- The Dow (Symbol: DIA) went up 0.54%. The S&P 500 (Symbol: SPY) jumped 0.35% and the Nasdaq (Symbol: QQQ) rose 0.10%.
- Peloton (Symbol: PTON) — Shares of the exercise bike company tumbled more than 35% after the firm reported weakening sales growth and a wider-than-expected loss in its fiscal first quarter. Peloton also slashed its outlook for the full fiscal year amid softened demand for its exercise equipment and ongoing supply chain challenges. Several Wall Street investment firms downgraded the stock following Peloton’s dismal results.
- Shake Shack (Symbol: SHAK) — Shares of the burger chain jumped 16% despite its third-quarter revenue missing expectations. Shake Shack reported an adjusted loss of 5 cents per share on $193.9 million in revenue for the quarter, while analysts expected by Refinitiv were anticipating a loss of 6 cents per share on $197.5 million of revenue. However, BTIG upgraded the stock, saying that Shake Shack’s fundamentals would improve in the quarters ahead.
- Pfizer (Symbol: PFE) — Shares of the pharmaceutical giant added 10% after it delivered promising data on an antiviral oral Covid pill and said it will ask regulators to approve it as soon as possible. A similar one made by Merck and Ridgeback Biotherapeutics, approved by British regulators Thursday, is set to be evaluated by U.S. regulators this month. Merck’s stock (Symbol: MRK) is down 9%. Moderna (Symbol: MRNA) shares continued to tumble Friday, about 16%, after reporting a weaker-than-expected quarterly report Thursday.
- Expedia (Symbol: EXPE) — Shares of the travel company jumped 15% after Expedia handily beat analysts’ expectations during the third quarter. The company earned $3.53 per share excluding items, well above the $1.65 Wall Street was expecting, according to estimates from Refinitiv. Revenue came in at $2.96 billion, also ahead of the expected $2.73 billion. Shares of fellow travel company Booking Holdings (Symbol: BKNG) advanced more than 7% as demand continues to recover.
- Airbnb (Symbol: ABNB) — Airbnb shares rose nearly 13% after the company reported stronger-than-expected third-quarter revenue. The company posted revenue of $2.24 billion versus the Refinitiv consensus of $2.05 billion.
- Penn National Gaming (Symbol: PENN) — The casino and racetrack operators’ shares were up more than 7% Friday as investors bought the previous day’s dip. The stock fell 20% Thursday after reporting weaker-than-expected quarterly earnings.
- Uber (Symbol: UBER) — Uber shares rose more than 4% after the company reported its first profitable quarter on an adjusted basis, largely driven by its ride-sharing and food delivery services. On Thursday, Uber posted an overall loss, thanks to a drop in value of its stake in Didi, its Chinese counterpart.
During Premarket hours today (Monday – 08.11.2021):
- Tesla (Symbol: TSLA) — Shares of the automaker slumped 4.3% in premarket trading after CEO Elon Musk asked his followers on Twitter if he should sell 10% of his stock in the company.
- Regeneron Pharmaceuticals (Symbol: REGN) — Shares of the pharmaceutical company rose 2% after Regeneron said that a single dose of its antibody cocktail could provide long-term protection against Covid-19.
- Caterpillar (Symbol: CAT) — The industrial stock jumped more than 4% in premarket trading after it was announced a fresh pick at investment firm Baird. Caterpillar could see strong earnings in the next few years as the newly passed infrastructure bill adds to a strong demand environment, Baird said in a note to clients.
- Autolus Therapeutics (Symbol: AUTL) — The biotech stock surged more than 25% after Blackstone said it would invest up to $250 million in Autolus. The investment will help Autolus continue to build on a treatment for leukemia, the companies said in a release.
- Coty (Symbol: COTY) — The makeup and beauty stock rose 6.5% after the company reported better-than-expected results for its fiscal first quarter, according to estimates from StreetAccount. Coty also announced that it was selling more of its stake in Wella to KKR.
- SoftBank Group Corp (Symbol: 9984.T) — Shares of the Japanese bank fell less than 1% in Tokyo trading after SoftBank reported a loss for its fiscal second quarter. The company took a $10 billion loss from its Vision Fund, weighed down by losses in Chinese tech stocks, according to Reuters.
- Live Nation (Symbol: LYV) — The entertainment promotion company saw its stock fall nearly 4% in premarket trading on Monday after multiple people died at a Travis Scott concert over the weekend. Live Nation has reportedly been named a defendant in lawsuits about the event.
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