During Market hours yesterday – (Monday – 11.10.2021):

  • The Dow (Symbol: DIA) fell 0.7%. The S&P 500 (Symbol: SPY) sank 0.7% and the Nasdaq (Symbol: QQQ) slid 0.8%.
  • Energy stocks – Oil stocks rose Monday as futures for West Texas Intermediate crude traded above $81 per barrel, though many later came off their session highs as the broader market rolled over. Shares of Halliburton (Symbol: HAL) climbed 3%. Diamondback Energy (Symbol: FANG) rose as much as 3% but closed slightly into the green. Solar stocks also moved higher, with Sunrun (Symbol: RUN) and Enphase Energy (Symbol: ENPH) jumping more than 4%.
  • Freeport-McMoRan (Symbol: FCX) – Shares surged 3% and were among the biggest gainers in the S&P 500 midday. The stock’s jump came amid a rally in the energy and industrials sector and a pop in copper prices.
  • Retailers – Apparel makers’ shares fell after cotton prices hit a 10-year high Friday of $1.16 per pound. Gap (Symbol: GPS) and Levi Strauss (Symbol: LEVI) lost 4%. Ralph Lauren (Symbol: RL) shares slid by 1.5%.
  • Charter (Symbol: CHTR), Comcast (Symbol: CMCSA) – Both cable stocks fell Monday after Raymond James downgraded them to market perform. Comcast lost more than 4% and Charter slipped 1.5%.
  • SoFi Technologies (Symbol: SOFI) — Shares of the online personal finance company surged more than 13% after Morgan Stanley initiated coverage with an overweight rating. The Wall Street firm is bullish on SoFi’s student loan refinancing business and said the potential approval of SoFi’s bank charter application is another possible catalyst for a boost.
  • Aspen Technology (Symbol: AZPN) — The industrial software maker’s stock jumped 12% after it announced a deal with Emerson Electric to merge with two of its software businesses. The cash-and-stock deal is valued at about $160 per share.
  • Cleveland-Cliffs (Symbol: CLF) — Shares of Cleveland-Cliffs gained more than 4% after the steel producer announced it would acquire Ferrous Processing and Trading, a scrap metal company. The acquisition will mark Cleveland-Cliffs’ entrance into the scrap business.
  • DraftKings (Symbol: DKNG) — Shares of the sporting betting company popped about 2% after Citi initiated coverage with a buy rating. The Wall Street firm said the company is the “market leader” in betting.
  • Southwest Airlines (Symbol: LUV) — The air carrier’s stock price slid more than 4% after it canceled more than 2,000 flights over the weekend, blaming air traffic control issues, bad weather and its own staffing shortage.

During Premarket hours today – (Tuesday – 12.10.2021):

  • CureVac (Symbol: CVAC) – The drugmaker’s shares tumbled 15.5% in the premarket after the company said it would discontinue the development of its most advanced Covid-19 vaccine candidate. The decision came after the European Medicines Agency told the company it would not fast-track the approval process.
  • Signet Jewelers (Symbol: SIG) – The jewelry retailer announced the acquisition of rival Diamonds Direct for $490 million in cash, and said the deal would add immediately to earnings.
  • Fastenal (Symbol: FAST) – The industrial products maker matched estimates with quarterly earnings of 42 cents per share, with revenue essentially in line with forecasts. Fastenal said it continued to experience inflation related to materials and transportation costs.
  • Moderna (Symbol: MRNA) – Moderna added 1% in premarket trading, ahead of Thursday’s Food and Drug Administration panel meeting on the company’s application for approval of booster shots utilizing its Covid-19 vaccine. Briefing documents are scheduled to be posted this morning, shedding some light on the prospects for approval.

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