Stocks were rising Wednesday after the Federal Reserve said it would accelerate the taper of monetary stimulus and signaled three interest rate rises for 2022.
Here are some companies that took a hit on Wednesday.
1. Roku ROKU | Down 8.8%
Shares of Roku (ROKU) – Get Roku, Inc. Class A Report tumbled after analysts at JPMorgan and Morgan Stanley cut their price targets on the streaming hub. JPMorgan lowered its price target to $315 from $435 while Morgan Stanley cut its target to $190 from $295.
2. Roblox RBLX | Down 10%
Shares of Roblox (RBLX) – Get Roblox Corp. Class A Report slumped Wednesday after the gaming platform reported lower-than-expected user metrics. Monthly active users rose 35% to and bookings
3. Nucor NUE | Down 10%
Shares of Nucor (NUE) – Get Nucor Corporation Report fell after the steelmaker’s guidance for the fourth quarter missed estimates. Nucor expects earnings per share of $7.65 to $7.75 a share. Analysts surveyed by FactSet are expecting EPS of $8.18 a share.
4. Medtronic MDT | Down 6.5%
Shares of Medtronic (MDT) – Get Medtronic Plc Report struggled after the medical technology company said it received a warning letter from the U.S. Food and Drug Administration following an inspection of the company’s Northridge, Calif., facility. The plant makes its MiniMed 600 series insulin infusion pump and a remote-controller device for MiniMe 508 and Paradigm pumps.
5. Bloomin’ Brands BLMN | Down 1.2%
Shares of Bloomin’ Brands (BLMN) – Get Bloomin’ Brands, Inc. Report fell Wednesday after Barclays analyst Jeffrey Bernstein lowered the investment firm’s price target to $26 from $30 while maintaining its overweight rating. But Bernstein expects “more tailwinds than headwinds” in 2022 for restaurants.
Meanwhile, analysts at Jefferies named the stock to its franchise picks list.
Read More: 5 Top Stock Decliners for Wednesday as Stocks Rebound
