During Market hours on Friday – 10.12.2021:
- The Dow (Symbol: DIA) went up 0.6%. The S&P 500 (Symbol: SPY) gained 0.9% and the Nasdaq (Symbol: QQQ) rose 1.1%.
- Costco (Symbol: CSCO) — Costco shares rose more than 6% after the warehouse retailer posted its latest quarterly numbers a day earlier. The company earned $2.98 per share for its latest quarter on revenue of $50.36 billion. That top-line number surpassed a Refinitiv estimate of $49.6 billion. Costco’s earnings per share number was not comparable to a forecast of $2.64 per share.
- Oracle (Symbol: ORCL) — Shares of the software company soared 15.9% in midday trading on the back of better-than-expected quarterly results. With respect to guidance, Oracle called for $1.14 to $1.18 in adjusted fiscal third-quarter earnings per share. Analysts polled by Refinitiv had expected adjusted earnings guidance of $1.16 per share.
- Peloton (Symbol: PTON) — The fitness equipment maker’s shares lost 5.3% after a plot point in the first episode of HBO Max’s “Sex and the City” reboot involving Peloton’s Bike raised questions about the company’s image issues. Credit Suisse also downgraded the stock to neutral from outperform.
- Chewy (Symbol: CHWY) — Shares of Chewy sunk more than 9% after the online pet products retailer reported a wider-than-expected quarterly loss. Chewy posted a loss of 8 cents per share versus the Refinitiv consensus of 4 cents per share. Revenue matched analysts’ forecasts.
- Broadcom (Symbol: AVGO) — Broadcom shares rallied more than 7% after the chipmaker’s quarterly report beat Wall Street estimates. The company earned an adjusted $7.81 per share, 7 cents above a Refinitiv estimate, and issued an upbeat forecast.
- Beyond Meat (Symbol: BYND) — Shares of Beyond Meat dropped more than 6% after Bloomberg reported restaurant chain Taco Bell dropped plans to test Beyond Meat’s plant-based version of carne asada. Taco Bell reportedly was dissatisfied with samples it received in October.
- C3Ai (Symbol: AI) — The artificial intelligence software company saw its shares gain more than 3% after it won a $500 million contract from the U.S. Department of Defense.
- AMC Entertainment (Symbol: AMC) — AMC shares slid 9.9% after SEC filings showed a sale of 312,500 shares by CEO Adam Aron and a sale of 18,000 shares by CFO Sean Goodman. Aron had indicated in November that he would soon begin selling shares as part of estate planning.
During Premarket hours today (Monday – 13.12.2021):
- Harley-Davidson (Symbol: HOG) – The motorcycle maker’s stock surged 11.7% in the premarket after it announced that it is merging its “Livewire” electric motorcycle unit with a special purpose acquisition company. Livewire will have an enterprise value of about $1.8 billion and will trade on the New York Stock Exchange under the ticker symbol “LVW.”
- Pfizer (Symbol: PFE), BioNTech (Symbol: BNTX) – Pfizer rose 1.4% in the premarket while BioNTech jumped 4.4% after a new Israeli study showed that a booster shot from their Covid-19 vaccine provided strong protection against severe illness from the omicron variant. Pfizer’s pre-market gains were trimmed following news of its deal to acquire Arena Pharmaceuticals.
- Arena Pharmaceuticals (Symbol: ARNA) – The drugmaker agreed to be acquired by Pfizer for $100 per share in cash, or about $6.7 billion. Arena soared 93.1% in premarket trading following news of the transaction.
- Peloton (Symbol: PTON) – The fitness equipment maker rebounded 2.6% in premarket action after falling 7% over the past three sessions. Peloton released an ad featuring actor Chris Noth promoting the value of the company’s equipment, after his character’s death in the “Sex and the City” reboot following a Peloton ride.
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