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Here are some of the biggest movers on Wednesday, with Johnson & Johnson firmer but C3.ai extending recent losses.
Stock gainers:
-
Johnson & Johnson
JNJ,
+1.05%
shares were adding 3% in premarket action after the company announced a nearly $9 billion settlement over claims that its talcum powder causes cancer. -
Shares in coffee retailer Dutch Bros
BROS,
+0.56%
rose 3% after Wedbush raised the stock from neutral to outperform. Analysts said they believe the company’s adjusted EBITDA guidance is conservative.
Stock decliners:
-
Western Alliance Bancorp
WAL,
-3.76%
shares were down more than 5% as the regional banking sector again comes under pressure following downbeat comments from JP Morgan CEO Jamie Dimon. -
C3.ai
AI,
-26.34%
stock was down 3%, adding to Tuesday’s 26% slump, after short selling firm Kerrisdale Capital published a letter to the artificial intelligence software company’s auditors alleging a series of accounting irregularities, including that it is overstating revenue and margins. -
Walmart
WMT,
-0.98%
fell 1% after the retailer said it expects adjusted earnings per share of $5.90 to $6.05 for its full fiscal 2024, set to end in January. However, this is lower than the FactSet-compiled analyst estimate of $6.11.
