Stocks moving in after hours: FedEx, Meta, Peloton

Yahoo Finance anchor Seana Smith breaks down after hours movers.

Video Transcript

[AUDIO LOGO]

DAVID BRIGGS: Let's get it over to Seana now for what's moving after-hours. Everything moving in the wrong direction today, my friend.

SEANA SMITH: It was. It has been a very, very ugly week here for the markets. Let's take a look at some of the biggest movers. And we got to start things off with FedEx, shares tanking today after it missed on earnings, that withdrew its guidance, the company warning that macroeconomic trends significantly worsened, the stock off 21% today. It's the second-worst performance of the stock since the crash of '87.

Now, the news from FedEx shook the market here, more broadly speaking, in particular, its competitor UPS. You can see that on the two-day chart here today, falling 4 and 1/2%. UPS off just about 7 and 1/2% over the last two days. So certainly, some worrisome signs here from FedEx and exactly what that means here for the broader economy going forward.

Let's take a look at another big story of the week, and that was the drop that we saw in tech stocks, Meta among the hardest hit in the crash. We had the social media giant falling more than 3% today, bringing that five-day drop for the stock to just about 13 and 1/2%. Now, the drop today takes Teta-- takes Meta to its lowest close that we have seen in years.

Putting the drop in perspective here-- so Meta's market cap has now dropped to just about $393 billion. That puts it almost in line with Exxon. Now, the five-day performance off just about 13%. Certainly has been a rough year here for Meta. Year-to-date stock still off just about 56%.

Now, rounding it out here with Peloton, a major shakeup at the company, founder John Foley out. He stepped down as executive chair on Monday-- on Monday. Now, Foley has been Peloton's CEO for about 10 years before stepping down earlier this year in February. Now, the move comes as Peloton really looks to reshape its business. For the week here, the stock off just about 5 and 1/2%.

Now, where we are trading today is a far cry from where we are during those pandemic high levels. We know Peloton was one of the darlings here of the pandemic. Certainly did see the stock really shoot much, much higher. So where we are trading today, $9.74 a far cry from the highs for Peloton. Again, shares over the past three years off 62%. Year-to-date, though, that's been the big story, shares off 72%.