Movers: 1800Flowers, Apple, Bed Bath & Beyond, Datadog, Illumina, Lululemon, Okta, Signify

Barry Adams
06 Sep, 2022
New York City

Stocks on Wall Street extended losses to the fourth session in a row, bond yields rose and crude oil prices dropped.  

Crude oil prices eased on the expected decline in demand after China imposed tighter restrictions in several cities impacting as many as 30 million people. 

Yesterday, OPEC+ announced 100,000 barrels a day supply cut as demand softens in China and rising supply from Iran and Venezuela. 

The S&P 500 index decreased 0.3% to 3,895.76 and the Nasdaq Composite index declined 1.1% to 11,512,37. 

Futures of crude oil declined $1.40 to $87.32 a barrel and natural gas edged down 31 cents to $8.44 a thermal unit. 

The yield on 10-year Treasury notes rose 6 points to 3.26%, 30-year bonds increased 5 basis points to 3.406%, and 2-year notes advanced 4 basis points to 3.46%.

1-800-flowers.com Inc declined dropped 7% to $6.92 after the online florist and gift store reported quarterly loss and cited ongoing macroeconomic challenges for the rest of the year at the time of the release of earnings last week. 

Apple Inc declined 1.5% to $155.21 ahead of its product launch event scheduled Wednesday. 

Apple is expected to release its new iPhone 14 and other hardware products at its in-person event for the first time since 2019.  

Bed Bath & Beyond plunged 16.9% to $7.17 after the struggling home goods retailer said CFO Gustavo Arnal committed suicide on Friday. 

The retailer appointed chief accounting officer Laura Crossen as interim chief finance officer. 

Datadog declined 3.2% to $93.73 and extended this year's losses to 43% in active trading. 

The monitoring and security application for cloud computing provider reported a month ago its second quarter revenues increased 74% to $406.1 million. 

Net loss in the second quarter ending in June declined to $4.9 million or 2 cents a share from $9.3 million or 3 cents a share a year ago.  

Illumina, Inc advanced 2.9% to $201.67 after the company said it plans to appeal the European Commission's decision in rejecting the purchase of Grail. 

Last week, the U.S. Federal Trade Commission approved the acquisition of GRAIL, the early cancer detection company, which was announced on August 18, 2021. 

Lululemon Athletica gained 3.7% to $325.66 and the fitness apparel retailer extended one-week gain to 6% after reporting better-than-expected earnings last week.  

Okta Inc declined 4.3% to $61.84 and the cyber security company extended 5-day losses to 32% after several brokers downgraded the company citing ongoing difficulties integrating the recently acquired Auth0. 

The company reported revenues for the fiscal year second quarter ending in July jumped 43% to $452 million and net loss declined to $210 million from $277 million a year ago. 

Signify Health increased 1% to $29.06 after the company agreed to be acquired by CVS for $30.50 a share or $8 billion. 

The home healthcare company will operate as a separate company  under CVS. 

Signify provided home visits or virtual medical services to 2.5 million patients in 2021.   

Signify priced its public offering of 23.5 million shares at $24 each on Feb 10, 2021. 

New Mountain Capital, which holds a 60% stake in the company has agreed to support the deal.