Biggest stock movers today: Unity Software, Walgreens Boots Alliance, Lordstown Motors and more
TERADAT SANTIVIVUT
Stock futures were up on Tuesday, following a week of losses due to ongoing concerns about an economic slowdown.
Here are some of Tuesday's biggest gainers and losers:
Biggest stock gainers

The shares of Unity Software (NYSE:U) increased by more than 9% after Wells Fargo initiated covering with an outperform recommendation. Analyst Brian Fitzgerald, who set a per-share price target of $48 on Unity Software (U) shares, noted that concerns about the metaverse and the cost of the ironSource acquisition have overshadowed a "meaningful mobile cross-sell opportunity," cost synergies, and an increasing total addressable market, creating a "attractive buying opportunity." The company also unveiled a dedicated place in the Unity Asset Store for AI-driven game development.

The stock of insurer American Equity Investment Life Holding Co. (NYSE:AEL) rose over 9% following Brookfield Reinsurance's (BNRE) proposal to buy the company for $55 per share. The proposal represents a premium of 35% to the closing price as of June 23, 2023. The report comes after Prosperity Group Holdings, backed by hedge fund Elliott Investment Management, dropped its offer to acquire AEL for $45.00 per share in February after AEL rejected the deal in December.
Lucid Motors (NASDAQ:LCID) extends gains up to 7% after a proposed supply agreement with Aston Martin (OTCPK:AMGDF). Lucid Group (LCID) said the partnership will provide a new revenue stream for the company and is also a strong validation of its electric powertrain system.

Biggest stock losers

Walgreens Boots Alliance (NASDAQ:WBA) stock fell over 7% after the drug store chain and health care services company posted mixed third-quarter earnings and lowered its full-year EPS forecast due to macroeconomic headwinds. For fiscal year 2023, the company reduced its adjusted EPS projection to $4 - $4.05 from $4.45 - $4.65 (consensus: $4.45).
Lordstown Motors (NASDAQ:RIDE) lost more than 50% of its share value after the company filed for Chapter 11 bankruptcy protection and said it was up for sale. The company will also sue Foxconn for fraud and breach of contract after the Apple supplier failed to follow through on an agreement to invest up to $170 million in the electric vehicle manufacturer.
TD SYNNEX (NYSE:SNX) stock fell roughly 7% after the company missed the consensus mark for Q2 results and Q3 earnings outlook. The company expects Q3 revenue in the range of $13.5 billion to $14.5 billion vs. the consensus of $14.99 billion and Non-GAAP diluted EPS in the range of $2.20 to $2.70 vs. the consensus of $2.76.
Adicet Bio (NASDAQ:ACET) shares dipped more than 10% after releasing results from an early-stage trial in patients with relapsed or refractory aggressive B-Cell Non-Hodgkinâs Lymphoma.

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