Market Movers: News Corp, Alibaba, Applied Materials, Cano Health, Maxeon Solar, IonQ, Archer Aviation, Lucid, Six Flags, UBS, and More
News Corp shares rise nearly 4% after reporting better-than-expected earnings in Q4, while UBS gains 5% as it ends loss protection agreement with Credit Suisse. Chip stocks drop over 2%, with the VanEck Semiconductor ETF falling 2.2%. Maxeon Solar Technologies shares plummet 32% after reporting a revenue miss in Q2. U.S.-traded shares of Chinese companies decline as Country Garden issues profit warning. Wynn shares retreat 4% after previous session's gains. Krispy Kreme rises 3% as JPMorgan reiterates overweight rating. Coinbase stock dips 2% as retail crypto traders flock to Robinhood. Tapestry gains 1% after announcing $8.5 billion acquisition of Capri Holdings. Kura Oncology shares rise 4% after Bank of America initiates coverage with a buy rating. DigitalOcean Holdings adds 2.8% following upgrade from Morgan Stanley.
