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.
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