Crypto Stocks, Walgreens and More Thursday Morning Movers

MarketWatch_Investing-Cryptocurrency · 05 Jul 2022 76 Views

Coinbase and other crypto stocks falls as Bitcoin trades below $20,000.

Michael Nagle/Bloomberg

The stock market was taking a hit Thursday morning as the end of a brutal second quarter comes to a close. S&P 500 futures were down 1.4%. Here are some of the stocks making moves in premarket trading Thursday.

Cryptocurrency-related stocks were dropping after the price of Bitcoin fell below $20,000 and was set to record its biggest quarterly drop in a decades. Coinbase Global (COIN) fell 5%, Riot Blockchain (RIOT) declined 4.2% and Marathon Digital Holdings dropped 5.5%.

Walgreens Boots Alliance (WBA) was down 3.1% after the retail pharmacy chain posted a third-quarter earnings beat but profit that fell from a year earlier.

Carnival (CCL) fell 3.6% Thursday after closing 14.1% lower on Wednesday. Morgan Stanley cut its price target to a Wall Street-low, saying the stock could lose all of its value.

RH (RH) was down 6.7% after the home-furnishings retailer cut its revenue forecast due to slowing demand amid rising mortgage rates.

Duck Creek Technologies sank 16.3% after the software-as-a-service solutions provider cut its fiscal 2022 revenue outlook.

Upstart Holdings was 4.3% lower, one day after an analyst from Morgan Stanley lowered his rating on the lending platforms stock to Underweight from Equal-Weight and cut his price target to $19 from $88.

Write to Angela Palumbo at angela.palumbodowjones.com

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