During Market hours on Friday – 08.04.2022

  • Robinhood (Symbol: HOOD) — Shares of the trading app dropped nearly 7% after Goldman Sachs downgraded the stock to sell from neutral. The Wall Street firm cited softening retail engagement levels, continued weakness in account growth and a limited path to near-term profitability for its updated outlook.
  • WD-40 (Symbol: WDFC) — The lubricant maker reported quarterly results that beat analyst expectations, sending the stock up 7.2%. WD-40 reported a profit of $1.41 per share, easily beating a Refinitiv consensus estimate of $1.01 per share.
  • EPAM Systems (Symbol: EPAM) — Shares for the software company surged 10.1% after EPAM Systems said it would terminate its operations in Russia. Stifel analysts said in a late Thursday note that they interpreted the decision as “positive as it removes the most visible overhang.”
  • Kroger (Symbol: KR) — Shares for the grocery chain jumped nearly 3% after Bank of America upgraded Kroger’s stock to buy from neutral. The firm believes Kroger can pass on the cost of rising food prices to customers.
  • Target (Symbol: TGT) — Shares jumped 2.3% after Target on Thursday was named a top pick in retail by Barclays, which said the stock is undervalued given its fundamental strength.
  • HP (Symbol: HP) — Shares for the computer maker declined 3.6% after UBS downgraded the stock to neutral from buy. UBS believes high valuations and weak consumer sentiment will limit upside for HP. The call comes after Warren Buffett’s Berkshire Hathaway purchased a major stake in the company this week.

During Premarket hours today (Monday – 11.04.2022):

  • Nio (Symbol: NIO) – The China-based electric carmaker’s shares slumped 8.4% in premarket action after it suspended production due to Covid-19 related supply chain disruptions.
  • Veru (Symbol: VERU) – The drugmaker’s shares surged 24.8% in the premarket after it reported “overwhelming” evidence of efficacy for its experimental drug for treating hospitalized Covid-19 patients. It will meet with the Food and Drug Administration to seek emergency use authorization for the treatment.
  • Sailpoint Technologies (Symbol: SAIL) – The cybersecurity company’s shares soared 29.5% in premarket trading after it agreed to be acquired by private-equity firm Thoma Bravo for $6.9 billion or $65.25 per share.

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