Shares of beauty products company Coty (NYSE:COTY)
fell 9.3% in the afternoon session after Bank of America analysts issued a rare double downgrade on the company, shifting their rating from Buy to Sell, signaling a significant deterioration in their outlook. Alongside the downgrade, the firm slashed its price target from $9 to $4.50. The analysts pointed to declining market share, an indication the company was losing ground to competitors, and persistent softness in consumer spending, which could pressure both top-line growth and profitability.
Shares of digital infrastructure provider Applied Digital (NASDAQ:APLD) fell 30.8% in the afternoon session after the company reported weak first-quarter 2025 (fiscal Q3) results, which significantly missed Wall Street's sales expectations.
Shares of aerospace and defense company Rocket Lab (NASDAQ:RKLB)
jumped 13.1% in the morning session after the company announced it was selected to provide hypersonic test launch capabilities through its HASTE launch vehicle, along with other related services, under two multi-billion-dollar government development programs for the United States and the United Kingdom.
Shares of civil infrastructure construction company Sterling Infrastructure (NASDAQ:STRL) jumped 6.7% in the morning session after the S&P Dow Jones Indices announced that the company would replace Patterson (which was being acquired) in the S&P SmallCap 600 index before the opening of trading on Thursday, April 17, 2025.
Shares of chip designer Allegro MicroSystems (NASDAQ:ALGM) fell 13.4% in the pre-market session after ON Semiconductor withdrew its proposal to acquire the company. ON Semiconductor added that there was "no actionable path forward."
Shares of enterprise technology company Hewlett Packard Enterprise (NYSE:HPE) jumped 7.3% in the morning session after activist investor Elliott management announced a stake estimated at $1.5 billion in the company. This move was noteworthy given that activist investors often bring about significant changes in targeted companies, focusing on improving asset monetization, expense efficiency, and stock buybacks.
Shares of streaming video giant Netflix (NASDAQ: NFLX)
jumped 5.9% in the afternoon session after the Wall Street Journal reported that the company (NFLX) set a lofty goal to reach a $1 trillion market valuation by 2030. In its annual review, Netflix laid out plans to more than double revenue from $39 billion to $80 billion, signaling aggressive growth expectations likely tied to subscriber expansion, content monetization, and international market expansion.
Applied Digital Corp (NASDAQ:APLD) shares are tumbling on Tuesday after the company reported weak revenue for the third quarter. Multiple analysts cut price targets in the wake of earnings.
Hewlett Packard Enterprise Co (NYSE:HPE) shares spiked at the open on Tuesday following reports that Elliott Investment Management has built a stake in the company.
UBS noted that its proprietary viewership tracker shows a rebound in consumption following a slowdown linked to Netflix’s paid-sharing crackdown and delayed content releases.
