During Market hours Friday (Friday – 02.12.2022):

  • The Dow (Symbol: DIA) went up +0.10%. The S&P 500 (Symbol: SPY) lost -0.12%. and the Nasdaq (Symbol: QQQ) went down -0.40%.
  • Zscaler (Symbol: ZS) – The cloud security company’s shares dipped -10.7% following its quarterly earnings report, despite Zscaler posting strong results. Earnings and revenue were stronger than analysts’ expectations. The company also forecast better-than-expected earnings and revenue for its fiscal second quarter and full year.
  • Marvell Technology (Symbol: MRVL) – The semiconductor stock fell -1.5% after the company reported weaker-than-anticipated earnings and revenue for the most recent quarter. Its outlook for revenue for the fourth quarter also came in lower than analysts expected.
  • Enphase Energy (Symbol: ENPH) – Shares of energy name Enphase surged +7% Friday and hit a 52-week high after the company announced it launched a group of microinverters in Europe. 
  • Chinese stocks – Shares of Chinese retail stocks Baidu (Symbol: BIDU) gained +4.7% while JD.com (Symbol: JD) and Pinduoduo (Symbol: PDD) rose +5% and +3.1% respectively as signals of easing Covid restrictions in China calmed investors. NetEase (Symbol: NTES), a Chinese internet company, also gained +3.9%.

During Premarket hours today – (Monday – 05.12.2022):

  • United Airlines (Symbol: UAL) — Shares rose +1% after Morgan Stanley upgraded United Airlines to overweight from equal weight, saying 2023 could be a “goldilocks” year for the airline stock.
  • Silvergate Capital (Symbol: SI) — Shares dipped -3% after Morgan Stanley downgraded Silvergate Capital to underweight from equal weight, saying a “high level of uncertainty” remains around the stock following the FTX collapse.
  • Chinese tech stocks — Shares of Chinese internet stocks jumped in premarket trading after Beijing and Shenzhen reportedly further eased Covid restrictions. Shares of Bilibili (Symbol: BILI) surged +16%, while shares of Baidu (Symbol: BIDU) and Pinduoduo (Symbol: PDD) were each up more than +5%. Alibaba (Symbol: BABA) rose more than +4%.
  • MGM Resorts International (Symbol: MGM) — MGM jumped more than +3% after Truist upgraded it to buy, saying shares of the casino operator can jump more than 30% on a strong 2023 Las Vegas Strip calendar.

*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.