Here are some of the laggards in the stock market on Wednesday.
1. Twitter | Down 11%
Shares of Twitter (TWTR) - Get Free Report struggled Wednesday after Wall Street analysts lowered their price targets on the stock. The tech giant reported mixed third-quarter earnings and analysts at Jefferies, Wedbush, Keybanc and BMO Capital Markets expressed concerns about a slowdown in user growth going forward.
2. Robinhood | Down 10%
Shares of Robinhood (HOOD) - Get Free Report fell sharply after the trading app posted a wider-than-expected quarterly loss. The company saw fewer new accounts amid a slowdown in cryptocurrency-related activity. Revenue tied to cryptocurrency trading tumbled 78% to $51 million.
3. Visa | Down 6.9%
Visa (V) - Get Free Report stock was dropping Wednesday after the payments giant issued a conservative revenue outlook with its quarterly earnings report. Visa brought in $1.62 per share, beating expectations by 8 cents. It also exceeded revenue expectations, thanks to an increase in online and travel spending.
4. General Motors | Down 5.4%
Shares of General Motors (GM) - Get Free Report fell even though the Detroit company's earnings exceeded Wall Street expectations. The automaker said full-year profit would likely hit the high end of its forecast. The company has been navigating a global semiconductor shortage as it makes the transition toward electrified vehicles
5. Texas Instruments | Down 5%
Shares of Texas Instruments (TXN) - Get Free Report came under pressure a day after the chipmaker posted third-quarter financial results after the bell Tuesday. The results were largely in line with Street expectations. The company also noted that it will be increasing its capital spending to boost capacity.
On the topic of component shortages, Texas Instruments said that lead times for most products remain stable but that “hot spots continue to exist.” The company added that customers are being more selective in their “expedite requests.”