HomeMarket NewsBiggest Stock Movers Today: Paycom Software, CRISPR Therapeutics and More

Biggest Stock Movers Today: Paycom Software, CRISPR Therapeutics and More

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Stock futures are slightly lower in the early hours of Wednesday as investors eagerly await the Federal Reserve’s interest rate decision. Market participants are keeping a close eye on the Fed’s decision and any accompanying statements for signals about future monetary policy.

Let’s take a look at some of today’s most significant stock movers:

Biggest Stock Gainers

Xpeng (NYSE: XPEV) – Rising Over 4%

Shares of Xpeng, a rapidly growing smart electric vehicle (EV) manufacturer, experienced a notable gain today. Xpeng achieved a significant milestone with 20,002 units delivered in October, representing a 31% month-over-month increase and an impressive 292% year-over-year surge in smart EV monthly deliveries. This record-breaking performance highlights Xpeng’s continued success and the growing demand for electric vehicles.

CRISPR Therapeutics (NASDAQ: CRSP) – Surging 19%

CRISPR Therapeutics saw a substantial surge in its stock price following positive feedback from a panel of independent experts advising the US Food and Drug Administration (FDA) on a groundbreaking gene editing therapy. The therapy, called exagamglogene autotemcel or exa-cel, is a collaboration between CRISPR Therapeutics (CRSP) and Vertex Pharmaceuticals (NASDAQ: VRTX). It utilizes CRISPR/Cas9 gene editing technology and is currently undergoing FDA review for treating sickle cell disease (SCD) in patients aged 12 years and older experiencing vaso-occlusive crises. This therapy represents a significant advancement in the treatment of SCD and has the potential to greatly improve the lives of those affected by this blood disorder.

Biggest Stock Losers

Paycom Software (NYSE: PAYC) – Plummeting Over 35%

Shares of Paycom Software experienced a significant drop today due to mixed third-quarter results and a disappointing fourth-quarter outlook. The company’s projected sales of $420M-$425M and adjusted EBITDA of $169M-$174M for the fourth quarter fell short of the $452.3M consensus and the $189M Visible Alpha consensus. Investors reacted negatively to the news, resulting in a sharp decline in the stock price.

Yum China (NYSE: YUMC) – Slipping Over 12%

Yum China, one of the largest restaurant companies in China, reported lower-than-expected third-quarter results, leading to a decline in its stock price. The company’s CFO, Andy Yeung, highlighted that the fourth quarter typically has lower sales and profits compared to other quarters. Additionally, Yum China faced challenges in the fourth quarter of the previous year, including temporary relief of $26 million, which will not be repeated this year. These factors contributed to the downward pressure on the stock.

As the market continues to evolve, it’s essential to stay updated on the latest stock movements and factors driving them. Keeping a close eye on these trends can inform investment decisions and guide traders and investors in navigating the dynamic financial landscape.

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