During Market hours on Friday – 18.03.2022

Last week, the three major US indices all rose as a pause in the Russia-Ukraine conflict signaled the start of a peace process. Below some of the most representative highlights:

  • The Dow (Symbol: DIA) went up 0.50%. The S&P 500 (Symbol: SPY) gained 0.78% and the Nasdaq (Symbol: QQQ) jumped 2.05%.
  • GameStop (Symbol: GME) — Shares of the video game retailer gained about 3.5%, erasing big overnight losses, as investors looked past the company’s unexpected loss during the holiday quarter. GameStop said it’s launching a new marketplace for nonfungible tokens, or NFTs, by the end of the second quarter.
  • FedEx (Symbol: FDX) — FedEx shares fell nearly 4% after the company missed earnings estimates for the quarter. The company beat on revenue but said worker shortages amid the omicron variant outbreak hurt its bottom line.
  • Tesla (Symbol: TSLA) — Shares gained 4% after Morgan Stanley reiterated its overweight rating on Tesla. The call came after CEO Elon Musk tweeted that he was “Working on master plan part 3.” Morgan Stanley said it sees “Part 3 as mass industrialization, a network flywheel and ‘connecting the dots’ across adjacent TAMs.”
  • Moderna (Symbol: MRNA)  — Shares of Moderna rose 6% on news that it is seeking FDA approval for a second Covid-19 booster shot for adults 18 years or older. Pfizer and its partner BioNTech requested approval for a Covid-19 booster for those 65 and older this week.
  • Rent the Runway (Symbol: RENT) — Shares of the fashion rental company soared 19% after Jefferies initiated coverage of the company with a buy rating, noting the company’s high barrier to entry could help it drive as much as 50% top-line growth.

During Premarket hours today (Monday – 21.03.2022):

  • Boeing (Symbol: BA) — A Boeing 737-800 jet operated by China Eastern Airlines crashed in the mountains of southern China with 132 people aboard, with no immediate word on casualties. Boeing shares sank 5.8% in the premarket.
  • Anaplan (Symbol: PLAN) — Anaplan agreed to be bought out by private-equity firm Thoma Bravo for $10.7 billion, or $66 per share in cash. The business planning software company’s stock had closed at $50.59 per share on Friday, and the stock surged 28.3% in the premarket.
  • General Motors (Symbol: GM) — GM bought Softbank’s $2.1 billion stake in its Cruise driverless-car division. It also announced it would invest an additional $1.35 billion in cruise, replacing funds that Softbank had pledged to provide. GM initially fell more than 1% in the premarket but then pared those losses.
  • Nio (Symbol: NIO) — Nio said it had no immediate plans to raise prices on its electric vehicles, although China-based carmaker said it would be flexible on pricing. Rivals like Tesla (TSLA) and BYD have recently raised prices due to higher materials costs.
  • BlackBerry (Symbol: BB) — The communication software company’s stock added 2.1% in the premarket after RBC upgraded it to “sector perform” from “underperform,” saying the stock’s price is now more aligned with BlackBerry’s fundamentals.

*Any information contained in this article, including any information contained in external third party links, if any, is solely for informational purposes and does not contain, or should not be construed as containing, investment advice or an investment recommendation, or, an offer of or solicitation for any transactions in financial instruments. Past performance does not guarantee or predict future performance. Colmex Pro Ltd does not take into account your personal investment objectives or financial situation and makes no representation, and assumes no liability to the accuracy or completeness of the information provided, nor for any loss arising from any investment based on presented information.