Hawaiian Electric's stock falls on dividend halt and lawsuit, Digital World Acquisition Corp. slides, and other moving stocks

By MarketWatch

Domo shares slump after disappointing outlook

Here are some of Friday's biggest movers:

Stock gainers:

Shares of Affirm Holdings Inc. (AFRM) rallied nearly 23% after the buy-now-pay-later operator topped expectations with its latest quarterly results

Stock decliners:

Domo Inc.'s stock (DOMO) dropped more than 40% after the cloud-data software company's outlook soured its better-than-expected results.

Hawaiian Electric Industries Inc. shares (HE) slid 20% after the utility halted its dividend to shore up its cash position -- and after it was sued by Maui County for allegedly contributing to the devastating wildfires on the island.

Digital World Acquisition Corp.(DWAC), the special purpose acquisition company working on a merger with Trump Media & Technology Group, fell 0.8% after former President Donald Trump was arrested in Georgia late Thursday on charges he meddled in the state's 2020 presidential-election results.

Marvell Technology Inc. shares (MRVL) declined 7% after the chip maker reported earnings that beat the Wall Street consensus, but offered an in-line outlook.

Shares of Nordstrom Inc.(JWN) fell 5.5% after the upscale department-store chain warned that sales had "decelerated" at its namesake and off-price Nordstrom Rack stores.

-MarketWatch

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08-25-23 1006ET

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