Stocks were mixed Monday ahead of earnings reports as investors watched for a near-term tapering move from the Federal Reserve.
Here are some of the laggards in the stock market on Monday.
1. Zillow | Down 6.3%
Shares of Zillow (Z) - Get Zillow Group, Inc. Class C Report struggled Monday after KeyBanc analyst Edward Yruma highlighted how most of the homes the real estate services company purchased, with an aim to flip them, were now worth less than what they paid for them.
Keybanc said that 66% of 650 homes studied are currently listed below the purchase price at an average discount of 4.5%.
“Zillow may have leaned into home acquisition at the wrong time, and we believe earnings may be at risk due to its current home inventory ($1.17 billion at 2Q21),” Yruma wrote in a note to clients.
2. CrowdStrike | Down 4.5%
Shares of CrowdStrike (CRWD) - Get CrowdStrike Holdings, Inc. Class A Report fell after BTIG analyst downgraded the stock to neutral from buy, citing rising competition and potentially slowing growth.
3. Moderna | Down 2.3%
Shares of Moderna (MRNA) - Get Moderna, Inc. Report slipped Monday after the Food and Drug Administration said it is delaying a decision on the drugmaker’s application to authorize use of its Covid-19 vaccine in adolescents to assess whether the shot leads to a heightened risk of myocarditis.
4. Alphabet | Down 3%
5. PG&E | Down 1.6%
Shares of PG&E (PCG) - Get PG&E Corporation Report traded lower after the gas and electric company swung to a third-quarter loss of $1.09 billion, or 55 cents a share, from net income of $83 million, or 4 cents a share, in the year-ago period.