During Market hours on Yesterday (Monday – 07.11.2022):
- The Dow (Symbol: DIA) went up +1.32%. The S&P 500 (Symbol: SPY) gained +0.96%. and the Nasdaq (Symbol: QQQ) rose +1.10%.
- Meta Platforms (Symbol: META) — Shares of Facebook owner Meta jumped +6.53% following a Wall Street Journal report over the weekend saying the company could start mass layoffs as soon as Wednesday. The layoffs could impact thousands of employees, according to the Journal. The company said it had 87,000 employees as of the end of September.
- Walgreens Boots Alliance (Symbol: WBA) — The drugstore chain’s stock gained +4.1% after it said it would invest $3.5 billion to support VillageMD’s acquisition of urgent care provider Summit Health. Walgreens raised its fiscal year 2025 sales goal for its U.S. health-care business to $14.5 billion to $16.0 billion, from $11.0 billion to $12.0 billion to account for the deal.
- Berkshire Hathaway (Symbol: BRK.B) — Shares of Warren Buffett’s conglomerate rose about +1% after the company posted a 20% increase in operating profits during the third quarter. Berkshire also spent $1.05 billion in share repurchases during the quarter. The Omaha-based company suffered a $10.1 billion loss on its investments during the third quarter’s market turmoil, however.
- Palantir (Symbol: PLTR) — Palantir’s stock dropped -11.48% after the company’s third-quarter earnings missed analyst estimates, although it beat on revenue. In response to the software company’s report, Citi said it sees “further downside to PLTR with fast decelerating growth” as well as continued uncertainty around government spending.
- Ryanair (Symbol: RYAAY) — Shares of the international airline traded up +3.32% after the company reported record after-tax profit for the first six months ending in September.
During Premarket hours today (Tuesday – 08.11.2022):
- Take-Two Interactive (Symbol: TTWO) — Take-Two tanked -17.4% in the premarket after the videogame publisher cut its bookings outlook for the year. Take-Two has been impacted by weaker mobile and in-game sales, although CEO Strauss Zelnick said the situation should improve within the next three to six months.
- Lyft (Symbol: LYFT) — Lyft sank -17.3% in premarket action after its latest quarterly report showed slowing revenue growth and ridership levels that remain below pre-pandemic levels. The ride-hailing service did, however, report better-than-expected earnings for its latest quarter.
- TripAdvisor (Symbol: TRIP) — TripAdvisor shares plummeted -20.8% in premarket trading after the travel website operator’s quarterly earnings came in below Wall Street forecasts. TripAdvisor said currency fluctuations had a meaningful negative impact on revenue and that travel demand remains strong.
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