Tesla Inc (NASDAQ:TSLA) (Reuters)
NEW YORK, March 28 (Reuters) – Tesla Inc shares fell more than 9 percent on Wednesday following a downgrade by Moody’s Investors Service, a probe by the National Transportation Safety Board of a recent fatal crash and concerns about Model 3 production. The sell-off came after Tesla tumbled 8.2 percent on Tuesday, the lowest close in almost a year. Tesla was trading on Wednesday at $258.44, down $20.74 a share, off a low of $252.10. Late on Tuesday, Moody’s Investors Service downgraded Tesla’s credit rating to B3 from B2. Moody’s said the ratings “reflect the significant shortfall in the production rate of the company’s Model 3 electric vehicle.”
Amazon.com, Inc. (NASDAQ:AMZN) (The Seattle Times)
Amazon’s stock slid sharply on Wednesday after a report that President Donald Trump has openly discussed going after the retailer using antitrust or competition law. News site Axios, citing five unnamed sources who had spoken with the president, reported that Trump has a “deep-seated antipathy” toward the Seattle company that surfaces in discussions of tax policy and antitrust issues. Amazon shares fell by as much as 7 percent early Wednesday after the report, before paring those losses. The stock recently traded down 5.2 percent at $1,418.76.
Edge Therapeutics Inc (NASDAQ:EDGE) (Benzinga)
Edge Therapeutics, Inc. dipped 90.3 percent to $1.515 after the company disclosed that its Phase 3 Newton 2 study is unlikely to achieve primary efficacy endpoint. The independent Data Monitoring Committee has recommended discontinuation of study.
Lululemon Athletica inc. (NASDAQ:LULU) (The Motley Fool)
What happened: Shares of apparel retailer lululemon athletica (NASDAQ:LULU) jumped on Wednesday after the company reported strong fourth-quarter results. Comparable sales surged, helped by a big increase in direct-to-consumer revenue. The company beat analyst estimates across the board, leading investors to push the stock up about 11% as of 12:45 p.m. EDT.
Restoration Hardware Holdings, Inc (NYSE:RH) (CNBC)
RH – The home furnishings company beat estimates by 14 cents a share, with adjusted quarterly profit of $1.69 per share. The Restoration Hardware parent did see revenue come in slightly below Street forecasts. RH did give strong guidance for the full year on both the top and bottom lines.