During Market hours yesterday — Monday – 04.10.2021:
- The Dow (Symbol: DIA) fell 0.9%. The S&P 500 (Symbol: SPY) sank 1.3% and the Nasdaq (Symbol: QQQ) slid 2.1%.
- Facebook (Symbol: FB) — Facebook shares fell 4.9% after a company whistleblower unveiled her identify and accused the social media giant of a “betrayal of democracy.” The whistleblower leaked documents to The Wall Street Journal and Congress, revealing Facebook executives were aware of negative impacts of its platforms on young people.
- Ford Motor (Symbol: F) — Ford’s stock rallied 1.3% after the automaker’s U.S. vehicle sales showed signs of improvement during the third quarter. Sales improved from losses of more than 30% in July and August, to 17.7% in September. Ford still saw year-over-year sales fall by 27.4%, but the decline was narrower than forecasted.
- General Motors (Symbol: GM) — General Motors shares gained roughly 1.6% after activist firm Engine No. 1 announced an investment in the automaker. The hedge fund said it supported GM’s advancements in the electric vehicle space. Engine No. 1 gained prominence earlier this year by successfully placing three climate-focused independent directors on Exxon Mobil’s board.
- Moderna (Symbol: MRNA), Novavax (Symbol: NVAX), Merck (Symbol: MRK) — Shares of the two Covid-19 vaccine makers declined for a second trading day after Merck’s new Covid antiviral pill showed positive results in a clinical trial. Moderna fell nearly 4.5%, while Novavax slid 1.8%. Merck rallied 2.1%.
- Dupont de Nemours (Symbol: DD) — The materials stock rose 1.5% after JPMorgan upgraded DuPont to overweight from neutral. The investment firm said DuPont should beat earnings expectations in 2022 and 2023.
- Union Pacific (Symbol: UNP) — The railroad stock rose 1.9% after Barclays upgraded Union Pacific to overweight from equal weight. The investment firm said in a note that the railroad industry should rebound in 2022 as supply chain issues are worked out, raising U.S. shipping demand.
During Premarket hours today – Tuesday – 05.10.2021:
- Ocugen (Symbol: OCGN) – The developer of gene therapy treatments soared 10.7% in the premarket after it announced joint development and supply agreements involving its Covid-19 vaccine candidate and its treatment for dry age-related macular degeneration.
- PepsiCo (Symbol: PEP) – The snack and beverage giant beat estimates by 6 cents a share, with quarterly earnings of $1.79 per share. Revenue beat Street forecasts as well. PepsiCo also raised its annual revenue forecast as the easing of pandemic restrictions boosts sales at restaurants and movie theaters.
- Facebook (Symbol: FB) – Facebook staged a modest rebound following a nearly 5% drop Monday, rising 1.1% in premarket action. Monday’s decline came in the wake of a “60 Minutes” whistleblower report as well as a six-hour outage that impacted all of Facebook’s services.
- Veoneer (Symbol: VNE) – Veoneer agreed to be acquired by investment firm SSW Partners for $37 per share, with SSW then selling the auto tech firm’s sensor and driving platform business to Qualcomm (QCOM). Veoneer had agreed in July to be bought by Canadian auto supplier Magna International (MGA) for $31.25 per share.
- Duckhorn Portfolio (Symbol: NAPA) – Duckhorn Portfolio reported quarterly profit of 8 cents per share, well above the 1 cent a share consensus estimate. The Calfornia-based wine producer’s revenue also topped Wall Street forecasts. Duckhorn Portfolio issued a better-than-expected full-year earnings outlook as well. Its shares rose 2.2% in premarket trading.
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