During Market hours on Friday – 15.01.2021:

  • The Dow (Symbol: DIA) went down 0.6%. The S&P500 (Symbol: SPY) sank 0.73% and the Nasdaq (Symbol: QQQ) slid 0.79%
  • Exxon (Symbol: XOM) — The oil giant slid more than 4.8% after The Wall Street Journal reported that the SEC launched an investigation into Exxon. According to the report, the probe focuses on how the company valued a key asset in the oil rich Permian Basin.
  • Wells Fargo (Symbol: WFC) — Shares of the banking giant slipped more than 7% after Wells Fargo reported weaker-than-expected revenue for the fourth quarter.
  • Snap (Symbol: SNAP) – The social media company jumped more than 2.6% after MoffettNathanson upgraded the company to buy from neutral. The firm said Snap has the potential to accelerate its revenue and profits, which is still underappreciated by the rest of Wall Street.
  • Poshmark (Symbol: POSH) — Shares of the online clothing reseller dropped more than 18%, reversing course after a red hot debut on Thursday. The stock is still trading higher than its IPO price of $42 per share.
  • Spotify (Symbol: SPOT) — The music streaming company’s stock shed more than 6.5% after Citi downgraded the stock to sell from neutral. The investment firm said in a note that it believes Spotify’s push into podcasts is overvalued by the market.
  • Petco (Symbol: WOOF) – Shares of the pet supply retailer pulled back about 5.75% after its IPO surge in the previous session. The stock soared 63% in its market debut on Thursday as investors remained bullish on the pandemic-fueled pet boom.
  • Plug Power (Symbol: PLUG) – Shares of the hydrogen fuel cell company slipped more than 9.6% as investors took profits after the stock’s big week. Despite Friday’s decline, shares are still up more than 80% year to date.
  • JPMorgan (Symbol: JPM) — The stock dipped 1.79% despite the bank beating analysts’ estimates for fourth-quarter profit and revenue. JPMorgan reported earnings of $3.79 per share, higher than the expected $2.62 per share profit, according to estimates from Refinitiv. The bank reported revenue of $30.16 billion, topping estimates of $28.7 billion.
  • Citigroup (Symbol: C) — The bank slipped 6.93% after Citi reported mixed earnings for the fourth quarter. The bank earned $2.08 per share, topping estimates of $1.34 per share, according to Refinitiv. Revenue came in at $16.50 billion, lower than the forecast for $16.71 billion.
  • Accolade (Symbol: ACCD) — Shares of the healthtech firm jumped more than 9.5% after Accolade said it was buying telemedicine start-up 2nd.MD for about $460 million. The acquisition will bolster Accolade’s ability to provide users with second opinions for medical concerns.

During Premarket hours today – (Tuesday – 19.01.2021):

  • Goldman Sachs (Symbol: GS) – Goldman earned $12.08 per share for the fourth quarter, well above the consensus estimate of $7.47 a share. Revenue also came in above analysts’ forecasts, helped by strong bond trading and underwriting performances. Goldman shares rose 2% in premarket trading as of 7:40 a.m. ET.
  • Bank of America (Symbol: BAC) – The bank reported quarterly profit of 59 cents per share, 4 cents a share above estimates. Revenue was short of Wall Street forecasts, however. The company’s shares slipped 1.2% in the premarket.
  • Halliburton (Symbol: HAL) – The oilfield services company’s quarterly results came in 3 cents a share above estimates, with profit of 18 cents per share. Revenue beat forecasts as well, helped by cost cuts and a rebound in demand thanks to an increase in oil prices. Halliburton’s shares climbed 2.4% in the premarket.
  • Lumentum (Symbol: LITE) – Lumentum is buying rival laser maker Coherent (Symbol: COHR) for $5.7 billion in cash and stock. Coherent shareholders will get $100 in cash and 1.1851 Lumentum shares for each share they now hold. Lumentum shares sank 8.7%, while Coherent shares surged 32% in the premarket.
  • E.W. Scripps (Symbol: SSP) – Scripps jumped 10% in premarket trading, following a Securities and Exchange Commission filing indicating that Berkshire Hathaway (BRK.B) had received warrants that give it the right to buy 23 million shares at $13 apiece. The warrants are part of a deal announced in September, in which the media company used money from Berkshire to help finance its $2.65 billion acquisition of ION Media.
  • Logitech (Symbol: LOGI) – Logitech raised its annual forecast, following a quarter that saw its adjusted operating income nearly triple from a year earlier. The company’s shares rose 3.7% in the premarket.

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