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Tesla, Moderna, IBM, Chegg, Bluebird Bio, Yeti, J.B. Hunt and More Market Movers Today

MarketWatch2023-01-19

Stocks turned lower Wednesday, following hawkish comments from Federal Reserve officials and as investors digested the latest economic data.

The producer-price index declined more than economists expected in December. And Retail sales fell 1.1% month over month in December.

The stock market dropped, with the Dow Jones Industrial Average down 1.8%, the S&P 500 down 1.6%, and the Nasdaq Composite down 1.2%.

Here are stocks that were making moves Wednesday:

Chegg(ticker: CHGG) fell 17% after the online-education company was downgraded to Hold from Buy by analysts at Needham.

Bluebird Bio(BLUE) slipped 17% after the biotech announced a proposed public offering of 20 million shares.

Yeti(YETI) fell 7.5% after the maker of high-end coolers was downgraded to Market Perform from Outperform by analysts at Cowen.

J.B. Hunt Transport Services(JBHT) rose 5%. Shares of the trucking and logistics giant had fallen after it posted a fourth-quarter earnings miss, but rebounded.

“Collectively, adjusted results were better than feared and Intermodal profitability was intact in spite of lower loads,” Citigroup analyst Christian Wetherbee wrote in a report Wednesday. “Ultimately, better than feared results should be positive.”

Moderna(MRNA) gained 3.3% after the biotech company announced strong results from a large trial of its respiratory syncytial virus vaccine late on Tuesday. RSV is a common virus and, to date, no vaccine is approved to prevent it.

International Business Machines(IBM) slid 3.3% after the information technology company was downgraded to Equal Weight from Overweight by analysts at Morgan Stanley. Analyst Erik Woodring also lowered his target price to $148 from $152.

GoDaddy(GDDY) rose 3.1% on an upgrade to Outperform from In Line by analysts at Evercore ISI.

Charles Schwab(SCHW) slid 2.6% after the brokerage reported lower earnings than expected for its fourth quarter.

Tesla(TSLA) shares declined 2.1% after rallying Tuesday. The stock fell more than 6% on Friday after news of U.S. price cuts and has since more than rebounded.

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  • JQC
    ·2023-01-19
    [OK] 
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  • LimBT
    ·2023-01-19
    Ok
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  • CTSM
    ·2023-01-19
    Thanks
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