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

Emergent BioSolutions Inc.’s stock
EBS,
+9.61%
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,
+10.42%
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,
+2.07%
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,
+5.25%
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,
+7.82%
jumped 10% Wednesday after the Dublin-based biopharma company announced a settlement of patent litigation with Teva Pharmaceuticals USA Inc.
TEVA,
+0.15%
 relating to Vivitrol, a treatment for alcohol and opioid dependence.

Stock decliners:

Box Inc.’s
BOX,
-9.35%
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,
-7.01%
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,
-18.04%
dropped 19% after the video-chip maker issued a disappointing forecast.

VinFast Auto
VFS,
-8.43%,
the Vietnam electric vehicle maker with a small float, fell 5% after skidding 44% on Tuesday.

Shares
BF.B,
-4.13%
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,
-11.48%
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,
-83.50%
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,
-23.43%
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.