These Stocks Are Moving the Most Today: C3.ai, ChargePoint, Apple, GameStop, UiPath, BlackBerry, Yext, WestRock, and More

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C3.ai withdraws its forecast that it would reach profitability on an adjusted basis by the end of fiscal 2024, ChargePoint stock tumbles after losses widen,...

Stocks traded mostly lower Thursday as investors worried over the prospect of the Federal Reserve keeping interest rates higher for longer.Shares of C3.ai fell 17% after the artificial intelligence software provider forecast a wider-than-expected fiscal-year loss and withdrew its previous forecast that it would reach profitability on an adjusted basis by the end of fiscal 2024.

Apple declined 3.3% after shares of the iPhone maker slumped 3.6% on Wednesday after China banned the use of iPhones for central government officials at work. Adjusted second-quarter earnings from business- automation software company UiPath beat Wall Street expectations and the stock rose 7.1%. UiPath said its expects fiscal third-quarter revenue of between $313 million and $318 million, and fiscal-year revenue of between $1.27 billion and $1.28 billion. Analysts had been estimating fiscal-year revenue of $1.27 billion. UiPath’s board also authorized the buyback of $500 million of stock.

Marketing-software company Yext was slumping 20% after reporting second-quarter adjusted earnings in line with analysts’ estimates. Yext said it expects third-quarter earnings of 6 cents to 7 cents a share on revenue of $101.5 million to $102.5 million. Fiscal-year earnings were forecast at 29 cents to 30 cents a share on revenue of between $405 million to $407 million. The outlooks for both periods were roughly in line with Wall Street expectations.

 

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