Stocks move big afternoon: FSLR, NWSA, SCHW, TWLO

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Global Courant 2023-05-13 02:03:26

Connie Black makes adjustments to the production line for the Series 6 solar panels, seen during a tour of a First Solar plant in Walbridge, Ohio, October 6, 2021.

Dane Rhys | Reuters

Take a look at the companies that take the biggest steps in the afternoon:

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Twilio — Twilio shares fell 3.48%. The move added to the decline that began after the communications software developer forecast second-quarter earnings late Tuesday that topped analysts’ estimates. On Friday, Mizuho downgraded the stock to neutral from buy, seeing too many near-term challenges for Twilio.

Robin Hood — The stock lost 9.43%. It’s a reversal from Thursday’s 6.4% gain, which came a day after Robinhood posted a first-quarter profit and revenue hit. On Friday, Morgan Stanley said Robinhood’s new 24-hour trading, announced Wednesday, will not materially improve the company’s financial position.

Fox — Stocks bounced back from an earlier dip to end the day fractionally higher. The move followed a downgrade of the media company by Wells Fargo from overweight to equal weight. The Wall Street firm cited demand challenges for linear TV and sports rights costs. Fox on Tuesday reported a net loss for its fiscal third quarter due to costs related to Fox News’ settlement with Dominion Voting Systems.

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