Wall Street's main indices ended mixed on Thursday as investors continued to digest a series of first-quarter earnings and key economic data.

Among the three indices, only the Nasdaq registered losses, down 0.18 percent. In contrast, the Dow Jones grew by 0.65 percent while the S&P 500 rose by 0.41 percent.

Wall Street’s main indices ended Thursday’s session mixed as investors continued to digest a series of first-quarter earnings and key economic data.

Among the three indices, only the Nasdaq registered losses, closing the session down by 0.18 percent. In contrast, the Dow Jones grew by 0.65 percent while the S&P 500 rose by 0.41 percent.

Meanwhile, 10 companies registered hefty losses during the session, battered by a flurry of negative news, missed estimates, and a weak outlook for the rest of the year.

In this article, let us explore the 10 companies that lag in performance and identify the reasons behind their decline.

To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume.

10. Coinbase Global, Inc. (NASDAQ:COIN)

Coinbase Global saw its share prices drop by 7.2 percent on Thursday to close at $244.44 apiece as investor sentiment was dampened by news that its customer data was stolen, held for ransom, and could potentially cost the company up to $400 million.

Coinbase Global, Inc. (NASDAQ:COIN) said in a regulatory filing on Thursday that it received an email from an unknown party on Sunday claiming that they accessed the cryptocurrency exchange’s customer database by paying multiple contractors and employees working in support roles outside the US.

The cybercriminals demanded as much as $20 million in ransom to keep the issue quiet. However, Coinbase Global, Inc. (NASDAQ:COIN) said it refused to pay the demanded amount but underscored that the issue could cost between $180 million to $400 million to fix underlying issues and reimburse affected customers.

9. Alibaba Group Holding Limited (NYSE:BABA)

Alibaba Group tanked by 7.57 percent on Thursday to finish at $123.90 apiece as investor sentiment was dampened by missed earnings forecasts in the first quarter of the year.

Alibaba Group Holding Limited (NYSE:BABA) saw net income attributable to shareholders jump by 279 percent in the first quarter of the year to 12.382 billion yuan from 3.270 billion yuan in the same period last year, while revenues increased by 7 percent to 236.4 billion yuan from 221.87 billion yuan year-on-year.

However, both earnings per share and revenue figures missed analysts’ estimates.

Meanwhile, CFO Toby Xu announced the distribution of annual and special dividends amounting to $4.6 billion.

The dividends will be paid out in two parts, totaling 25 cents per ordinary share or $2 per ADS. This comprised an annual regular cash dividend worth $0.13125 per share or $1.05 per ADS, as well as a one-time special cash dividend worth $0.11875 per ordinary share or US$0.95 per ADS.

The dividends will be applicable to shareholders as of record date June 12, 2025, both on the Hong Kong and US stock exchanges.