Biggest stock movers today: Foot Locker, Peloton Interactive, AMC Entertainment and more
Michael M. Santiago
Stock futures inched higher on Wednesday while Treasury yields dipped ahead of much-awaited earnings results from chip giant NVIDIA.
Here are some of Wednesday's biggest stock movers:
Biggest stock gainers

Manchester United (NYSE:MANU) shares rose nearly 9% on reports that a Â£6B sale to Qatar's Sheikh Jassim could be announced as early as next month. The acquisition is expected to be completed by mid-October.

Shares of the newly debuted VinFast Auto (NASDAQ:VFS) surged 10% on Wednesday after more than doubling on Tuesday. The volatility of the new stock pushed the market cap past $90B, much above that of Ford (F) and General Motors (GM).
Apellis Pharmaceuticals (NASDAQ:APLS) soared 30% after the company stated that there is no proof of a link between the 19-gauge needle and rare incidences of retinal vasculitis, a kind of eye inflammation. The firm also revealed that itâs recommending practitioners only use injection kits with the 18-gauge filter needle, which are currently in circulation.

Biggest stock losers

On the back of weak Q2 earnings and a reduction in the FY2023 outlook, Foot Locker (NYSE:FL) fell more than 30%. The company now expects sales to drop 8% to 9% from a previous outlook of 6.5% to 8% and EPS of between $1.30 and $1.50 from a prior $2.00 to $2.25 and consensus of $2.03. In order to provide the company with the flexibility to continue funding strategic investments in an appropriate way, the board decided to suspend the quarterly cash dividend after the recently approved payout in October.
Shares of Peloton Interactive (NASDAQ:PTON) declined more than 26% after the company reported a larger loss than anticipated and a Y/Y revenue reduction. The connected fitness company expects Q1 revenue between $580M and $600M, below the consensus of $654.19M.
Analog Devices (NASDAQ:ADI) shares plummeted 7% after the company underperformed expectations in Q3 and issued a weaker-than-expected outlook for Q4. The company expects Q4 sales to be $2.7B, plus or minus $100M, vs. consensus of $3.02B, with an operating margin of 26.8%, plus or minus 130 basis points, and adjusted EPS of $2, plus or minus 10 cents, vs. consensus of $2.40.
AMC Entertainment Holdings' (NYSE:AMC) stock fell more than 20% on the threshold of a significant share conversion announced by the theater chain to generate more capital. Meanwhile, the company's preferred equity units (NYSE:APE) were down 6%, adding to the 11% drop on Tuesday.


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VinFast: Sell The Hype
VinFast: Sell The Valuation Bubble
VinFast surges 130% as volatility continues
Compare metrics for AMC to APLS, MANU, VFS