During Market hours on Friday – 02.10.2020:

The markets were coiling and compressing as they processed political suspense and jarring events such as the news of President Donald Trump’s illness

  • The Dow (Symbol: DIA) went down nearly 0.5%. The S&P 500 (Symbol: SPY) fell almost 1% and the Nasdaq (Symbol: QQQ) dropped 2.8%. Despite Friday’s weakness, all three stock benchmarks were higher on the week.
  • Twilio (Symbol: TWLO) Shares of the cloud services company jumped 13% to a new all-time high after Twilio raised its forecast for third quarter revenue. The company said it is benefitting from the rise of remote work and education. Twilio is set to release its quarterly results in November.
  • American Airlines (Symbol: AAL), United Airlines (Symbol: UAL), Delta Airlines (Symbol: DAL), Southwest (Symbol: LUV), Alaska Air Group (Symbol: ALK) Shares of the major U.S. airlines went up on Friday despite of President Trump’s Covid-19 diagnosis. Shares of United Airlines increased more than 2.3%. Shares of American Airlines and Delta Airlines went up 3.3% and 2%, respectively. Southwest Airlines jumped 2.2%, while Alaska Air Group popped 1.6%.
  • Tesla (Symbol: TSLA) Shares of the electric vehicle company slid more than 7% following Tesla’s third quarter delivery numbers. The Elon Musk-led company said it delivered 139,300 vehicles during the quarter, which was slightly ahead of the 137,000 analysts had been expecting, according to estimates compiled by FactSet. 
  • Activision Blizzard (Symbol: ATVI) Shares of Activision Blizzard fell more than 5% after the video game company delayed the release of its popular World of Warcraft series until later this year. “We made the decision to do what’s right for the game and take the extra time, and we think players will enjoy this expansion even more as a result of the additional work,” the company said. The stock has gained more than 30% this year.
  • Peloton (Symbol: PTON) Shares of Peloton jumped nearly 2.5%, building on recent momentum. The exercise-equipment maker saw its subscribers more than double during the second quarter to over 1 million. The stock has jumped 20% in the past month, pushing its 2020 surge to more than 280%.
  • Carnival (Symbol: CCL), Norwegian Cruise Line (Symbol: NCLH), Royal Caribbean (Symbol: RCL) Shares of major U.S. cruise operators declined alongside the broader market as fears over a second wave of Covid-19 cases builds. Royal Caribbean and Norwegian lost 0.4% each, while Carnival traded 0.4% higher.
  • Hyliion Holdings (Symbol: HYLN) Shares of the electric truck maker slid more than 12% during its first day as a publicly traded company. Hyliion enters the market following a reverse merger with special purpose acquisition company Tortoise Acquisition Corp.
  • Bed Bath & Beyond (Symbol: BBBY) Shares of the retailer jumped another 10%, building on Thursday’s 25.13% gain. The surge follows the company’s second quarter earnings report, which showed an 80% jump in the retailer’s online business.
  • Janus Henderson Group (Symbol: JHG), Invesco (Symbol: IVZ) Janus Henderson jumped 16% while Invesco gained 5.3% after activist investment firm Trian Fund Management took a 9.9% position in each company. Trian is headed by Nelson Peltz.

During Premarket hours today – Monday (05.10.2020):

  • MyoKardia (Symbol: MYOK) The biotech company agreed to be bought by Bristol-Myers Squibb (Symbol: BMY) for $225 per share in cash, or $13.1 billion – a 61% premium to its closing price on Friday.
  • DraftKings (Symbol: DKNG)  The sports betting company announced a public offering of 32 million class “A” shares, half by the company and half by certain selling stockholders.

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