Benzinga’s “10 Stocks With $10 Billion Market Cap Down 10%” aims to deliver investors the news surrounding hot stocks with significant price action for the week ending May 6, 2022.
The information provided for these hot stocks is compiled using the Movers and News tools in Benzinga Pro.
Expedia Group Inc (NASDAQ:EXPE): Expedia's shares fell nearly 23% during this week's trading period after the company reported unconvincing first-quarter earnings. Despite Expedia exceeding analyst estimates on both the top and bottom lines, Hilton Worldwide issued guidance that fell short of expectations, which significantly impacted Expedia's stock.
Rockwell Automation (NYSE:ROK): Rockwell stock fell 14% after the market closed on Monday; shares are still trading near the lows after the company released its second-quarter earnings results, with adjusted EPS guidance falling short of analyst expectations.
Cloudflare Inc (NYSE:NET) shares dropped 20% in Thursday’s after-hours trading session after the cybersecurity company's quarterly results beat analyst expectations. Still, investors reacted negatively to its bottom-line forecast for the current quarter, suggesting a potential miss in its following report.
Nio Inc - ADR (NYSE:NIO) shares fell 11.77% this week, along with several Chinese companies, amid renewed delisting fears after the U.S. Securities and Exchange Commission expanded its regulatory crackdown on U.S.-listed Chinese companies for failing to disclose audit reports. Nio stated it is actively investigating potential solutions to protect its shareholders.
Uber Technologies Inc (NYSE:UBER): Uber's stock has dropped more than 14% this week after the company said that first-quarter revenue increased by 136% year-over-year to $6.85 billion, beating the $6.13 billion forecast. However, Uber reported a $5.9 billion quarterly net loss, including a $5.6 billion blow attributable to its stock investments.
Crowdstrike Holdings Inc (NASDAQ:CRWD): The stock fell 13.26% this week as investors assess Wednesday's Fed rate hike announcement, trading in lockstep with numerous other companies in the larger tech sector amid overall weakness. CrowdStrike's valuation measures, such as its Forward P/E ratio of 177.46, should be noted by traders. The average Forward P/E for its industry is 52.86, implying that CrowdStrike is selling at a premium over the sector.
Bill.com Holdings Inc (NYSE:BILL): The stock is down more than 20% this week due to the company’s third-quarter earnings report, despite beating Wall Street estimates.
Gartner Inc (NYSE:IT) shares fell more than 11% this week but could rebound with other tech stocks as the tech sector was primarily affected by the Fed’s rate hike announcement on Wednesday.
Johnson Controls International PLC (NYSE:JCI): The industrial conglomerate's stock plunged 11.61 % this week after cutting its profit guidance due to supply-chain issues. Furthermore, the company lowered its EPS guidance for 2022 to a range of $2.95 to $3.05. This is down from a previous range of $3.22 to $3.32.
Akamai Technologies, Inc. (NASDAQ:AKAM) The business lowered its 2022 outlook while announcing first-quarter earnings that fell short of analyst expectations, causing Akamai's stock to tumble 14% this week.
Photo by Wance Paleri on Unsplash
