During Market hours yesterday – (Monday – 11.04.2022)
Below some of the most representative highlights:
- The Dow (Symbol: DIA) went down 1.20%. The S&P 500 (Symbol: SPY) lost 1.71% and the Nasdaq (Symbol: QQQ) went down 2.37%.
- AT&T (Symbol: T) — Shares of AT&T jumped 7.5% after the telecom giant announced that it closed its transaction with Discovery to spin off its WarnerMedia business. The combined company is called Warner Bros. Discovery. It began trading on the Nasdaq on Monday under the new ticker symbol WBD. JPMorgan also assigned an overweight rating to AT&T.
- Nvidia (Symbol: NVDA) — Nvidia’s stock fell 5.2% after Baird downgraded the chipmaker to neutral from outperform, citing concerns about order cancellations driven in part by a slowdown in consumer demand for PCs.
- SailPoint Technologies (Symbol: SAIL) — The cybersecurity company saw shares soar 29.2% after announcing Monday it will be acquired by private-equity firm Thoma Bravo for $6.9 billion, or $65.25 per share. The all-cash deal is expected to close in the second half of 2022.
- Occidental Petroleum (Symbol: OXY) — Energy stocks were among the top decliners in the S&P 500, as oil prices dropped amid fears Covid lockdowns in China would depress global demand. Occidental Petroleum fell 6.3%.
- Microsoft (Symbol: MSFT), Apple (Symbol: AAPL) — Shares of tech giants were lower Monday as the 10-year Treasury yield climbed to its highest level since January 2019. Microsoft lost 3.9%, while Apple 2.6%.
- Coinbase (Symbol: COIN) — Shares of the cryptocurrency services company fell 4.4% as the price of bitcoin dropped to its lowest level since March amid a broader sell-off in risk assets. Coinbase’s stock price is tied closely to the price of bitcoin since so much of its revenue being derived from trading fees.
- JetBlue (Symbol: JBLU) — Shares of the airline gained 1.1% after the company said it’s cutting back its summer schedule in an effort to avoid flight disruptions, as it works to ramp up hiring this summer to meet a surge in travel demand.
During Premarket hours today – (Tuesday – 12.04.2022)
- Hewlett Packard Enterprise (Symbol: HPE) — The enterprise computing company’s stock slid 3.5% in premarket trading after Morgan Stanley downgraded the stock to “underweight” from “equal weight” as part of an overall downgrade of the telecom and networking equipment industry. Morgan Stanley sees softening orders in the second half of 2022.
- Crowdstrike (Symbol: CRWD) — Crowdstrike jumped 3.6% in premarket action following a Goldman Sachs upgrade to “buy” from “neutral.” Goldman thinks the cloud computing company has shown strong execution while demand continues to ramp higher.
- Chegg (Symbol: CHGG) — Chegg slid 4% in the premarket after KeyBanc Capital Markets downgraded the stock to “sector weight” from “overweight.” KeyBanc is predicting a downtick in U.S. growth trends for the provider of educational products and services.
- Cisco Systems (Symbol: CSCO) — Citi downgraded Cisco to “sell” from “neutral,” saying that networking equipment competitors Juniper Networks (JNPR) and Arista Networks (ANET) are poised to gain market share from Cisco. The stock lost 2.6% in premarket trading.
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