During Market hours on Friday – 04.02.2022:
- The Dow (Symbol: DIA) went down 0.03%. The S&P 500 (Symbol: SPY) went up 0.47% and the Nasdaq (Symbol: QQQ) rose 1.26%.
- Amazon (Symbol: AMZN) — Shares of Amazon popped 13.5% following a stellar quarterly report. The company said its investment in electric vehicle company Rivian gained almost $12 billion in the fourth quarter. Amazon Web Services delivered almost 40% year-over-year growth in the fourth quarter, beating Wall Street estimates. Amazon also announced it would increase the price of Prime to $139 from $119 for annual memberships. The cost of a monthly Prime membership will also rise to $14.99 from $12.99.
- Ford Motor (Symbol: F) — Ford fell 9.7% after a weaker-than-expected quarterly report. The automaker posted earnings of 26 cents per share on revenue of $35.3 billion. Analysts surveyed by Refinitiv expected a profit of 45 cents per share on revenue of $35.52 billion.
- Snap (Symbol: SNAP) — Shares of the social media platform soared 58.8% after the company reported its first-ever quarterly net profit. Snap’s quarterly results also showed it’s seeing quicker-than-expected progress on its transition with advertisers around Apple’s privacy changes on iOS. Its shares had just suffered a 23.6% sell-off on Thursday, prior to the earnings release.
- Clorox (Symbol: CLX) — The cleaning products stock tumbled 14.5% after Clorox’s second-quarter earnings came in at 66 cents per share, which was 18 cents below expectations, according to Refinitiv. Clorox also delivered full-year earnings guidance that missed estimates. Atlantic Equities downgraded the stock to underweight.
- Pinterest (Symbol: PINS) — Pinterest popped 11.2% following a better-than-expected quarterly report. The social media platform posted earnings of 49 cents per share, 4 cents above the Refinitv consensus estimate. Revenue also topped Wall Street expectations.
- Unity Software (Symbol: U) — Shares of the video game platform surged 17.4% after the company reported better-than-expected quarterly results and issued upbeat current-quarter guidance. Unity also said it has strong growth opportunities over decades in the future based on interactive real-time 3D gaming.
- Meta Platforms (Symbol: FB) — Shares of Facebook’s parent company fell for another day after the tech giant’s disappointing quarterly report Wednesday, down about 1.2% midday before closing 0.3% lower. Friday’s dip comes after other social media companies like Snap saw better-than-expected progress in adapting their digital advertising to Apple’s iOS privacy changes.
During Premarket hours today (Monday – 07.02.2022):
- Spirit Airlines (Symbol: SAVE) — Spirit surged 13% in the premarket after announcing it would buy competitor Frontier Airlines in a stock swap deal valued at $6.6 billion including assumed debt. Shares of Frontier’s parent company Frontier Group (Symbol: ULCC) fell 1.2%.
- Peloton (Symbol: PTON) — Peloton rocketed 28.5% higher in premarket trading, following reports that both Amazon.com (Symbol: AMZN) and Nike (Symbol: NKE) are mulling possible bids for the fitness equipment maker. The reports come a few days after activist investor Blackwells Capital urged Peloton’s board to consider a sale of the company.
- Energizer (Symbol: ENR) — The company best known for its batteries saw its stock surge 4% in premarket trading after reporting better-than-expected quarterly results. Energizer beat estimates by 8 cents share, with a profit of $1.03 per share. Revenue also topped Wall Street forecasts. Energizer warned the current operating environment remains “very volatile.”
- Spotify (Symbol: SPOT) — Spotify CEO Daniel Ek said he strongly condemns racial slurs used by podcaster Joe Rogan, but said removing his podcast from the Spotify platform is not the answer. A number of popular music artists have had their music pulled from Spotify amid the controversy over Rogan’s comments on Covid-19. Spotify shares fell 2% in the premarket.
- Snowflake (Symbol: SNOW) — The cloud data platform provider’s stock rallied 4.8% in the premarket after Morgan Stanley upgraded it to “overweight” from “equal-weight,” saying investors are undervaluing Snowflake’s potential for durability and quality of growth.
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