U.S. stocks traded mixed, with the Dow Jones index falling around 80 points on Monday.
Shares of The Boeing Company BA experienced a decline during Friday’s session, following an alarming incident where an exit door blew out of a 737 aircraft during a commercial flight. This unsettling episode led to the grounding of 171 Boeing jets by the Federal Aviation Administration over the weekend. The turbulent times continued as travelers aboard an Alaska Air Group flight were forced to make an emergency landing after a panel flew off a new 737 MAX 9 shortly after takeoff, as reported by Reuters.
Consequently, Boeing shares plummeted by 6.6% to $232.50 on Monday, reflecting the unsettling sentiment troubling the aviation giant.
Dismal news also enveloped other big stocks in today’s session, as they recorded notable losses.
- Dada Nexus Limited DADA witnessed a significant dip of 38.1% to $1.95. This downturn was spurred by the revelation of questionable practices identified during a routine internal audit, casting doubt on certain revenues from the company’s online advertising and marketing services in 2023.
- Solo Brands, Inc. DTC fell by 34.7% to $3.8489 after the company lowered full year 2023 revenue guidance below estimates, signaling a disappointing financial outlook.
- Prothena Corporation plc PRTA experienced a notable decline of 25.1% to $30.45 after the company issued updates on PRX012, PRX123, Birtamimab and Portfolio programs, casting a shadow on its future prospects.
- MMTec, Inc. MTC declined by 22.4% to $1.82, reflecting a sharp downturn in its market performance.
- Jin Medical International Ltd. ZJYL also experienced a decline of 23.4% to $95.00, indicating a turbulent day for the company on the stock market.
- Pacific Biosciences of California, Inc. PACB stumbled by 15.1% to $7.99, following the company’s announcement of preliminary FY23 revenue of $200.5 million, which failed to meet market expectations, resulting in investor disillusionment.
- REGENXBIO Inc. RGNX experienced a noticeable decline of 14.8% to $14.01 as the US District Court issued a decision on REGENXBIO and University of Pennsylvania NAV technology patent infringement lawsuit, adding legal woes to its stock performance.
- Revance Therapeutics, Inc. RVNC also fell by 13.6% to $7.21, following its issuance of a corporate update, preliminary Q4 and FY23 financial results, and financial outlook, which failed to buoy investor confidence.
- ZIM Integrated Shipping Services Ltd. ZIM declined by 11.7% to $12.86, indicating a rough day for the shipping services company on the stock market.
- Fisker Inc. FSR dropped by 10.5% to $1.19, adding to the woes of the electric vehicle manufacturer on a bearish day for the stock market.
- Paragon 28, Inc. FNA fell by 9.6% to $11.83, as the company announced preliminary fourth-quarter revenue of $60.3 million to $60.6 million, failing to meet market expectations and leading to a decline in its stock performance.
- AAR Corp. AIR experienced a decline of 6.8% to $55.92, as its stock stumbled on the stock market.
- Spirit AeroSystems Holdings, Inc. SPR declined by 6.5% to $29.67, after an exit door blew out of a 737 aircraft during a commercial flight. Spirit Aerosystems was a vendor involved with the faulty door, further adding to the aviation industry’s woes on the stock market.
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