During Market hours on Friday – 22.04.2022
- The Dow (Symbol: DIA) went down 2.71%. The S&P 500 (Symbol: SPY) lost 2.74% and the Nasdaq (Symbol: QQQ) dropped 2.62%.
- American Express (Symbol: AXP) — Shares of the payment firm dipped 2.8% despite American Express topping earnings expectations for the first quarter. American Express reported a profit of $2.73 per share, versus the Refinitiv consensus estimate of $2.44 per share. Earnings got a boost from spending by millennials and Gen-X consumers, the company said.
- Verizon Communications (Symbol: VZ) — Shares of Verizon fell 6.1% after the company reported a loss of 36,000 monthly phone subscribers during the first quarter, compared with a FactSet estimate of a 49,300 loss. Verizon also posted earnings and revenue for the quarter that were in line with Wall Street forecasts.
- HCA Healthcare (Symbol: HCA), Universal Health Services (Symbol: UHS), Intuitive Surgical (Symbol: ISRG) — The health-care sector was under pressure Friday, with HCA Healthcare as its greatest laggard after reporting disappointing full-year earnings and revenue guidance. HCA dropped 19%, Universal Health Services tumbled 13%, and Intuitive Surgical declined about 13%.
- SVB Financial Group (Symbol: SIVB) — Shares for the regional bank soared more than 11% after the company reported strong earnings. SVB Financial Group earned an adjusted $6.22 per share, compared with a consensus estimate of $5.60 from FactSet. The company’s net interest income also beat expectations.
- Kimberly-Clark Corporation (Symbol: KMB) — Shares for the consumer products company spiked nearly 9% after Kimberly-Clark exceeded earnings expectations. The firm earned $1.35 per share in its most recent quarter, versus consensus estimates of $1.23 per share from Refinitiv. Kimberly-Clark also raised its full-year organic sales forecast.
- Gap (Symbol: GPS) — Shares for the retailer fell about 20% after Gap announced the chief executive officer of its Old Navy business, Nancy Green, is leaving the firm this week. Gap also cut its outlook for net sales growth this fiscal year.
During Premarket hours today (Monday – 25.04.2022):
- Coca-Cola (Symbol: KO) — Shares of Coca-Cola rose about 1% after the company beat analysts’ expectations on the top and bottom lines in the recent quarter. The beverage giant reported adjusted earnings of 64 cents per share on revenues of $10.5 billion, while analysts expected 58 cents per share on $9.83 billion in revenue.
- Twitter (Symbol: TWTR) — Twitter ticked 5% higher on reports that the social media giant is close to a deal with Elon Musk. It comes a day after the company’s board reportedly met Sunday to discuss a takeover bid from Elon Musk, who has already secured $46.5 billion in financing.
- Oil stocks —Shares of energy companies fell on Monday as oil prices fell on fears of a global slowdown amid lockdowns in Shanghai. Chevron (Symbol: CVX), ConocoPhillips (Symbol: COP), and Marathon Oil (Symbol: MRO) dipped 2.2%, 2.6% and 2.8% respectively.
- Kellogg (Symbol: K) — Shares of Kellogg dipped 1.8% after Deutsche Bank downgraded the stock to a hold. The bank cited the impact from workers’ strikes, rising inflation and supply chain disruptions among the reasons for the downgrade.
- Verizon (Symbol: VZ) — Verizon shares fell 1% after Goldman Sachs downgraded the stock to neutral. The bank said Verizon is situated well for 5G growth but offers a lower potential return compared to peers like AT&T.
- Penn National Gaming (Symbol: PENN) — The gaming stock rose 2.8% after Morgan Stanley named it a buy despite its recent underperformance. The bank also sees opportunities in its Barstool Sports and theScore businesses.
- Warner Bros. Discovery (Symbol: WBD) — Warner Bros. Discovery’s stock fell 2.5% as investors continued to digest the news that the company would shutter its CNN+ service weeks after its launch.
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