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5 Top Stock Decliners for Monday Range Across Sectors

Several companies were losing ground Monday even as stocks hit fresh record highs.
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Stocks closed mixed Monday after reaching record highs, as President Joe Biden nominated Jerome Powell for a second term as Chairman of the Federal Reserve, with Lael Brainard name as vice chair.

Here are some of the laggards in the stock market on Monday.

1. DoorDash | Down 6.4%

Shares of food delivery service DoorDash  (DASH) - Get Free Report were falling after the company reportedly agreed to pay $5.3 million to settle allegations of failing to provide proper benefits for workers in San Francisco. DoorDash did not admit any wrongdoing as part of the settlement.

2. Cerence | Down 21%

Cerence  (CRNC) - Get Free Report shares were down after the auto-focused software company beat Wall Street's fourth-quarter expectations but offered disappointing guidance first-quarter and full-year. Fourth-quarter net income came to $8 million, while adjust earnings came to 66 cents a share.

3. Niu Technologies | Down 17%

Shares of Niu Technologies  (NIU) - Get Free Report tumbled after the electric scooter company missed Wall Street's third-quarter earnings expectations. Total volume of e-scooter sales rose 58.3% year over year, while revenue advanced 37.1%. The company's international sales network expanded to 41 distributors covering 49 countries.

4. Aurinia Pharmaceuticals | Down 31%

Aurinia Pharmaceuticals  (AUPH) - Get Free Report shares plummeted after the biopharma filed a shelf registration statement that allows the company to create and sell an unlimited number of new shares at will.

5. Ericsson | Down 7.1%

Shares of Ericsson  (ERIC) - Get Free Report slipped after the company agreed to purchase business communications service provider Vonage  (VG) - Get Free Report for $5.3 billion in cash. Sweden-based Ericsson agreed to pay $21 a share for Vonage of Holmdel, N.J.

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