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Investment Network | April 4, 2023 at 02:06 PM EST
by Liz Moyer
Investing.com – Stocks were lower on Tuesday after a weaker-than-expected report on job vacancies and factory orders in February. The following is the noon trend on April 4th.
- AMC Entertainment Holdings (NYSE:AMC ) shares fell 23% after the movie theater operator reached a settlement that allows it to convert preferred stock into common stock.
- Virgin Orbit Holdings (NASDAQ: VORB ) fell 25.3% after the commercial satellite launch company sought bankruptcy protection. It has been unable to secure sufficient funding in recent weeks and has said it will lay off most of its staff.
General Motors Corporation (NYSE: GM ) shares fell 1.9% after the automaker’s chief financial officer said 5,000 salaried employees accepted a takeover offer that would result in a $1 billion charge and cost GM Cost savings of $2 billion are expected.
- Acuity Brands (NYSE:AYI ) shares fell 11.4% after the lighting maker reported better-than-expected adjusted earnings per share but lower-than-expected revenue.
Etsy Company (NASDAQ: ETSY ) shares rose 2.4% after the online arts and crafts marketplace upgraded from Piper Sandler, citing its popularity among younger Gen Z shoppers. That popularity could help drive user growth, analysts said.
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Written by: Investment Network
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