Why Did Stocks Drop Today? Let’s Find Out With Today’s Stock Movers from FedEx To Klaviyo.

Sep 22, 2023

Why Did Stocks Drop Today? Today’s Stock Movers from FedEx..

Let’s find out together: “Why did stocks drop today?” Stocks dipped on Thursday as the Federal Reserve kept interest rates unchanged but said another quarter-point rate hike may occur this year. The central bank also forecasted rate decreases in 2024, albeit not as many as previously. In an unexpected action, the Bank of England kept interest rates steady.

These stocks were moving:

Splunk (SPLK) shares jumped 21% to $144.43 after networking equipment maker Cisco Systems (CSCO) announced a $157-per-share cash acquisition of the cybersecurity and data analytics software business. The transaction is worth around $28 billion. Cisco’s shares dropped 3.9%.

Charles River Laboratories (CRL) slumped 5% after lowering its three-year sales and profitability forecasts but maintaining fiscal-year projections.

FedEx (FDX) shares increased 4.5% after the transportation giant posted fiscal first-quarter results that exceeded analysts’ expectations. As management decreased costs, operating margins improved. FedEx also increased its fiscal-year projection, saying it anticipates an adjusted profit of $17 to $18.50 per share, up from $16.50 to $18.50. UPS (United Parcel Service) was down 1.4%.

Travere Therapeutics (TVTX) shares fell 41% after the biopharmaceutical firm reported mixed findings in a study for its kidney-disease medication. William Blair downgraded the stock from Outperform to Market Perform.

Following the revelation that Rupert Murdoch will step down as chairman of both firms, News Corp (NWSA) and Fox (FOX) gained 1.3% and 3%, respectively. Lachlan Murdoch, his son, will take control.

D.R. Horton (DHI) and KB house (KBH) declined 3.7% and 4.3%, respectively, as statistics indicated house prices increased while sales decreased in August.

Separately, D.R. Horton has appointed Paul J. Romanowski as president and CEO, beginning Oct. 1. He will take over for David V. Auld, who will be promoted to executive vice chairman of the board. Meanwhile, KB Home reported higher-than-expected fiscal third-quarter results and increased its fiscal-year revenue projection.

Broadcom (AVGO) fell 2.7% after a report indicated the company’s long-term arrangement to sell artificial intelligence chips to Alphabet’s Google (GOOGL) was in peril. Google stated there has been “no change in our engagement” with the firm.

CrowdStrike Holdings (CRWD) slumped 0.8% after the cybersecurity firm revealed during a Fal.Con briefing that it was expanding its new goal model of subscription gross margin to 82%-85% of sales, an increase of 400 basis points. It increased its operating margin objective from 28% to 32%, a 900 basis point increase. The corporation stated that attaining those aims would take three to five years.Klaviyo (KVYO) finished at $33.72, up 2.9%. The Boston-based marketing software firm began trading Wednesday at $36.75, up 23% from its initial offering price of $30. So you now have an answer to the question, “Why did stocks drop today?”

Subscribe Our Newsletter

Coinbase and Google are Joining Forces to Embrace Crypto

Alexander

Coinbase and Google are Joining Forces to Embrace Crypto

Crypto industry has just received one of its biggest boosts in a long time.

Crypto
Elon Musk's Twitter Deal Is a Big Win for Dogecoin. How It Will Potentially Affect Crypto

Milena

Elon Musk’s Twitter Deal Is a Big Win for Dogecoin. How It Will Potentially Affect Crypto

Twitter might use Dogecoin as a payment mechanism and to stop spam bots on the social media network. Bitcoin may have an opportunity to benefit too.

Crypto
Get the ultimate solution: B2BinPay Get the ultimate solution: B2BinPay
Sponsored
Alexander

5 Best AI ETFs for 2023-2024
In today's fast-paced world of technology, there is one phenomenon that is capturing global attention – Artificial Intelligence (AI). With its ever-growing capabilities and potential, AI is quickly becoming a driving force in various industries, from healthcare to finance, transportation, and more.

discover
Crypto Market Outlook 2024: Bullish or Bearish?

Constantine

Crypto Market Outlook 2024: Trends that Shape the Market Dynamics

Find out what the state of the crypto market is today, what dynamics exist, and which trends you should follow to make the right decisions.

