Despite the market drop, there are a few stocks bucking the tape.
Blue Apron (APRN) said in a regulatory filing that it had replaced its CEO, sending shares up over 6%. The meal-kit delivery company has been struggling ever since its IPO earlier this year, as it tries to hold on to customers in an increasingly competitive environment.
Mylan (MYL) shares are 3% higher after CNBC reported that Amazon held exploratory talks with generic drug makers, including Mylan and Sandoz, about a potential entry into the pharmacy space.
Ambarella (AMBA) shares surged 17% after the semiconductor firm’s earnings beat Street estimates, with consumer IP security and auto among its strongest spots.
Plug Power (PLUG) is trading higher after Canaccord Genuity initiated coverage of the stock to Buy. Analysts noted the company has been successful in commercializing its fuel-cell technology and cited the potential for product margins to grow.
Nutanix (NTNX) reported an earnings loss smaller than expectations. The cloud computing software company also reported a 32% year-over-year increase in billings, with 760 new customers for the quarter.