SDIG - Hot Stocks: CHWY SDIG drop on earnings news; regional banks fall; CALM sets high; ADGI clinical data
The major U.S. equity averages finished Wednesday's session lower, halting a rally that has marked most of the past two weeks. The Nasdaq led the retreat with a decline of 1.2%. Regional banks were among the losers on the day. A flattening yield curve has raised concerns about bank profits. Silvergate Capital (SI), SVB Financial (SIVB), Zions Bancorporation (ZION), Comerica (CMA) and Regions Financial (RF) all showed weakness. Chewy (NYSE:CHWY) marked another standout decliner. Shares posted a double-digit percentage decline following the release of the firm's quarterly results. Earnings news also dragged on Stronghold Digital (SDIG). The stock lost almost a third of its value amid disappointing financial figures. Looking at some of the day's standout gainers, Adagio Therapeutics (ADGI) surged on news of strong data for its COVID drug. Meanwhile, the release of quarterly results allowed Cal-Maine Foods (CALM) to extend recent gains to set a 52-week high. Sector
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Hot Stocks: CHWY, SDIG drop on earnings news; regional banks fall; CALM sets high; ADGI clinical data