During Market hours yesterday – (Monday – 08.11.2021):
- The Dow (Symbol: DIA) went up 0.3%. The S&P 500 (Symbol: SPY) rose 0.1% and the Nasdaq (Symbol: QQQ) fell 0.15%.
- Live Nation Entertainment (Symbol: LYV) — Shares of the entertainment company took a 5.3% dip after at least eight people died and dozens were injured at a Travis Scott concert over the weekend. Live Nation, the show’s promoter, has reportedly been named a defendant in lawsuits related to the event.
- Advanced Micro Devices (Symbol: AMD) — Shares of the semiconductor company surged about 10% after it announced it has won Meta, formerly known as Facebook, as a chip customer. It also revealed a range of new chips during its Accelerated Data Center Premiere Keynote Monday.
- Tesla (Symbol: TSLA) — Shares of the electric vehicle giant slid nearly 5% after CEO Elon Musk asked his millions of Twitter followers if he should sell 10% of his stock in the company. In a Twitter poll launched Saturday, Musk said: “Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock. Do you support this?” About 58% of respondents voted for “Yes.”
- Occidental Petroleum (Symbol: OXY) — The energy stock rose 2.5% as oil climbed on Monday. The passage of the U.S. infrastructure bill has raised optimism about oil demand remaining strong in the coming years.
- Autolus Therapeutics (Symbol: AUTL) — The biotech stock surged 25%, pushing its market cap to $500 million, after Blackstone said it would invest up to $250 million in Autolus. The investment will help the company build on a treatment for leukemia, the companies said in a release, and includes $150 million in product financing.
- Coty (Symbol: COTY) — Beauty company Coty soared about 15% after reporting better-than-expected quarterly results, according to estimates from StreetAccount. Coty also announced it will sell more of its stake in hair care company Wella to KKR.
- Canopy Growth (Symbol: CGC) — The cannabis company’s shares jumped more than 10% as investors bought the early morning dip on two downgrades from Cowen and Canaccord Genuity. Those followed a revenue miss by Canopy, which reported fiscal second-quarter results last week.
- Peloton (Symbol: PTON) — Peloton shares fell nearly 8%, extending their decline from the prior week. Last Friday, the company’s stock dropped more than 35% on weakening sales growth and a wider-than-expected loss in its fiscal first quarter.
During Premarket hours today – (Tuesday – 09.11.2021):
- General Electric (Symbol: GE) — Shares of GE rallied more than 7% in the premarket after the company announced it will split up into three publicly traded entities focused on aviation, health care and energy. GE said it will spin off its healthcare unit by early 2023 and energy unit by early 2024.
- Palantir (Symbol: PLTR) — Palantir shares dipped 2% in the premarket even after the software and data analytics company’s third-quarter revenue beat the Wall Street forecast. The company reported revenue of $392 million versus $385 million expected, according to Refinitiv. Palantir’s earnings per share were in line with estimates.
- Roblox (Symbol: RBLX) — Roblox shares surged more than 25% in early morning trading after better-than-expected quarterly results. The online gaming platform reported revenue of $637.8 million versus $636.5 million expected from Wall Street analysts, according to Refinitiv.
- TripAdvisor (Symbol: TRIP) — TripAdvisor shares fell more than 8% premarket after the travel-booking company missed Wall Street expectations for its third-quarter financial results. The company earned an adjusted 16 cents per share on $303 million in revenue. Analysts surveyed by Refinitiv expected the company to earn 24 cents per share on $304 million in revenue.
- PayPal (Symbol: PYPL) — PayPal shares fell more than 4% premarket after the digital payments company reported quarterly results. The company’s revenue of $6.18 billion fell short of the Refinitiv consensus estimate of $6.23 billion. PayPal also issued a fourth-quarter forecast that fell short of analysts’ expectations and provided disappointing guidance for next year.
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