During Market hours Friday (11.12.2020):

  • S&P 500 (Symbol: SPY) pulled back by 0.1% and the Nasdaq (Symbol: QQQ) dipped 0.2%. The Dow (Symbol: DIA) eked out a gain of 0.1% as shares of Disney rallied.
  • Snowflake (Symbol: SNOW) Shares of the data-warehousing software maker slid 5.2% after Deutsche Bank downgraded the stock a hold rating. Deutsche Bank’s $335 target is roughly 10% below where the stock closed on Thursday.
  • Nio (Symbol: NIO) U.S.-listed shares of the Shanghai-based electric vehicle company slid 7.2% after Nio said it would sell up to 69 million new shares. According to estimates from Deutsche Bank, the new share offering will raise more than $2.5 billion. Earlier this week Tesla said it plans to raise $5 billion through a new stock offering.
  • SolarEdge Technologies (Symbol: SEDG) Shares of the renewable energy company gained 6.6% after Piper Sandler initiated coverage on the stock with an overweight rating. Piper’s $325 target is about 19% above where the stock closed on Thursday.
  • Airbnb (Symbol: ABNB)  Shares of Airbnb slid 3.8% on Friday, one-day after more than doubling on the company’s first day of trading. Airbnb opened at $146 per share on Thursday, significantly higher than the $68 per share price set for its IPO. The pop pushed the home-sharing company’s market cap to about $86.5 billion.
  • Tesla (Symbol: TSLA)  Shares of the electric vehicle maker dipped 2.7% following a downgrade from Jefferies. Jefferies did, however, raise its 12-month target on the stock to $650 from $500.
  • Disney (Symbol: DIS)  Shares of the media giant soared 13.6% after the company said its streaming service, Disney+, could reach between 230 million and 260 million subscribers by 2024. The company also said its streaming business could be profitable by 2024.
  • Qualcomm (Symbol: QCOM)  Shares of the chipmaker lost 7.4% after Bloomberg News reported Apple is starting to make its own cellular modem to be used in future devices. Apple’s push into independently making their own modem would replace components made by Qualcomm.
  • UPS (Symbol: UPS)  Shares of the delivery and logistics company advanced 2.5% after Deutsche Bank said in a note to clients that it expected a “sizeable” beat for UPS’ fourth-quarter results, and said the distribution of the vaccine would be positive for the company.
  • Vail Resorts (Symbol: MTN)  The vacation resort stock slipped 4.6% on Friday after the company reported weaker-than-expected results for its fiscal first quarter. Vail reported $131.8 million in revenue for the quarter, down roughly 50% from the same period last year. Analysts expected $158.4 million in revenue. Vail did not provide forward guidance, citing uncertainty associated with the pandemic.
  • Lululemon (Symbol: LULU)  Shares of Lululemon dropped 6.7% despite the athletic apparel company posting better-than-expected quarterly results. Lululemon earned $1.16 per share in the third quarter, versus the 88 cents expected by analysts. The company’s revenue also came in above estimates. However, Lululemon declined to offer guidance for full-year 2020 due to the uncertainty around the pandemic. The stock has gained more than 50% this year.
  • American Airlines (Symbol: AAL) Shares of the airline slid 5.2% after Deutsche Bank downgraded its rating on the sector to hold. United (Symbol: UAL) and Delta (Symbol: DAL) Air Lines each fell more than 2%. The firm said that while it maintains its bullish long-term view, these stocks are “fairly valued” following their “record rally.”

During Premarket hours today – Monday (14.12.2020):

  • Pfizer (Symbol: PFE) Pfizer received emergency use authorization from the Food and Drug Administration for the Covid-19 vaccine developed in partnership with Germany’s BioNTech (Symbol: BNTX), with trucks rolling out from Pfizer’s Kalamazoo, Michigan, production plant over the weekend.
  • Alexion Pharmaceuticals (Symbol: ALXN) Alexion agreed to be bought by AstraZeneca (Symbol: AZN) in a $39 billion cash-and-stock deal valued at $175 per share, compared to Alexion’s Friday close of $120.98. The move will help expand AstraZeneca’s presence in treatments for rare diseases.

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