Stocks were rising Wednesday as investors continued to assess the impact of the economic fallout from the Covid omicron variant.
Here are some companies that took a hit Wednesday.
1. CarMax KMX | Down 6.7%
Shares of CarMax (KMX) - Get CarMax, Inc. Report turned negative Wednesday after rising premarket. The used-car retailer reported stronger-than-expected third-quarter earnings. Used-car prices have surged during the Covid pandemic.
2. Alibaba BABA | Down 4.7%
U.S.-listed shares of Alibaba (BABA) - Get Alibaba Group Holding Ltd. Report struggled Wednesday after Beijing's technology ministry suspended a cybersecurity partnership with the e-commerce giant's cloud-computing unit, according to a report by The Wall Street Journal.
3. BuzzFeed BZFD | Down 7.1%
4. Rite Aid RAD | Down 7.2%
Shares of Rite Aid (RAD) - Get Rite Aid Corporation Report struggled. On Tuesday, the drugstore chain reported fiscal-third-quarter earnings that exceeded Wall Street forecasts and it said it would close 63 stores.
The store closures will boost earnings before interest, taxes, depreciation and amortization by $25 million a year, Rite Aid said. It began shuttering locations last month.
5. Moderna MRNA | Down 7%
Shares of Moderna (MRNA) - Get Moderna, Inc. Report fell Wednesday after drugmaker Pfizer's (PFE) - Get Pfizer Inc. Report Covid treatment pill was granted emergency-use approval by the Food and Drug Administration.