• Tesla Inc.’s stock
  TSLA,
  +0.30%
  stock moved down 3.1%, and has dropped 8.1% amid a three-day losing streak. Berenberg downgraded the electric vehicle maker to hold from buy, citing valuation concerns, but raised the stock price target to $210 from $200. The NHTSA is investigating two incidents where the company’s Model Y SUV’s steering wheel detached.

• Bed Bath & Beyond Inc. stock
  BBBY,
  +8.94%
  surrendered early gains to trade down 1.9% after the troubled household items retailer said it has received about $135 million in gross proceeds from the exercise of preferred stock warrants that were issued as part of a public equity offering conducted on Feb. 7. That deal, which was described by KeyBanc Capital Markets analyst Bradley Thomas as “one of the most unusual financing situations we have witnessed in 20+ years of following consumer and retail companies,” has now produced total proceeds of $360 million, which the company has mostly used to repay debt.

• Brown-Forman Corp. stock
  BF.B,
  -1.24%

  BF.A,
  -0.82%
  lost 3.2% after the maker of Jack Daniel’s whiskey reported fiscal third-quarter profit that was less than half what was expected as inflation and supply chain costs weighed on margins. 

• AMC Entertainment Holdings stock
  AMC,
  -4.78%
  fell 2.5% after Chief Executive Adam Aron said the cinema chain has asked the New York Stock Exchange and FINRA to look closely at the trading of its stock, after a high number of ‘Fail to Deliver’ transactions, which are associated with naked short selling.

• Stitch Fix Inc. shares
  SFIX,
  -4.81%
  dropped almost 10% after the fashion styling retailer missed analyst expectations of its fiscal second quarter revenue and announced its CFO Dan Jedda was stepping down after under three years in the role.

• United Natural Foods Inc.’s stock
  UNFI,
  -5.30%
  fell 26%, after the grocery wholesaler reported fiscal second-quarter profit that missed by a wide margin, as “rapidly accelerating inflation” took a bite out of results. The company slashed its fiscal 2023 guidance range for adjusted EPS $3.05 to $3.90 from $4.85 to $5.15, but raised its sales outlook to $30.1 billion to $30.5 billion from $29.8 billion to $30.4 billion. 

• Trulieve Cannabis Corp. stock
  TRUL,
  -1.42%

  TCNNF,
  -1.22%
  tumbled 5% after the Tallahassee, Fla.-based company posted a wider-than-expected fourth-quarter loss and revenue that fell slightly short of estimates.

• Life Time Group Holdings Inc. stock
  LTH,
  -0.12%
  slid 9soun% to reverse premarket gains after the operator of athletic country clubs posted better-than-expected profit for the fourth quarter and offered upbeat guidance for 2023

• SoundHound AI Inc.’s stock
  SOUN,
  -9.95%
  dropped 16% following a fourth-quarter update, which included a wider loss than expected. The AI audio and speech recognition company posted a loss of $30.7 million, compared with a loss of $21.8 million in the same period last year.

• Synchronoss Technologies Inc. shares
  SNCR,
  -4.79%
  declined 27% after reporting a widening loss during the fiscal fourth quarter. The cloud and enterprise solutions provider said that its revenue was dragged down due to the macroeconomic environment impacting foreign currency and slowing down activity from its customers.

More more MarketWatch: Tesla’s stock at its lowest in a month after Elon Musk makes news for the wrong reasons

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