MIDDAY MOVERS: Twitter pounded after being called the Harvey Weinstein of social media by Andrew Left

Billionaire icon Carl Icahn raises stake in Newell Brands Inc

Twitter account
Twitter accused of being 'toxic' for women

Twitter Inc (NYSE:TWTR) shares were hammered Thursday after Citron Research's Andrew Left called it the Harvey Weinstein of social media. Amnesty International has concluded that Twitter is an abuser of human rights and has become a place that is “toxic” for women, noting that women are abused every 30 seconds on Twitter. The study focused on 800 female journalists and politicians to show the culture of hate that underpins Twitter. Left said that when he read the report from Amnesty International, he knew the stock has become "uninvestable." He forecast a price target of $20.

Twitter stock sank almost 12.3% to $28.90 midday.

Newell Brands Inc (NASDAQ:NWL) shares raced higher after well-known activist investor Carl Icahn increased his stake in the company which manufactures kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products. In a filing with the Securities and Exchange Commission, Icahn said he owned 9.9% of the company, up from a previous stake of 8.3%. The filing showed the investor purchased more than a million shares last month at prices ranging from $20 to $20.50.

Newell shares rose 0.8% to $20.57.

READ: Newell Brands in cooperation deal with Carl Icahn who gets to appoint 4 new board members

Celanese Corporation (NYSE:CE) stock increased because the company will be joining the S&P 500 index. Celanese Corporation manufactures and sells things like thermoplastic polymers and other chemical-based products worldwide. The company will trade on the index before the market opens on Monday, December 24, replacing Express Scripts Holding Co, which is being acquired by Cigna Corp.

Celanese shares climbed almost 4% to $88.12.

AstraZeneca PLC (NYSE:AZN) shares rose after its treatment for ovarian cancer and anemia met their primary efficacy endpoints in late-stage trials. The company said Lynparza, a cancer drug being jointly developed with Merck & Co (NYSE:MRK), improved response rates in patients with a form of relapsed ovarian cancer after chemotherapy. Its anemia drug, Roxadustat, also met its main goal in two separate studies evaluating its effectiveness in improving the hemoglobin count in patients undergoing dialysis.

AstraZeneca stock was up 0.09% to $38.01.

READ: Conagra Brands reaches US$10.9bn deal to acquire Pinnacle Foods

Conagra Brands Inc (NYSE:CAG) shares slumped after reporting fiscal second-quarter results which failed to impress the market. On an organic net sales basis, they fell 1.6% in the quarter. There is an estimated 2.2 percentage point negative impact from the hurricanes in last year's comparable period. The addition of Pinnacle's gross profit, together with supply chain realized productivity and improved pricing in the Legacy Conagra business, more than offset higher transportation and input costs and increases in retailer marketing for the Legacy Conagra business.

Conagra shares plunged 12.3% to 25.50.

Walgreens Boots Alliance Inc (NASDAQ:WBA) stock fell despite stronger-than-expected first quarter earnings but said cost savings and restructuring charges would hit its bottom line. The company said earnings for the fiscal first quarter came in at $1.46 per share, up 14% from the year-ago period. Revenues rose almost 10% to $33.8 billion. Walgreens outlined a three-year plan of cost cuts that would save $1 billion by the end of the third year which would affect its numbers. 

Walgreen's shares declined 4.5% to $69.96.

Contact Rene Pastor by [email protected]

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