During Market hours yesterday – (Monday – 07.02.2022):
- The Dow (Symbol: DIA) went up 0.01%. The S&P 500 (Symbol: SPY) went down 0.32% and the Nasdaq (Symbol: QQQ) lost 0.8%.
- Peloton (Symbol: PTON) — Shares of the exercise bike maker soared 20.9% after reports that Amazon and Nike expressed interest in buying the company. The reports come a few days after activist investor Blackwells Capital urged Peloton’s board to consider a sale of the company. Still, CNBC reported that all talks are preliminary, and Peloton has yet to kick off a formal sales process.
- Hasbro (Symbol: HAS) — Hasbro shares fell 1% even after the toymaker beat Wall Street estimates for its latest quarterly report. Hasbro posted per-share earnings of $1.21, well above the 88 cents a share Refinitiv consensus estimate.
- Tyson Foods (Symbol: TSN) — Shares of Tyson jumped 12.2% after a better-than-expected earnings report. The beef and poultry producer reported earnings of $2.87 per share, beating earnings estimates. Higher meat prices helped boost profit.
- Ford (Symbol: F) — Ford shares dipped 0.5% after announcing Friday it will suspend or cut production at eight of its North American factories due to the global semiconductor shortage.
- Spotify (Symbol: SPOT) — Spotify was on watch again after a compilation video of the company’s biggest podcasting star Joe Rogan using a racial slur circulated on social media. CEO Daniel Ek apologized to Spotify employees for the controversy with Rogan. Shares fell 1.7%.
- Snowflake (Symbol: SNOW) — Shares of Snowflake jumped 6.3% after Morgan Stanley upgraded the data storage stock to overweight from equal weight. The firm said Snowflake is undervalued after the stock’s roughly 30% fall from its high and has quality growth.
- Netflix (Symbol: NFLX) — The streaming stock fell 2% after Needham analyst Laura Martin reiterated an underperform rating on the stock. She said Netflix must consider drastic measures to “win the ‘streaming wars,’” such as adding a cheaper ad-supported tier and even selling itself.
During Premarket hours today – (Tuesday – 08.02.2022):
- Peloton (Symbol: PTON) — Peloton tumbled 2% in premarket trading in contrast to yesterday’s jump.
- Novavax (Symbol: NVAX) — Novavax sank 8.8% in the premarket after Reuters reported that the drugmaker has delivered only a small fraction of the 2 billion Covid-19 vaccine doses it had planned to send around the world.
- Pfizer (Symbol: PFE) — Pfizer shares fell 3.8% in the premarket after reporting a revenue miss for its latest quarter and issuing a weaker-than-expected full-year forecast. Pfizer reported better-than-expected earnings for the fourth quarter, however, and also raised its full-year forecast for sales of its Covid-19 vaccine.
- Harley-Davidson (Symbol: HOG) — Harley shares surged 7% after the motorcycle maker reported an unexpected profit for its latest quarter as well as better-than-expected revenue. Harley earned 14 cents per share, compared to forecasts of a 38 cents per share loss, as demand jumped for its more expensive motorcycles.
- Take-Two Interactive (Symbol: TTWO) — The video game maker’s stock fell 2.1% in premarket trading after it issued a weaker-than-expected outlook. Take-Two also missed estimates for “net bookings” for its most recent quarter, representing sales of products and services digitally and in stores.
- Nvidia (Symbol: NVDA) — Nvidia will not go ahead with its $66 billion purchase of Softbank’s chip designer Arm. The two companies said the deal – which would have been the largest chip industry deal ever – faced “significant regulatory challenges.” Softbank said it would now plan to take Arm public. Nvidia fell 2% in premarket action.
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