Hot Stocks: CSCO falls on earnings; UAA drops as CEO leaves; Clean energy rally; SIGA, KRO rise
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Stocks finished a choppy session with further losses on Thursday, extending the steep decline that took place the previous day. The major averages flirted with positive territory in late trading but ultimately finished with modest losses.
Clean energy stocks bucked the overall negative trend in the market. Boosted by an initiative in Europe to accelerate non-fossil fuel energy sources, stocks like Maxeon Solar Technologies (MAXN), Enphase Energy (ENPH), Solaredge Technologies (SEDG) and SunPower (SPWR) all finished higher.
SIGA Technologies (SIGA) represented another standout gainer. The stock posted a double-digit percentage gain after achieving a regulatory milestone.
Meanwhile, Kronos Worldwide (KRO) extended its recent gains to set a new 52-week high, spurred higher by a positive analyst comment.
On the other side of the spectrum, the release of financial figures prompted a sharp decline in Cisco (NASDAQ:CSCO). Meanwhile, Under Armour (UAA)(UA) dropped to a new low on a major leadership change.
Sector In Focus
Clean energy stocks pushed higher following a European Union plan to accelerate the rollout of solar and wind installations. The move is part of an attempt to lower the region's reliance on fossil fuels from Russia, amid that country's ongoing invasion of Ukraine.
Maxeon Solar Technologies (MAXN) was among the best performers in the group. The stock rose about 11% on the news. 
Enphase Energy (ENPH), Solaredge Technologies (SEDG) and SunPower (SPWR) all advanced 6%.
Standout Gainer
A favorable regulatory decision fueled a rally in shares of SIGA Technologies (SIGA), with the stock finishing the day higher by 17%.
The U.S. Food and Drug Administration approved the intravenous formulation of SIGA's TPOXX treatment for smallpox. The firm's oral formulation of the drug has been approved in the U.S., Canada and Europe.
SIGA finished Thursday's trading at $8.65, an advance of $1.26 on the day. With the rally, the stock jumped to its highest level since late November.
Standout Loser
Cisco (CSCO) suffered dramatic selling pressure following the release of its latest quarterly results. With uninspiring results and a downbeat forecast, shares retreated 14% on the day.
The networking equipment maker reported a quarterly profit that edged past analysts' projections. However, revenue came in short of expectations, basically stagnating with last year at $12.8B. 
Meanwhile, the company predicted a revenue decline in the current quarter. At the same time, CSCO issued a profit forecast that was below the amount targeted by Wall Street experts.
CSCO plummeted $6.64 to finish at $41.72. Shares also set an intraday 52-week low of $41.02.
Thursday's drop accelerated a slide that has marked 2022 so far, with the stock coming off a 52-week high of $64.28 set in late December. CSCO has fallen 34% year to date.
Notable New High
An upbeat assessment from a market analyst drove buying in Kronos Worldwide (KRO), sending the stock to a new 52-week high. Shares rose 9% on the day, adding to a recent upswing.
Deutsche Bank raised its price target on the chemical company. The firm now sees KRO's price rising to $20, compared to its previous target of $18.
Boosted by the analyst note, KRO climbed $1.54 to finish at $18.02. During the session, the stock reached an intraday 52-week high of $18.31.
Shares have been rising for the past week and a half. KRO has climbed about 18% over that time.
Notable New Low
A major C-Suite shakeup sent Under Armour (UAA)(UA) spiraling. The stock dropped 12%, reaching a new 52-week low.
The maker of athletic apparel announced that its president and CEO, Patrik Frisk, will step down from his positions. The change goes into effect on June 1. 
The company has launched a search for a successor. In the meantime, current COO Colin Browne will become interim president and CEO on June 1.
UAA finished the session at $9.28, a decline of $1.25 on the day. The stock also established an intraday 52-week low of $9.16.
Shares have been falling steadily since the second half of November. UAA has lost about two-thirds of its value over the past five months.

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