During Market hours yesterday – (Monday – 03.01.2022):

  • The Dow (Symbol: DIA) went up 0.65%. The S&P 500 (Symbol: SPY) rose 0.58% and the Nasdaq (Symbol: QQQ) jumped 0.96%.
  • Tesla (Symbol: TSLA) — Shares of the electric vehicle company soared 13.5% to lead the Nasdaq Composite higher after the firm beat fourth-quarter and full-year delivery expectations. Tesla delivered 308,600 electric vehicles in the fourth quarter of 2021, better than an estimate of 267,000. Deliveries are the closest approximation of sales reported by Tesla.
  • Wells Fargo (Symbol: WFC) — Shares jumped 5.7% after Barclays upgraded the bank to overweight. Barclays said Wells Fargo could outperform due to its positive exposure to rising interest rates and potential relief from regulators.
  • Advanced Micro Devices (Symbol: AMD) — Shares of AMD rose 4.4% after Goldman Sachs named the stocks one of its top picks in the semiconductor industry. The firm said the chip stock is among the companies that will see continued strength as sector outperformance becomes more muted in 2022.
  • Wolfspeed (Symbol: WOLF) — Shares of the semiconductor company soared 8.4% after Piper Sandler upgraded the stock to overweight from neutral. The Wall Street firm called Wolfspeed a leader in the electric vehicle space with “a clear growth profile for 2022.”
  • PayPal (Symbol: PYPL) — PayPal shares rose 3.4% after BMO Capital Markets upgraded the stock to outperform from market perform, saying the payment giant’s slide has gone too far. The firm said that PayPal still faces uncertainty regarding competition and macroeconomic trends, adding its “valuation risks are now skewed to the upside.”

During Premarket hours today – (Tuesday – 04.01.2022):

  • Foot Locker (Symbol: FL) — The athletic footwear and apparel retailer dropped 3.9% in the premarket after J.P. Morgan Securities downgraded it to “underweight” from “neutral,” pointing to cost pressures and tougher competition.
  • Under Armour (Symbol: UAA) — Under Armour rose 2.5% in premarket trading after a Baird upgrade to “outperform” from “neutral.” Baird said the athletic apparel maker’s stock would benefit from a cyclical recovery in earnings.
  • Apple (Symbol: AAPL) — Apple remains on watch after becoming the first U.S. company to exceed $3 trillion in market value, reaching that milestone on Monday before pulling back. Apple straddled the $3 trillion price of $182.86 per share during premarket trading.
  • Ford Motor (Symbol: F) — Ford will start accepting purchase orders this week for its F-150 Lightning electric pickup truck. It had previously shut down its reservation system for the truck due to an overwhelming response. Ford added 1.4% in the premarket.
  • Coca-Cola (Symbol: KO) — The beverage giant’s stock rose 1% in the premarket after Guggenheim upgraded the stock to “buy” from “neutral,” citing a number of factors including strong emerging market performance and a faster-than-expected recovery in on-premises sales.
  • General Electric (Symbol: GE) — GE gained 1.4% in premarket trading after it was upgraded to “outperform” from “neutral” at Credit Suisse, with a price target of $122. Credit Suisse said a recent sell-off in GE shares gives investors the opportunity to benefit from a cyclical aerospace industry recovery.

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