.6% to $11.48 after the chemical company said business in the second-half is likely to face considerable downturn. 

Carlsberg AS declined 1.6% to $24.43 after the alcoholic beverage maker said CFO Heine Dalsgaard has resigned to move to another company backed by a private-equity firm. 

Dalsgaard will remain in the position till the end of 2022. 

Clariant AG declined 3.7% to $18.78 Swiss francs after the company said it plans to trim its business divisions from five to three. 

Coinbase Global dropped 7.5% to $53.20 after the rival cryptocurrency exchange Binance.US dropped the spot bitcoin trading fee. 

Binance.US charged 0.1% spot bitcoin trading fee and Coinbase charged 0.5% for trading fees plus a flat fee of up to $2.99 per trade. 

Credit Agricole SA declined 0.9% to $4.83 and the French-banking group released its strategic roadmap with a target of one million new retail customers and net income of 6 billion euros by 2025. 

Hugo Boss gained 3.0% to $10.66 and the U.K. based Frasers Group increased its stake in the fashion designer and retailer. 

The company has 3.425 million shares of common stock, representing 4.9% and 18.289 million shares of common stock via the sale of put options, representing 26.0% of Hugo Boss's total share capital, the investment group said in a press release today. 

Kohl's Corporation dropped 9.5% to $38.23 after CNBC reported  Franchise Group is said to lower its acquisition offer price closer to $50 a share from $60 a share citing higher inventories forcing the retailer to markdown more items. 

LA-Z-Boy Incorporated surged 9.01% to $24.78 after the furniture retailer said fourth quarter revenues in the quarter ending in April soared 32% to $685 million and net income jumped 53.4% to $57.5 million. 

Diluted earnings per share increased to $1.33 from 81 cents a year ago. 

Mowi ASA dropped 4.8% to $22.22 Norwegian krone after the company repurchased its own 994,692 shares to meet the requirement to complete option remuneration to senior executives granted at 157.53 Norwegian krone. 

The seafood company operates farms in Norway, Ireland, U.K., Canada, and Chile. 

Revlon Inc soared 38.9% to $8.49 and extended its rally since the company filed to go public last week.