During Market hours on Friday – 18.06.2021:
- Nvidia (Symbol: NVDA) — Shares of Nvidia gained 2.3% midday, then closed 0.21% after Bank of America raised its price target on the stock to $900 per share from $800 per share. The bank said “rising AI adoption, expanding use-cases across cloud, enterprise, edge, telco can help NVDA double its content and triple its data center sales over the next few years.”
- Lennar (Symbol: LEN) — Lennar shares added 3.7% after JPMorgan upgraded the homebuilder to overweight from neutral. JPMorgan said Lennar’s stock as “attractive relative to its peers and effectively not reflecting the company’s significant and ongoing business transformation.”
- Adobe (Symbol: ADBE) — Shares of the digital cloud giant traded nearly 2.6% higher on the back of better-than-expected quarterly numbers. Adobe reported earnings per share of $3.03 on revenue of $3.84 billion. Analysts expected a profit of $2.81 per share on sales of $3.73 billion.
- Smith & Wesson Brands (Symbol: SWBI) — The firearms manufacturer stock surged 17.4% after the company’s quarterly results beat analyst expectations. Smith & Wesson’s earnings per share of $1.71 beat forecast by 69 cents. The company’s revenue of $322.9 million also surpassed an estimate of $259.8 million. Smith & Wesson also raised its dividend by 60% and authorized a $50 million stock buyback.
- Orphazyme (Symbol: ORPH) — Shares of Orphazyme plunged nearly 50% after U.S. regulators rejected its application for a drug intended to treat Niemann-Pick disease type C.
- Fox Corporation (Symbol: FOX) — Fox shares gained 1.3% after the company upped its stock repurchase program by $2 billion to a total of $4 billion.
- Citigroup (Symbol: C) — The bank stock fell 1.8% midday, putting it on pace for its 12th straight daily loss. Shares of Citigroup are down more than 11% this week.
During Premarket hours today – (Monday – 21.06.2021):
- MicroStrategy (Symbol: MSTR) – MicroStrategy shares tumbled 8.7% in premarket trading amid a slide in bitcoin prices following the expansion of China’s crackdown on bitcoin mining. The business analytics company is among the biggest corporate investors in bitcoin, with several billion dollars in holdings on its books.
- Coinbase (Symbol: COIN) – The cryptocurrency platform’s stock slid 3% in premarket action, also hit by the drop in cryptocurrencies amid the latest actions by the Chinese government.
- Raven Industries (Symbol: RAVN) – Raven agreed to be bought by fellow agricultural equipment maker CNH Industrial (CNHI) for $58 per share, or $2.1 billion, compared to Raven’s Friday close of $38.62 per share. The stock soared 49.7% in premarket trading.
- ZipRecruiter (Symbol: ZIP) – The jobs website operator’s shares rose 2.8% in the premarket after Goldman Sachs rated it “buy” in new coverage and Evercore began coverage with a rating of “outperform.” The upbeat assessments cite ZipRecruiter’s growth prospects and ability to disrupt the employment market.
- GlaxoSmithKline (Symbol: GSK) – Glaxo is set to cut its dividend, according to a report in the U.K.’s Daily Mail newspaper. The drugmaker will hold an investor event on Wednesday, and the paper said a cut of as much as 50% will be revealed at that meeting.
- Tesla (Symbol: TSLA) – Former Tesla executive Jerome Guillen sold about $274 million in Tesla shares since June 10, according to a Securities and Exchange Commission filing. Guillen left Tesla earlier this month after 11 years, most recently running the company’s Tesla Heavy Trucking unit.
- Amazon.com (Symbol: AMZN) – Amazon’s two-day Prime Day event is underway, the first time the event has been held in June. A number of other major retailers – including Walmart (Symbol: WMT), Target (Symbol: TGT), Kohl’s (Symbol: KSS), Macy’s (Symbol: M) and Costco (Symbol: COST) are holding competing sales events this week.
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