Morning Movers: Bristol Myers jumps after FDA approves schizophrenia treatment

Check out this morning’s top movers from around Wall Street, compiled by The Fly. 

HIGHER –

• Establishment Labs (ESTA) 24% after the company reported FDA approval for its Motiva SmoothSilk breast implants
• Wynn Resorts (WYNN) up 2% after being upgraded to Overweight from Equal Weight at Morgan Stanley
• Bristol Myers (BMY) up 5% after the FDA approves COBENFY, an oral medication for the treatment of schizophrenia in adults

UP AFTER EARNINGS –

• Scholastic (SCHL) up 8%

DOWN AFTER EARNINGS –

• Costco (COST) down 1%

LOWER –

• Cassava Sciences (SAVA) down 12% after the company and two of its former executives agreed to pay more than $40M to settle SEC charges related to misleading statements made in September 2020 about the results of a Phase 2 clinical trial for the company’s purported therapeutic for the treatment of Alzheimer’s disease
• Udemy (UDMY) down 7% after Morgan Stanley downgraded shares to Underweight, saying the company’s shift in strategy could be a sign of weakening demand
• Dollar General (DG) down 2% after Citi downgraded the stock to Sell, saying the company “has had a tough” two years with comps only slightly positive each year and fiscal 2024 EBIT margin of 4.7% versus 8.4%in fiscal 2019, despite the sales base being 50% larger this year
• HP Inc (HPQ) down 3% after BofA downgraded the shares to Neutral on print margin revision
• Acadia Healthcare (ACHC) down 4% after disclosing receipt of requests for information related to government investigations