During Market hours on Yesterday (Monday – 09.01.2023):
- The Dow (Symbol: DIA) went down -0.29%. The S&P 500 (Symbol: SPY) lost -0.06%. and the Nasdaq (Symbol: QQQ) rose +0.65%.
- Tesla (Symbol: TSLA) — Shares of Tesla rose +5.93% Monday after CEO Elon Musk’s attorneys on Saturday asked a California court to move a trial over the company stock to Texas, citing local negativity.
- Advanced Micro Devices (Symbol: AMD) — The chip giant jumped +5.13% as semiconductor stocks led the Monday’s rally. The advanced pushed the stock above its 50-day moving average. Wells Fargo named AMD a top pick in the semi sector Monday.
- Nvidia (Symbol: NVDIA) — The chip stock rallied +5.18% in midday trading. Earlier in the day, Nvidia was named a top pick for 2023 by Wells Fargo analysts, who said they see a positive data center product cycle materializing through the end of the year.
- Uber (Symbol: UBER) — Uber shares gained +3.79% on an upgrade from Piper Sandler to overweight from a neutral rating. The firm said that rising inflation and car prices should boost desire for ride sharing.
- Goldman Sachs (Symbol: GS) — Shares gained +1.41% following reports that the banking giant is laying off 3,200 employees, or 6.5% of the workforce it had in October. That is fewer than the 8% reported last month.
- Teladoc (Symbol: TDOC) — Shares of Teladoc jumped +4.13% after the company announced that its revenue in the fourth quarter of 2022 exceeded analyst expectations – it’s slated to report in a narrower range of $633 million to $640 million above consensus of $631 million.
During Premarket hours today (Tuesday – 10.01.2023):
- Boeing (Symbol: BA) — The aerospace giant fell more than -2% after Morgan Stanley downgraded Boeing to equal weight from overweight, citing a lack of potential upside from current levels. “We see a balanced risk reward as the majority of the near- and medium-term positive catalysts for the stock have been realized,” Morgan Stanley said in a note.
- Norwegian Cruise Line (Symbol: NCLH) — Shares dropped -3.3% after a downgrade to underweight from equal weight by Morgan Stanley, which cited concerns over how overcapacity could hurt pricing power. Meanwhile, the firm upgraded competitor Royal Carribean, which added 0.3% in the premarket, to equal weight from underweight.
- Bumble (Symbol: BMBL) — Bumble popped more than +3% after KeyBanc upgraded the dating app stock to overweight from sector weight, noting: “The competitive environment appears stable, and economic pressures are easing.”
*Any information contained in this article, including any information contained in external third party links, if any, is solely for informational purposes and does not contain, or should not be construed as containing, investment advice or an investment recommendation, or, an offer of or solicitation for any transactions in financial instruments. Past performance does not guarantee or predict future performance. Colmex Pro Ltd does not take into account your personal investment objectives or financial situation and makes no representation, and assumes no liability to the accuracy or completeness of the information provided, nor for any loss arising from any investment based on presented information.