Ermenegildo Zegna Reports FY23 Results, Joins Altice USA, Herbalife And Other Big Stocks Moving Lower On Friday

Author: Avi Kapoor | April 05, 2024 09:27am

U.S. stocks were higher, with the Nasdaq Composite gaining over 100 points on Friday.

Shares of Ermenegildo Zegna N.V. (NYSE:ZGN) fell sharply during Friday’s session as the company reported FY23 financial results.

Ermenegildo Zegna reported a profit of €135.7 million for FY 2023, up 107.8% year-over-year, and a profit margin of 7.1% up from 4.4% in FY 2022.

Ermenegildo Zegna shares tumbled 14% to $11.99 on Friday.

Here are some other big stocks recording losses in today’s session.

• DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) fell 12.5% to $8.91.
• Altice USA, Inc. (NYSE:ATUS) shares tumbled 9.9% to $2.3169 after Wells Fargo downgraded the stock from Equal-Weight to Underweight and lowered its price target from $2 to $1.
• MYT Netherlands Parent B.V. (NASDAQ:MYTE) shares declined 7.7% to $3.3850.
• Aerovate Therapeutics, Inc. (NASDAQ:AVTE) shares dipped 7.7% to $26.85.
• Olaplex Holdings, Inc. (NASDAQ:OLPX) fell 7.1% to $1.63. Telsey Advisory Group analyst Dana Telsey reiterated Olaplex with a Market Perform and maintained a $2 price target.
• Critical Metals Corp. (NASDAQ:CRML) fell 7% to $11.93.
• Aurora Cannabis Inc. (NASDAQ:ACB) shares fell 6.4% to $6.61.
• Qurate Retail, Inc. (NASDAQ:QRTEA) declined 5.8% to $1.0450.
• Trump Media & Technology Group Corp. (NASDAQ:DJT) declined 5.5% to $43.62.
• Herbalife Ltd. (NYSE:HLF) shares fell 5.5% to $7.22. Herbalife is expected to release its first quarter 2024 financial results after the closing bell on May 1, 2024.

 

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