During Market hours Friday — (Friday – 06.01.2023):
- The Dow (Symbol: DIA) went up +2.14%. The S&P 500 (Symbol: SPY) gained +2.29%. and the Nasdaq (Symbol: QQQ) jumped +2.76%.
- First Solar (Symbol: FSLR) — Shares of First Solar rose +7.8% after Wells Fargo upgraded it to overweight, saying Europe’s energy crisis and the Inflation Reduction Act in the U.S. will boost demand for solar energy.
- Bed Bath & Beyond (Symbol: BBBY) — Shares plunged about -22.5% after the retailer warned it was running out of cash and was considering bankruptcy. That prompted KeyBanc to cut its price target by 95% to 10 cents from $2 per share.
- Tesla (Symbol: TSLA) — Shares of Tesla rose by nearly +2.5% after falling to their lowest level in roughly two years earlier in the day. Tesla lowered prices for its Model 3 and Model Y vehicles in Asia.
- Silvergate Capital (Symbol: SI) — Shares of the crypto-focused bank fell -2.6%, adding to its 42% loss from the previous day. JPMorgan downgraded SI to neutral from overweight, citing Silvergate’s worse-than-expected deposit outflows and called into question the company’s long-term profitability.
- Agilent Technologies (Symbol: A) — Shares dropped -2.9%. Agilent said Thursday it will partner with Akoya Biosciences to develop solutions for tissue analysis. Shares of Akoya rose 9.5%.
During Premarket hours today – (Monday – 09.01.2023):
- Visa (Symbol: V), Mastercard (Symbol: MA) — Shares of the payments companies gained +1.1% and +1.7% respectively, after Keybanc upgraded their ratings from sector weight.
- Bed, Bath & Beyond (Symbol: BBBY) — Shares of the beleaguered retailer jumped more than +17% premarket. Bed, Bath & Beyond last week warned of its ability to continue as a going concern, sending shares plummeting.
- Oracle (Symbol: ORCL) — Shares of the software maker rose more than +1% in premarket trading following an upgrade to overweight from neutral by Piper Sandler. The investment bank said in a note that Oracle’s cloud business could see annual growth above 20% in the next few years.
- Uber (Symbol: UBER) — Shares gained +2.8% after the rideshare platform was upgraded to overweight from neutral by Piper Sandler. The bank said increased car prices will push consumers to Uber and other rideshare platforms.
- Nvidia (Symbol: NVDA) — The stock gained +1.6% premarket after being named a top pick by Wells Fargo analysts, who said they see a positive data center product-cycle materializing through 2023.
- Tesla (Symbol: TSLA) – Shares of Tesla rose +3.7% premarket Monday after Elon Musk attorneys on Saturday asked a California court to move a trial over the company stock to Texas, citing local negativity.
- Ferrari (Symbol: RACE) — Shares rallied more than +2% premarket after being named a top pick for 2023 by Bank of America. Analysts noted the automaker’s balanced strategy, resilient financial performance and conservative 2023 outlook.
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