DeFi
Contact us bg

Contact Us

Contact the Liquidity Provider
for any questions and advertising inquiries

    Please fill out this contact form to get in touch with us

    / 3000

    By clicking “Get in touch” button, you agree to the privacy policy

    Successful!
    Thank you for your request.
    We will contact you shortly.
    Close

    Alexander

    What Is an Interest Coverage Ratio? How to Use This Financial Metric to Evaluate Company Health

    Interest Coverage Ratio Explained

    Hazem

    After-Hours Trading: Can You Trade After Financial Markets Close?

    After-Hours Trading Explained

    Alexander

    How to Scale a Crypto Exchange Business and Stay Competitive

    how to scale crypto exchange business

    Constantine

    Crypto CrypticStreet Review: The Future of DeFi and Secure Crypto Trading

    Crypto CrypticStreet Review: The Future of DeFi and Secure Crypto Trading

    Alexander

    Bitcoin Power Law Explained: How It Shapes BTC’s Long-Term Growth

    Bitcoin Power Law Explained: How It Shapes BTC’s Long-Term Growth

    Hazem

    Megaphone Pattern​: What Is It? How to Use It In Trading

    Megaphone Pattern​: How to Read & Trade with It

    Constantine

    Top 5 Liquidity Bridge Providers in DeFi

    Top 5 Liquidity Bridge Providers in DeFi

    Hazem

    Max Funded IUL Explained: Is It a Legitimate Financial Strategy?

    Understanding Max Funded IUL

    Alexander

    Tax Refund Timeline: When Will You Get Your Tax Return?

    how long does it take for tax refund

    Constantine

    Crypto Liquidity — What is it, and How to Measure It?

    What is Crypto Liquidity and How to Measure It?

    Constantine

    AI in Finance: A Game-Changing Trend Shaping the Industry

    AI in Finance

    Hazem

    5 Ways to Make Money with ChatGPT and Build Your Wealth

    Make Money with ChatGPT

    Constantine

    Top AI Companies to Invest in April 2025

    Top AI Companies to Invest in March 2025

    DeepSeek vs ChatGPT: Which AI Technology is Better For You?

    DeepSeek vs ChatGPT: Feature-by-Feature AI Tool Comparison

    Constantine

    Top Solana Meme Coins in 2025: Best Presales and Where to Buy

    Solana Meme Coins 2025

    Alexander

    How Renewable Energy Stocks Can Supercharge Your Portfolio

    How Renewable Energy Stocks Supercharge Your Portfolio

    SEC Crypto Regulations: What Financial Advisors Need to Know

    SEC Crypto Regulations: Insights for Financial Advisors

    Hazem

    The Cup and Handle Pattern – How Trade Using This Bullish Indicator?

    Cup and Handle Pattern – How to Predict Price Breakouts?

    Hazem

    Year-Over-Year (YoY): What It Means? How It’s Used in Finance?

    Year-Over-Year (YoY): How to Calculate Business Performance?

    Constantine

    What is WAGMI and NGMI? Understanding Crypto Slangs

    WAGMI vs. NGMI

    Alexander

    Litecoin Mining Guide: How to Get Started in 2025?

    Litecoin Mining Guide: How to Get Started in 2025?

    Constantine

    What is Thruster (THRUST): An Advanced AMM for the Blast Ecosystem

    Thruster (THRUST): How Does it Revolutionise DeFi?

    Constantine

    How Does Polymarket Work? Detailed Guide

    How Does Polymarket Work? Comprehensive Guide

    Constantine

    Coinbase vs. Сoinbase Pro: Which Platform is Right for You?

    Coinbase vs. Coinbase Pro
    liquidity-provider-logo
    • News
      • Stock Market Forecast
      • Stocks
      • Banks and Finance
      • Companies
      • Crypto
      • Forex
      • AI
      • Technology
      • DeFi
      • NFT
    • Articles
      • Crypto Payments
      • Trading
      • Crypto Exchange Business
      • Forex Business
      • Fintech
      • Liquidity
      • FinTech Awards
      • Blockchain
      • Investing
      • NFT
      • DeFi
    • More
      • Videos
      • Liquidity Providers List
      • Crypto Payment Providers
      • White Label Brokerage Platforms
      • Broker CRM Platforms
    [email protected]

    © 2024 Liquidity Provider. All Rights Reserved

    Privacy Policy Cookie Policy
    This site is registered on wpml.org as a development site. Switch to a production site key to remove this banner.