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Movers & Shakers: HP’s stock slumps on cautious outlook, VinFast shares on the move again and other stocks in the spotlight

Here are the day’s biggest movers:

Stock gainers:

Vera Bradley Inc.’s stock VRA, +8.89%  rose 10% after the handbag and accessories company swung to a profit in its fiscal second quarter from a loss a year ago and swept past earnings estimates.

Emergent BioSolutions Inc.’s stock EBS, +8.97% rose 1% after the company said its Narcan nasal spray — an antidote for an opioid overdose — will be available without a prescription starting in September. 

Insulet Corp.’s stock PODD, +10.33% rose 7% to lead S&P 500 gainers, after Chief Executive James Hollingshead purchased 5,500 shares at an average price of $181.41.

Nvidia Corp.’s stock NVDA, +2.12% rose 1.8% after closing Tuesday at a record high. Melius Research analyst Ben Reitzes said he sees a case to be made that the stock could be “cheap,” at least on a relative basis.

Lyft Inc.’s stock LYFT, +5.06% soared 6.6%, after lead independent director Sean Aggarwal scooped up $1 million of the ride-hailing company’s stock, joining Chief Executive David Risher, who made a similarly sized purchase earlier in the month.

Shares of Alkermes PLC ALKS, +7.84% jumped 10% Wednesday after the Dublin-based biopharma company announced a settlement of patent litigation with Teva Pharmaceuticals USA Inc. TEVA, +0.21%  relating to Vivitrol, a treatment for alcohol and opioid dependence.

Stock decliners:

Box Inc.’s BOX, -9.09% stock tumbled 9% after the applications developer reported quarterly results that barely topped analyst revenue and earnings estimates but offered weak guidance.

Shares of HP Inc. HPQ, -7.03% skidded 8% to lead S&P 500 decliners following an earnings report highlighted by a third straight revenue miss and warnings of a challenging economy for the PC and printer maker.

Ambarella Inc. shares AMBA, -17.83% dropped 19% after the video-chip maker issued a disappointing forecast.

VinFast Auto VFS, -6.81%, the Vietnam electric vehicle maker with a small float, fell 5% after skidding 44% on Tuesday.

Shares BF.B, -4.29% of Brown-Forman Corp. took a beating after the spirits company, which is the parent of the Jack Daniel’s whiskey brand, reported a surprise drop in fiscal first-quarter profit and sales that came up a bit shy.

 MasterCraft Boat Holdings Inc.’s stock MCFT, -10.22% slid 12.6% after the powerboat maker provided a fiscal 2024 outlook that was well below forecasts, citing “significant uncertainty” regarding retail demand given expectations of an economic downturn.

Outlook Therapeutics Inc.’s stock OTLK, -83.48% tumbled 84% after the company said the U.S. Food and Drug Administration has issued a Control Response Letter for the company’s Biologics License Application for a treatment for wet age-related macular degeneration.

Shares FGEN, -22.46% of FibroGen Inc. slid 28% after the company said its investigational treatment for Duchenne muscular dystrophy failed to meet its primary and secondary endpoints in a clinical study.

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