During Market hours on Friday – 25.02.2022
- The Dow (Symbol: DIA) went up 2.5%. The S&P 500 (Symbol: SPY) rose 2.2% and the Nasdaq (Symbol: QQQ) gained 1.5%.
- Etsy (Symbol: ETSY) — Shares of the e-commerce shopping platform rallied 16.2% in midday trading after reporting better-than-expected results for the fourth quarter. Revenue also topped estimates. Etsy also got an upgrade to neutral from UBS following its strong results.
- Foot Locker (Symbol: FL) — The shoe retailer’s shares tumbled 29.8% after the company reported quarterly results and projected a fall in 2022 revenue, as it anticipates it won’t be selling as many products from Nike. Foot Locker’s outlook on full-year profit and comparable-store sales was weaker than expected.
- Dish Network (Symbol: DISH) — Shares of the telecom company jumped 11.3% on Friday after JPMorgan upgraded the stock to overweight from underweight. The investment firm said that the stock appeared more attractive after a recent decline and had several potential positive catalyst upcoming.
- Block (Symbol: SQ) — Shares of the payments giant soared by 26.1% after the company reported earnings and revenue that beat analysts’ expectations for its latest quarter. It also issued upbeat guidance for the current quarter and the full year, citing growing success in its consumer business, Cash App.
- LendingTree (Symbol: TREE) — The online lending marketplace’s shares added 15.6% after the company reported quarterly results that included a narrower-than-expected loss and a revenue beat. It also noted performance in its consumer segment was strong during the quarter.
- Carvana (Symbol: CVNA) — The online used car seller saw its shares rise 21% after announcing it would buy KAR Auction Services’ U.S. vehicle auction business for $2.2 billion in an effort to boost its physical presence. Shares of KAR gained 38.3%.
- Farfetch (Symbol: FTCH) — Shares of Farfetch soared 39.3% after the luxury fashion seller reported being profitable on an adjusted basis for 2021, following a recent tumble in its share price. The company’s quarterly results showed an adjusted quarterly loss of 3 cents per share, in line with estimates, and revenue that came in short of estimates.
During Premarket hours today (Monday – 28.02.2022):
- BP (Symbol: BP) – BP shares tumbled 7.1% in the premarket after saying it would sell its nearly 20% stake in Russia’s state-controlled oil producer Rosneft following Russia’s invasion of Ukraine.
- First Horizon (Symbol: FHN) – First Horizon shares surged 32.3% in premarket trading after the bank agreed to be acquired by Toronto-Dominion (TD) in an all-cash deal worth $25 per share or $13.4 billion. The move will help Toronto-Dominion expand its presence in the southeastern part of the U.S.
- Renewable Energy (Symbol: REGI) – The maker of renewable energy fuels agreed to be acquired by Chevron (CVX) for $61.50 per share, compared to the Friday close of $43.81. Renewable Energy shares soared 36.5% in the premarket.
- Northrop Grumman (Symbol: NOC), Raytheon Technologies (Symbol: RTX), General Dynamics (Symbol: GD) – These and other defense stocks surged in the premarket in the aftermath of Russia’s invasion of Ukraine and the pledge by European Union countries to spend more on defense. Northrop Grumman added 5%, Raytheon Technologies rallied 6% and General Dynamics gained 5.4%.
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