Stocks wavered on Monday as concern about surging inflation pressure and a weakened China growth rate tamed optimism into third-quarter earnings season.
Here are some of the laggards in the stock market on Friday.
1. Zillow | Decrease 9.4%
Shares of Zillow (ZG) - Get Zillow Group, Inc. Class A Report tumbled Monday after the online real estate services company reportedly paused its home-buying service as it worked through a backlog of properties.
2. Disney | Decrease 3%
Shares of Walt Disney (DIS) - Get Walt Disney Company Report came under pressure Monday after Barclays analyst Kannan Venkateshwar downgraded his rating and cut the price target on the media and entertainment group, citing slower growth from its Disney+ streaming service.
Venkateshwar cut his rating on Disney to equal weight from overweight, and lowered his price target by $35 to $175 a share, noting the group's growth story appears to be weakening heading into the final months of the year.
3. Biogen | Decrease 4.1%
Shares of Biogen (BIIB) - Get Biogen Inc. Report retreated after the biotech giant disclosed that its Tofersen drug failed to slow disease progression in patients with amyotrophic lateral sclerosis, or ALS.
4. Medtronic | Decrease 5.5%
Shares of Medtronic (MDT) - Get Medtronic Plc Report struggled Monday after the company indicated a prolonged timeline for a clinical study for its Symplicity Renal Denervation System, a device to treat hypertension. The study would continue until completed.
The company said that the study would be complete sometime in the second half of next year, while Wall Street analysts had expected the trial to be stopped early.
5. Virgin Galactic | Decrease 1.5%
Shares of Virgin Galactic (SPCE) - Get Virgin Galactic Holdings Inc Report fell after UBS analysts downgraded the stock to sell from neutral. The downgrade followed Virgin’s announcement last week that it was delaying its next flight launch until 2022.