During Market hours yesterday – (Monday – 10.01.2022):

  • The Dow (Symbol: DIA) went down 0.42%. The S&P 500 (Symbol: SPY) lost 0.12% and the Nasdaq (Symbol: QQQ) earned 0.07%.
  • Moderna (Symbol: MRNA) — Moderna shares jumped 9.2% after the company’s CEO said Monday that it’s working on a booster that targets the omicron variant of Covid-19 “with public health leaders around the world,” targeting a fall rollout. The booster will enter clinical trials soon, he added.
  • Tilray (Symbol: TLRY) — The cannabis stock surged 13.5% after the company reported an unexpected quarterly profit. Tilray said its revenue increased by about 20% from a year earlier on stronger demand for cannabis products.
  • Beam Therapeutics (Symbol: BEAM) — Beam, the gene-editing company, saw its shares fall 2.7% following news about a partnership with Pfizer. The two will collaborate to develop therapies for rare genetic diseases. Pfizer shares rose slightly.
  • Airbnb (Symbol: ABNB) — Shares of Airbnb retreated 3.2% after Piper Sandler downgraded the stock to a neutral rating from overweight. The firm also cut its price target on the stock. Piper Sandler said travel patterns should return to pre-pandemic trends in 2022 and consumers are more interested in traditional lodging and air service companies.
  • Crypto stocks — Crypto-related stocks fell sharply on Monday as the price of bitcoin briefly tumbled to its lowest point since September. Coinbase (Symbol: COIN) declined 3.1% while Silvergate Capital (Symbol: SI) lost 4%. MicroStrategy (Symbol: MSTR) fell slightly and Block (Symbol: SQ) slid 3.8% before bouncing back. The moves come amid a broader sell-off in risky assets as the 10-year U.S. Treasury yield climbed.

During Premarket hours today – (Tuesday – 11.01.2022):

  • Illumina (Symbol: ILMN) — Illumina issued a 2022 revenue outlook that exceeded consensus analysts’ estimates, noting strong demand for its gene sequencing treatments as well as new partnerships with four health care companies. Illumina jumped 4.1% in the premarket.
  • Rivian (Symbol: RIVN) — Rivian fell 3.5% in premarket trading following news that its Chief Operating Officer Rod Copes had left the electric truck maker.
  • Intel (Symbol: INTC) — Intel named Micron Technology (Symbol: MU) Chief Financial Officer David Zinsner as its new CFO, effective next Monday. At the same time, the chipmaker announced the departure of client computing group head Gregory Bryant at the end of January. Intel rose 1.7% in the premarket, while Micron was down 1%.
  • IBM (Symbol: IBM) — IBM shares fell 2.3% in the premarket after UBS downgraded it to “sell” from “neutral,” citing risks to operating results as well as what it feels is an “elevated valuation.”
  • CVS Health (Symbol: CVS) — The drug store operator and pharmacy benefits manager raised its full-year earnings outlook, now expecting a profit of $8.33 to $8.38 per share. That compares to a prior outlook of “at least” $8.00 per share and a current consensus estimate of $8.03 per share. CVS rose 1.1% in the premarket.

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