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Manhattan Associates (MANH) Stock Trades Down, Here Is Why
Shares of supply chain optimization software maker Manhattan Associates (NASDAQ:MANH) fell 10.8% in the afternoon session after the company announced that Eddie Capel, who joined in 2000, will retire as President and CEO. Eric Clark, currently CEO of NTT Data North America, will succeed him. Before leading NTT Data North America, Clark held leadership roles at ServiceNow, Dell, and Bank of America. Under Capel's leadership since 2013, when he became CEO, shares of MANH gained nearly 2,000%. However, recent quarters have brought challenges, and his departure introduces uncertainty as investors adjust to new leadership.
Why Lyft (LYFT) Stock Is Up Today
Shares of ride sharing service Lyft (NASDAQ: LYFT) jumped 5.5% in the morning session after the company announced plans to launch self-driving robotaxis in collaboration with Mobileye "as soon as 2026." Lyft's CEO, David Risher, posted on X that the company will also partner with Marubeni, a Japanese conglomerate specializing in auto and fleet financing. Risher added that putting more autonomous vehicles on the road could expand Lyft's addressable market. The company plans to launch in Dallas before expanding to other markets.
Why Hain Celestial (HAIN) Shares Are Getting Obliterated Today
Shares of natural food company Hain Celestial (NASDAQ:HAIN) fell 22.5% in the morning session after the company reported weak fourth-quarter results: its revenue, EBITDA, and EPS missed significantly. The company attributed the weak performance to "poor in-store performance in snacks, driven by marketing and promotion effectiveness, and supply chain challenges." Overall, this was a poor quarter.