Stocks traded mixed Thursday as investors weighed the Federal Reserve’s latest update on stimulus spending and interest rates.
Here are some of the laggards in the stock market on Thursday.
1. Penn National Gaming PENN | Down 20%
Shares of Penn National Gaming (PENN) - Get Penn National Gaming, Inc. Report slumped after the gambling company reported third-quarter profit below analysts’ estimates as momentum in its core business slowed in the second half of the quarter.
2. Moderna MRNA | Down 19%
Shares of Moderna (MRNA) - Get Moderna, Inc. Report dropped Thursday after the vaccine maker lowered its outlook for full-year revenue. The company now expects product sales of $15 billion to $18 billion this year as opposed to $20 billion estimated previously.
3. Qorvo QRVO | Down 14%
Shares of Qorvo (QRVO) - Get Qorvo, Inc. Report came under pressure after the chipmaker gave a holiday revenue forecast that was below Wall Street expectations amid supply constraints in the sector. Analysts at Wells Fargo cut their share-price target to $220 from $230. Bank of America and Susquehanna also made price-target downgrades.
4. Wayfair W | Down 4.3%
Shares of Wayfair (W) - Get Wayfair, Inc. Class A Report slipped after the online home goods seller reported lower-than-expected revenue. The company said consumers are trending more toward brick-and-mortar stores as Covid restrictions ease.
5. Roku ROKU | Down 7.8%
Shares of Roku ROKU fell after the maker of streaming devices reported lower-than-expected third-quarter revenue and said that TV sales that incorporate its streaming service slowed due to supply-chain issues.