During Market hours on Friday – 24.09.2021:
- The Dow (Symbol: DIA) went up 0.1%. The S&P 500 (Symbol: SPY) rose 0.2%. and the Nasdaq (Symbol: QQQ) popped 0.1%.
- Carnival (Symbol: CCL) — Carnival shares rose 3% after the cruise line said voyages for the third quarter were cash flow positive and expects this to continue. Shares of Norwegian Cruise Line gained about 3% and Royal Caribbean added 2.8%.
- Match Group (Symbol: MTCH) — Shares of Match Group rose about 4% after the online dating platform announced on Thursday that it will sell shares of its common stock in a registered direct offering. The price per share and number of shares of common stock issued will be calculated by a volume-weighted average price during a five-day averaging period starting Friday, the company said.
- Merck (Symbol: MRK) — Shares of the pharmaceutical giant rose 0.8% on Friday after Merck and AstraZeneca announced that treatment using the drug Lynparza showed positive results in a phase-three trial. The trial results suggest that the treatment slows the progression of prostate cancer and show a trend toward increased survival, the companies said.
- Nike (Symbol: NKE) — The apparel stock fell 6.3% after Nike cut its full-year guidance for sales growth. The company said supply chain issues in Vietnam were slowing sales. Nike now projects mid-single-digit revenue growth for its 2022 fiscal year, down from prior guidance of low-double-digit growth.
- Costco (Symbol: COST) — Shares of the retailer jumped 3.3% following Costco’s fourth-quarter results. The company beat top- and bottom-line estimates during the quarter, earning $3.90 per share excluding items on $62.68 billion in revenue. Analysts surveyed by Refinitiv were expecting $3.57 per share on $61.3 billion in revenue.
- Salesforce (Symbol: CRM) — Salesforce extended its Thursday gains, rising 2.8% after Piper Sandler upgraded the stock to overweight from neutral, saying it’s confident the company could see “a multi-year period of multiple and profit expansion.” The stock jumped on Thursday after the software company raised its full-year 2022 revenue guidance.
- Coinbase (Symbol: COIN) — Shares of the cryptocurrency exchange slid about 2.4% even after Needham reiterated the stock as a buy. Cryptocurrencies plunged Friday morning on news that China is issuing yet another crypto crackdown. Coinbase derives 90% of its revenue from retail transactions, which is highly correlated with crypto asset prices, according to Needham, so its stock price tends to move in tandem with cryptocurrencies.
- Cheesecake Factory (Symbol: CAKE), Dave & Buster’s (Symbol: PLAY) — Cheesecake Factory and Dave & Buster’s added 5.1% and 4.3%, respectively, after Jefferies upgraded the restaurant stocks to buy from hold. “We are incrementally more positive on the full service category following delta/inflation sell-off and exuberant Consensus forecasts reigned in,” Jefferies said.
- Roku (Symbol: ROKU) — Roku shares fell 3.8% after Wells Fargo downgraded the video streaming platform to equal weight from overweight. Wells Fargo said rising competition makes expectations for Roku’s revenue growth likely too high.
During Premarket hours today (Monday – 27.09.2021):
- Alphabet (Symbol: GOOGL) – Alphabet’s Google unit will cut the commissions it collects on third-party software sales in its Cloud Marketplace. That’s according to a person familiar with the matter who spoke to CNBC, who said Google will now collect just 3% of sales compared to the prior 20%.
- Tesla (Symbol: TSLA) – Tesla rolled out a software update that allows customers to request access to its Full Self-Driving beta software. Access will be granted to Tesla drivers who get a sufficiently high safety score.
- Gores Guggenheim (Symbol: GGPI) – The special purpose acquisition company will take electric car maker Polestar public through a merger, at a valuation of $20 billion including debt. Polestar is controlled by car maker Volvo and its parent Zhejiang Geely Holding Group. Gores rose 2.4% in premarket trading.
- Acceleron Pharma (Symbol: XLRN) – Acceleron is in talks to be acquired by an unidentified large pharmaceutical company for about $180 per share, according to people familiar with the matter who spoke to Bloomberg. Bristol-Myers Squibb (BMY) is considered one potential candidate, as it already owns an 11.5% stake in Acceleron.
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