Most Popular

Morgan Stanley and Other Big Stocks Experience Losses Morgan Stanley and Other Big Stocks Experience Losses in Tuesday Trading

U.S. stocks traded lower on Tuesday, with the Dow Jones index falling more than 250 points amidst declines in various big stocks.

Morgan Stanley, a prominent financial institution, reported fourth-quarter financial results that underwhelmed investors, leading to a 4.6% decline in their stock on Tuesday.

Morgan Stanley reported a fourth-quarter net profit of $1.5 billion, or 85 cents per diluted share, a decline from the prior year. The company reported revenues of $12.9 billion, surpassing the consensus of $12.75 billion.

However, this performance did not prevent their shares from falling to $85.58 on Tuesday.

Several other big stocks also recorded steep losses in Tuesday’s trading session:

  • Spirit Airlines, Inc. shares dipped 46.4% to $8.01.
  • Gol Linhas Aéreas Inteligentes S.A. fell 25.4% to $2.2889.
  • Applied Digital Corporation declined 22% to $5.84 after reporting worse-than-expected second-quarter financial results.
  • WW International, Inc. fell 17.2% to $4.6413.
  • Waldencast plc fell 16.8% to $8.54.
  • IGM Biosciences, Inc. shares tumbled 16.1% to $9.18.
  • Prime Medicine, Inc. fell 14.1% to $ 6.86.
  • CompX International Inc. fell 13.1% to $25.74.
  • Stem, Inc. fell 12.4% to $2.89.
  • Wheels Up Experience Inc. fell 10.5% to $3.7048.
  • Plug Power Inc. fell 10.1% to $3.09.
  • Opendoor Technologies Inc. fell 9.1% to $3.1902.
  • Leggett & Platt, Incorporated fell 8.7% to $23.23.
  • Wipro Limited fell 8.4% to $5.75.
  • The Boeing Company declined 7.8% to $200.61.
  • NIO Inc. fell 7.6% to $6.63.
  • Alcoa Corporation fell 6.7% to $28.00.

The decline in Boeing is notable, as it comes after Wells Fargo downgraded the stock and announced a lower price target, contributing to its 7.8% decline on Tuesday.

See also  Analyzing Nvidia Stock: Should You Sell Before Earnings?Deciphering the Potential Sell-Off in Nvidia Stock