Boeing — The aerospace company was down 5% after it reached a $200 million settlement on charges of misleading investors following two of its jetliners being involved in deadly crashes.
Costco — The wholesaler, which said it would not raise membership prices this week, saw shares drop 4.3%. Costco released earnings that beat expectations and showed year-over-year gains, but also said it was experiencing higher labor and freight costs.
CalAmp — The software company plummeted 16.8% despite an earlier rally. CalAmp reported smaller losses than anticipated in its second-quarter earnings, while also noting record-setting revenue within subscription and software categories.
Ally Financial — Shares of the financial services company dropped 2.7% after Wells Fargo downgraded the stock to equal weight from overweight. The Wall Street firm said it will be difficult for Ally to outperform as used vehicle price continues to decline and as the consumer works through the headwind of inflation.
Qualcomm — Shares declined 2% despite JPMorgan saying reiterating the stock as overweight due to the wireless company’s automotive opportunities.
Coinbase – Shares of Coinbase fell 1.7% after JPMorgan lowered its price target and reiterated the stock as neutral, citing concerns about weak activity levels in the crypto sell-off. Although the cryptocurrency exchange has been diversifying its services and revenue streams, that business still accounts for the majority of its revenue, and trading activity tends to stall when prices are low. Crypto assets sold off with the rest of risk assets Friday.
