Stock Laggards Tuesday: JetBlue, PepsiCo, Nucor -- WSJ

Dow Jones04-23

By Katy Barnato and Anna Hirtenstein

JetBlue $(JBLU)$: Shares tumbled nearly 15% in early trading after the airline sliced its 2024 revenue forecast. The carrier cited elevated capacity in its key Latin America network.

PepsiCo $(PEP)$: The maker of Lays and Doritos posted sales that topped analysts' projections, but its earnings disappointed. Its shares declined 3%.

Tapestry $(TPR)$, Capri Holdings $(CPRI)$: Shares of both companies fell after regulators said they would block Tapestry's $8.5 billion acquisition of rival Capri.

Cadence Design Systems $(CDNS)$: The software company's shares declined nearly 2% after its financial outlook missed expectations.

Nucor $(NUE)$, Cleveland-Cliffs $(CLF)$: Shares of both steelmakers slid in early trading after they reported cooler demand for the metal late Monday.

Xerox $(XRX)$: Shares fell nearly 13% after the printing company reported a quarterly loss, weighed down by restructuring costs.

Sichuan Baicha Baidao Industrial: Shares of the Chinese bubble-tea company known as ChaPanda fell 27% in their trading debut, in Hong Kong's biggest listing this year.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

April 23, 2024 10:31 ET (14:31 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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