During Market hours on (Monday – 16.05.2022):

  • The Dow (Symbol: DIA) went up 0.17%. The S&P 500 (Symbol: SPY) lost 0.4%. and the Nasdaq (Symbol: QQQ) sank 1.16%.
  • Spirit (Symbol: SAVE), JetBlue (Symbol: JBLU) — Shares of JetBlue Airways dipped 6% on news that the company’s offering $30 a share to take over Spirit Airlines. The airline turned down a previous offer from JetBlue amid a planned merger with Frontier Airlines. Spirit’s shares soared 13.5% on the takeover news.
  • Signature Bank (Symbol: SBNY) — Shares fell 7% after the bank gave a midquarter update. Signature reported total deposits are down $1.39 billion. The drop comes as the crypto market is experiencing steep losses. Signature is known for serving crypto institutions, and swings in crypto prices can be reflected in its crypto-related deposit and transaction volume growth.
  • Carvana (Symbol: CVNA) — Carvana shares gained 4.1% before pulling back after the online used car retailer forecast a quicker-than-expected timeline for profitability. The company also shared plans to cut costs.
  • Twitter (Symbol: TWTR) — Twitter shares were 8.2% lower Monday as speculation about whether Elon Musk would complete his takeover deal of the social media company continued. The Tesla CEO tweeted over the weekend that Twitter’s legal team said he violated a nondisclosure agreement.
  • Rivian (Symbol: RIVN), Ford (Symbol: F) — Shares of Rivian fell 6.9% after Ford Motor disclosed in a Securities and Exchange Commission filing that it sold an additional 7 million shares of the electric vehicle maker. That follows Ford’s earlier sale of 8 million shares last week. Ford shares fell 3.3%.
  • Warby Parker (Symbol: WRBY) — The eyewear company fell 5.3% after it reported an unexpected loss of 30 cents per share as compared with estimates of a 1 cent per share profit, according to Refinitiv, for its most recent quarter. It also posted weaker-than-expected revenue.
  • Energy stocks — Energy names were the top gainers in the S&P 500 on Monday, as oil prices got a boost after the European Union moved closer to banning crude imports from Russia. Occidental Petroleum (Symbol: OXY) advanced 5.6%. APA Corp (Symbol: APA) advanced more than 3%, along with Marathon (Symbol: MRO), Devon Energy (Symbol: DVN) and Chevron (Symbol: CVX).

During Premarket hours today (Tuesday – 17.05.2022):

  • Walmart (Symbol: WMT) – Walmart slumped 7% in premarket trading after missing bottom-line expectations for the first quarter. The retail giant earned $1.30 per share, 18 cents a share below estimates as inflationary pressures offset the positive impact of better-than-expected sales.
  • Citigroup (Symbol: C) – Citi rallied 5.4% in the premarket following news that Berkshire Hathaway (Symbol: BRK.B) took a nearly $3 billion stake in the bank during the first quarter. Berkshire’s latest 13-F filing also showed that the company sold nearly all of an $8.3 billion stake in Verizon (Symbol: VZ), whose shares fell 1%.
  • United Airlines (Symbol: UAL) – United Airlines shares rallied 4.6% in premarket action after the airline raised its current-quarter revenue forecast, saying it expects its busiest summer since before the pandemic began.
  • Take-Two Interactive (Symbol: TTWO) – Take-Two jumped 4.9% in the premarket despite a quarterly miss in its key bookings metric as well as weaker-than-expected guidance. Analysts have pointed to a history of conservative guidance from the video game maker, and are also expecting a more upbeat outlook once its pending acquisition of Zynga (ZNGA) closes.
  • JD.com (Symbol: JD) – JD.com surged 9% after beating top-line and bottom-line estimates for its latest quarter, as the China-based e-commerce giant saw increased demand amid new Covid-related lockdowns. JD.com is also among tech stocks benefiting from hopes for relaxed regulatory curbs on tech companies, along with Pinduoduo (Symbol: PDD), up 8.6%, and Baidu (Symbol: BIDU), gaining 4.1%.
  • Tencent Music Entertainment (Symbol: TME) – Tencent Music shares jumped 6.5% in premarket trading, despite a 15% slide in quarterly revenue. Tencent Music shares are also benefiting from those hopes for looser regulatory curbs.

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