Lumen Technologies — Shares fell 22.5% after the cloud network data company reported a fourth-quarter loss of about $3.1 billion. Its earnings guidance for the year also came in below StreetAccount estimates.
Alphabet — Shares of Google's parent company dropped 7.5% after the company held an event to show off its new artificial intelligence chatbot called Bard, one day after competitor Microsoft held an event to show off AI technologies in its competing search engine.
CVS Health — CVS Health gained 4.6% after the company surpassed profit and sales expectations in its latest quarterly results. The pharmacy operator reported earnings of $1.99 per share on revenue of $83.8 billion. Analysts polled by Refinitiv were forecasting earnings of $1.92 per share on revenue of $76.21 billion. Separately, CVS Health said it would acquire primary care company Oak Street Health in a transaction valued at $10.6 billion.
Fortinet — The cybersecurity company jumped 10.8% after it beat analysts' earnings expectations for the most recent quarter. Fortinet posted earnings of 44 cents per share, while analysts expected 39 cents per share, according to StreetAccount.
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