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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.

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 DoorDash, Inc. Class A 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 Cerence Inc. 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.

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3. Niu Technologies | Down 17%

Shares of Niu Technologies  (NIU) - Get Niu Technologies 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 Aurinia Pharmaceuticals Inc. 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 Telefonaktiebolaget LM Ericsson Report slipped after the company agreed to purchase business communications service provider Vonage  (VG) - Get Vonage Holdings Corp. 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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