During Market hours Yesterday (Monday – 12.04.2021):
- Nasdaq (Symbol: QQQ) lost 0.13%. The S&P 500 (Symbol: SPY) went up 0.04%. The Dow (Symbol: DIA) slid 0.09%.
- Tesla (Symbol: TSLA)— Shares of Tesla popped 3.7% after Canaccord Genuity upgraded the stock to buy, citing Tesla’s battery innovations. Canaccord also hiked its 12-month price target on Tesla to $1,071 per share from $419 per share. The new target implies a nearly 60% rally for the electric carmaker.
- Nuance Communications (Symbol: NUAN)— Nuance’s share price rallied 15.95% after Microsoft announced that it will buy the speech recognition company for $56 per share, about 23% above where its stock closed on Friday. The deal, another sign Microsoft is looking to grow via acquisitions, is valued at about $16 billion and about $19 billion including debt.
- Uber (Symbol: UBER)—Shares of the ride hailing giant rose 3.05% after posting record gross bookings in the month of March. Uber said its mobility segment, or ride-hailing business, posted its best month since March 2020, with an annualized run rate of $30 billion. That was up 9% from a month earlier.
- Alibaba (Symbol: BABA)— The U.S.-traded shares of the Chinese internet giant jumped 9.27% after Chinese regulators hit the company with a $2.8 billion fine. The fine amounts to roughly 4% of Alibaba’s 2019 revenue. The action is part of broader scrutiny of internet companies by Chinese regulators.
- United Airlines (Symbol: UAL)— Shares of the airline slumped 3.88% after United Airlines announced that it expected to report $3.2 billion in first-quarter revenue, down 66% from the same quarter in 2019. According to FactSet, Wall Street analysts were expecting $3.35 billion.
- Chipotle (Symbol: CMG)– The chain restaurant’s share price rose 0.53% after Raymond James upgraded the stock to outperform from market perform.
- Qualcomm (Symbol: QCOM)– The chip stock fell 2.2% after Evercore ISI downgraded the company to in line from outperform.
- Plug Power (Symbol: PLUG)— Morgan Stanley resumed coverage of the hydrogen fuel cell company as equal weight, sending shares down 8.1%. The Wall Street firm said it sees “modest” stock price upside for Plug Power.
During Premarket hours today – (Tuesday – 13.04.2021):
- Altimeter Growth (Symbol: AGC) — Southeast Asia’s ride-hailing giant Grab is going public via a SPAC merger with Altimeter Growth, valued at nearly $40 billion. Grab says it intends to list on the Nasdaq under ticker symbol “GRAB” following the deal’s completion. Altimeter’s shares surged nearly 9% in premarket trading.
- Johnson & Johnson (Symbol: JNJ) — Shares of the drugmaker fell 2.8% in the premarket after the Food and Drug Administration said it is asking states to pause administering J&J’s Covid-19 vaccine after six people in the U.S. developed a rare disorder involving blood clots. The FDA said the recommendation is “out of an abundance of caution.”
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