U.S. stocks ended mixed Wednesday as solid corporate earnings clash with persistent inflation concerns and a jump in Treasury bond yields.
Here are some of the laggards in the stock market on Wednesday.
1. PayPal | Decrease 4.9%
Shares of PayPal (PYPL) - Get PayPal Holdings Inc Report fell in Wednesday trading after Bloomberg reported that the online payments giant is in talks to buy social-media platform Pinterest (PINS) - Get Pinterest, Inc. Class A Report in a deal that could be worth $39 billion, or $70 a share.
2. Novavax | Decrease 15%
3. WD-40 Co. | Decrease 8.7%
The company reported fourth-quarter net income of $8.4 million, or 61 cents a share, compared with $19.7 million, or $1.42 a share, in the year-ago period.
Revenue rose to $115.2 million from $111.6 million in the year-ago quarter. Analysts surveyed by FactSet had forecast $1.24 a share on revenue of $117.5 million.
4. UniFirst | Decrease 5.6%
Shares of UniFirst (UNF) - Get UniFirst Corporation Report came under pressure after the workwear company said it expects lower profit and higher revenue for fiscal 2022 as it sees continuing pressure from costs and effects of the current inflationary environment.
5. Netflix | Decrease 2.2%
Shares of Netflix (NFLX) - Get Netflix, Inc. (NFLX) Report dropped even after a string of analysts lauded the streaming giant's better-than-expected third-quarter earnings and lifted their price targets on the stock.