Norwegian Cruise Line, Allstate, Roblox and More - Biggest Stock Movers of the Day

Norwegian Cruise Line's shares fell more than 6% after the company said in a filing with the Securities and Exchange Commission that it expects to report a net loss for the fourth quarter and full year of 2022, as well as the first quarter of 2023.

Charles Schwab's stock lost more than 6% after Bank of America double-downgraded it to an underperform rating. BofA said that clients will continue moving cash into alternatives such as money market funds.

Vornado Realty Trust's shares fell 3.3% after the company announced it was reducing its quarterly dividend from 53 cents to 37.5 cents per share. Vornado, which owns commercial properties in cities such as New York and San Francisco, cited the current state of the economy and capital markets as well as its own projected 2023 taxable income in making the decision.

Roblox's stock price fell by 6% after Morgan Stanley analysts downgraded the company's rating to "underweight." The bank said that Roblox's upside potential is limited following the release of strong December metrics.

Jefferies called Philip Morris stock "recession resistant," giving the Marlboro parent company a 2.4% boost.

ServiceNow shares rose nearly 3% after Bank of America named the software company a top pick. The firm noted ServiceNow's "best-in-class growth."

Tesla's stock price fell by more than 1% during midday trading today. Investment firm Piper Sandler reaffirmed its "outperform" rating on the stock, saying that investors should be actively buying shares. This comes after CEO Elon Musk's fraud trial began yesterday, stemming from tweets he wrote in 2018 about taking Tesla private. Those tweets caused the stock to rally at the time.

Alcoa's shares fell 4.6% on Thursday after the company announced its fourth-quarter results. Alcoa's adjusted fourth-quarter loss was 70 cents per share, narrower than the 81 cent loss expected, according to StreetAccount. However, the company's adjusted EBITDA - a profit metric that includes fewer expenses than net income - missed estimates. Alcoa said it expects total alumina shipments to decline year over year in 2023.

Discover Financial Services' stock fell nearly 2% after the company announced that it was setting aside more money to cover bad loans and expecting higher rates of customers defaulting on their loans. Although Discover beat earnings and revenue expectations for the quarter, the news about increased provisions for credit losses spooked investors.

CureVac's shares rallied by more than 9% after the company was upgraded by UBS to a "buy" from a "neutral" rating. UBS said that the Phase 1 results for an influenza treatment saw a "major inflection point."

Evercore ISI cut Ford's price target, saying the automaker could struggle if there is a recession. As a result, Ford's stock dropped 1.9%.

The stock of Allstate dropped by 7% the day after the insurance company announced its preliminary fourth-quarter results. These results include an estimated adjusted net loss of between $335 million and $385 million.

Shares of Northern Trust fell 10% after the company reported fourth-quarter net income per diluted common share of 71 cents, compared to $1.91 in the fourth quarter of 2021. Revenue from its trust and investment services came in at $1.04 billion, less than the $1.05 billion expected by StreetAccount.

Comerica's shares rose by about 6% after the company released its latest quarterly report, which showed earnings of $2.58 per share. This was higher than the $2.55 per share expected by analysts surveyed by Refinitiv.