Up:

Chipotle Mexican Grill Surges on First-Ever Stock Split Announcement

Chipotle Mexican Grill Inc's shares jumped nearly 6% following the announcement of a 50-for-1 stock split. The move is intended to make shares more affordable for potential investors and employees. Chipotle's stock has reached record highs over the past year due to strong earnings and solid demand. The stock split, if approved at the annual meeting on June 6, will result in shareholders receiving 49 additional shares for each share held. The company's market value stands at $76.71 billion, with a forward P/E multiple of 49.72, which is higher than its industry peers.

Mobileye Global Inc Climbs on Volkswagen Partnership for Self-Driving Vehicles

Mobileye Global Inc's shares rose just under 5% after announcing a cooperation agreement with Volkswagen to develop a self-driving system for the ID.Buzz electric vehicle. Mobileye will provide software, hardware, and digital maps for the autonomous driving project. The financial details of the partnership were not disclosed. The collaboration aims to develop the ID.Buzz for use in mobility and transport services by 2026, leveraging Mobileye's technology and Volkswagen's experience in ride pooling and logistics.

Down:

BioNTech SE: Decline in Profit Due to Lower Covid Vaccine Sales

BioNTech shares dropped 7.5% after it reported a significant drop in fourth-quarter profit and revenue, primarily due to decreased sales of its Covid-19 vaccine, Comirnaty. The German biotech firm, traded on the U.S. stock exchange, saw its net profit fall to EUR 457.9 million from EUR 2.28 billion in the same period last year. Revenue also declined to EUR 1.48 billion from EUR 4.28 billion. The company anticipates a continued revenue decline this year while planning to increase research expenditure, particularly in the development of cancer drugs. BioNTech aims to launch its first cancer drug in 2026 and seeks approval for ten oncology indications by 2030.

Equinix Inc: Shares Drop Amid Accusations of Accounting Manipulation

Equinix Inc's shares fell by 4% after short-seller Hindenburg Research accused the company of manipulating its accounting. The report alleges that Equinix overstated its adjusted funds from operations (AFFO) by at least 22% in 2023 by misclassifying maintenance capital expenditures as growth capital expenditures. This practice can inflate profitability metrics and has been linked to executive bonuses since the company transitioned into a REIT in 2015. Equinix has not yet responded to the accusations.