During Market hours on Monday – 23.05.2022
- The Dow (Symbol: DIA) went up 2.05%. The S&P 500 (Symbol: SPY) gained 1.87%. and the Nasdaq (Symbol: QQQ) rose 1.66%.
- JPMorgan Chase (Symbol: JPM) — JPMorgan rose 6.2% after the bank said it expects to reach key return targets sooner than planned thanks to rising interest rates giving its lending business a boost. Other banks were also among the top gainers Monday.
- Gap (Symbol: GPS) — Shares fell 5.5% after Gap was downgraded by Citi along with a string of other apparel companies, such as Abercrombie and Fitch and Children’s Place, saying last week’s earnings reports should serve as a “wake-up call” for retailers.
- Electronic Arts (Symbol: EA) — Shares of Electronic Arts added 2.3% on news that it’s seeking a sale or merger. Walt Disney, Apple and Amazon have reportedly held talks with the video game maker.
- Eli Lilly (Symbol: LLY) — Eli Lilly’s stock added 1.25% as SVB Securities said the drugmaker’s diabetes drug is “game-changing” and could bring more gains for the stock.
During Premarket hours today (Tuesday – 24.05.2022):
- Best Buy (Symbol: BBY) — Best Buy jumped 5.2% in the premarket after the electronics retailer reported a mixed quarter. Best Buy fell 4 cents a share shy of forecasts, with quarterly earnings of $1.57 per share. Revenue was better than expected, however, and comparable-store sales did not fall as much as analysts had anticipated. Best Buy trimmed its full-year outlook based on worsening macroeconomic conditions.
- Abercrombie & Fitch (Symbol: ANF) — The apparel retailer’s stock plunged 30% in the premarket after the company reported an unexpected quarterly loss, despite better-than-expected revenue. Abercrombie was hit by higher costs, which it expects to remain a headwind for the rest of the year. The company also its full-year outlook.
- Zoom Video (Symbol: ZM) — Zoom rose 4.7% in premarket trading after the videoconferencing company reported better-than-expected quarterly earnings and raised its profit outlook. Demand for Zoom’s flagship videoconferencing services is waning as people return to offices, but Zoom is shifting its emphasis to products aimed at the hybrid workplace.
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