Klarna Plunges, Amylyx Pharma Soars, Bath & Body Works Rallies

Today's biggest winners and losers in the stock market.

On this episode of Stock Movers:

- Shares of Klarna (KLAR) plunged in premarket trading after the payments company reported full year revenue and gross merchandise value guidance that missed expectations. The company cited foreign exchange pressures and volumes in Germany, even as it reported a profit beat for the second straight quarter. The payments firm said in a statement that it expects between $4.08 billion and $4.16 billion of revenue this year, down from about $4.3 billion previously. Klarna said it had taken a “more measured view” of activity in Germany, its largest market by volumes. Active consumers for the second quarter also missed expectations. 

- Shares of Amylyx Pharmaceuticals (AMLX) extended its rally in the early session to as much as 54%, after the drug developer said a late-stage trial of its experimental drug met its primary endpoint as a treatment for patients who experience low blood sugar levels following bariatric surgery. Amylyx plans to submit a new drug application to the US Food & Drug Adminstration by end of 2026, targeting a potential commercial launch in 2027.

- Shares of Bath & Body Works (BBWI) surged ahead of the opening bell after Citi raised its recommendation on the stock to buy from neutral. Analyst Paul Lejuez cited a favorable risk/reward outlook in his note. The company is slated to release earnings next week.

See omnystudio.com/listener for privacy information.