In this article, we take a look at five stocks that are moving on Wednesday. If you want to read our detailed analysis of these stocks, go directly to Why These 10 Stocks Are Moving on Wednesday.
5. Twitter, Inc. (NYSE:TWTR) has dipped more than 3.5% during trading today after Mark Zgutowicz at Benchmark initiated coverage of the company with a Hold rating without a target price. The analyst sees Twitter, Inc. (NYSE:TWTR) providing a limited user base with a high utility product that has a limited ability to scale. Zgutowics is skeptical about the company’s 50% direct response target and doubts that Twitter, Inc. (NYSE:TWTR) will be able to achieve its 2023 revenue target of $7.5 billion with a daily active user base of 315 million.
4. Moderna, Inc. (NASDAQ:MRNA) is down 5% after Genevant Sciences and Arbutus Biopharma filed a case in the US District Court for the District of Delaware seeking damages for infringement of various US Patents that are related to the manufacturing processes and the sale of mRNA-1273, Moderna, Inc.’s (NASDAQ:MRNA) COVID-19 vaccine. The biotech companies are not looking for an injunction on the production and distribution of the vaccine. Instead, they are looking for compensation in the form of damages by the biotech giant. As of Q4 2021, 43 hedge funds had a long position in Moderna, Inc. (NASDAQ:MRNA), down from 49 hedge funds in the previous quarter.
3. Ford Motor Company (NYSE:F) soared more than 7% after the automobile giant revealed that it will raise its spending on electric vehicles (EV) to $50 billion by 2026 as opposed to the prior guidance of $30 billion. Ford Motor Company (NYSE:F) intends to produce two million EVs by 2026. This will be nearly one-third of its annual production. Ford Motor Company (NYSE:F) intends to increase the total proportion of electric vehicles to 50% of its annual production targets. This is a move to counteract the impact of Elon Musk-led Tesla, Inc. (NASDAQ:TSLA).
2. Netflix, Inc. (NASDAQ:NFLX) is down 2.1% today. The company has been facing the brunt of increased competition from the likes of Disney+ and HBO Max. During Q4 2021, Netflix, Inc. (NASDAQ:NFLX) recorded 8.28 million new subscribers, lower than the predicted increase of 8.5 million. Last year, Netflix, Inc. (NASDAQ:NFLX) had a 9% overall increase in its total subscribers, in comparison to the 22% growth in Q4 2020. Fisher Asset Management was long over 5 million shares of Netflix, Inc. (NASDAQ:NFLX) at the end of Q4 2021.
1. Dollar Tree, Inc. (NASDAQ:DLTR) fell around 1.7% today after the company missed the revenue estimates for Q4 2021 and provided a weaker than expected full-year revenue guidance. Dollar Tree, Inc. (NASDAQ:DLTR) reported revenue of $7.08 billion, increasing by 4.6% YoY but missing the consensus estimate of $7.12 billion. Meanwhile, GAAP EPS for the quarter was posted at $2.05 compared to the analysts’ forecast of $1.75. Dollar Tree, Inc. (NASDAQ:DLTR) guided that it anticipates annual net sales of $6.63 billion to $6.78 billion, which is below the analysts’ forecast of $6.79 billion.
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