Facebook falls on Apple ad changes, Workhorse suspends deliveries, Netflix gains on bullish call

Ines Ferre breaks down some of Wednesday’s early stock movers, including: Facebook lower after warning Apple’s privacy changes could impact Q3 results, Workhorse under pressure after halting electric van deliveries, and Netflix gaining after a price target boost at Stifel.

Video transcript

EMILY MCCORMICK: And we want to get a check of these markets with Yahoo Finance's own Ines Ferre. Ines, what are you watching?

INES FERRE: You just mentioned, right now, the Dow is up 350 points. You can see the NASDAQ and the S&P 500 on our Wi-Fi interactive board. Those are higher as well ahead of the Fed decision and Jay Powell's Presser later today. We're also taking a look at the 10-year sitting at around 1.32, 1.32%.

Taking a look at the sector action, because we are seeing with the sectors what was down yesterday and the day before today is rebounding quite a bit. We're watching energy stocks-- those are the leaders today-- financials and materials leading the gains, as well. I want to point to what's happening on the NASDAQ, because we are seeing Facebook down about 4%. This is at Facebook's lowest level since July. This is because of a blog post where Facebook is saying that it's experiencing headwinds from Apple's restrictions on ad tracking, that data collection.

And they mentioned this back in July, but the impact seems to be greater this period in the third quarter than in the second. And you can see a five-day chart. Facebook has been on a down trend over the last five sessions. Taking a look also at what's happening with Netflix, as you were mentioning, up 3%, Wall Street really liking this addition to content that Netflix has been announcing recently. You have a steeple node with an increased price target to $650, saying that subscriber growth in the second half of the year is expected to be higher just because based on the strong content that they're coming out with.

And then looking at the EV space, we are watching one of the biggest losers here being Workhorse, down about 9% after the company announced that it's suspending its C-1000 deliveries, recalling 41 already that have been delivered. And I also want to mention today is a big IPO day, guys, because you've got Toast. This is a company, a technology for restaurant delivery and also contact links ordering. They'll be going public. They sold their shares for $40 each with a market cap-- initial market cap of $20 billion.

Also, AKA Brands. This is a fashion company with brands for millennials and Gen Z. They'll be going public as well, and Fresh Works. fresh Works is a business software company. Its rival is Salesforce, raising $1 billion, so a lot of IPOs on tap for today.

EMILY MCCORMICK: All right, thank you so much. Yahoo Finance's Ines Ferre for breaking that down for us.