Stansberry Research

U.S. Midday Stock Moves: LITE, RH, DRI, RAD, AWL

Daniel SmootStansberry NewsWire

Advances:

  • Lumentum (LITE) +6.6%. Coherent terminated its merger agreement with LITE.
  • RH (RH) +3.7%. RH's fourth-quarter results beat estimates.
  • Darden Restaurants (DRI) +2.3%. DRI's third-quarter results topped the consensus.

Declines:

  • Rite Aid (RAD) -24.4%. RAD lowered its full-year 2021 earnings guidance.
  • American Well (AMWL) -9.3%. AMWL's full-year outlook disappointed.
  • Opendoor Technologies (OPEN) -8.2%. The Wall Street Journal's "Heard on the Street" positively mentioned OPEN competitor Offerpad.
  • Jefferies Financial (JEF) -6.1%. Analysts highlighted a slowdown in the company's share buyback program.
  • Nike (NKE) -5.6%. The company has become the next Chinese social media boycott target for its stance on Xinjiang cotton supply.
  • II-VI (IIVI) -4.2%. Coherent accepted IIVI's acquisition bid.
  • ViacomCBS (VIAC) -3.4%. VIAC shares were downgraded from "neutral" to "sell" at MoffettNathanson.