During Market hours on Yesterday (Monday – 12.09.2022):

  • The Dow (Symbol: DIA) went up +0.71%. The S&P 500 (Symbol: SPY) gained +1.07%. and the Nasdaq (Symbol: QQQ) rose +1.19%.
  • Twitter (Symbol: TWTR) — Shares of Twitter slipped -2% after the company said in a regulatory filing that Elon Musk’s latest attempt to cancel the deal to buy the social media group is invalid. Most recently, Musk attempted to terminate the purchase citing Twitter’s treatment of a whistleblower.
  • Carvana (Symbol: CVNA) — Carvana surged +7.8% after it was upgraded to overweight from neutral by Piper Sandler. Analyst Alexander Potter called the stock “grossly undervalued” and believes Carvana could double from current levels.
  • Amgen (Symbol: AMGN) — Amgen shares fell -3.7% after the approval of Bristol-Myer Squibb’s psoriasis drug, which will compete with Amgen’s Otezla. Separately, the biotech company reported over the weekend that its Lumakras pill reduced the risk of lung cancer progression by 34% compared with chemotherapy in a clinical trial.
  • Alphatec (Symbol: ATEC) — Shares jumped +10.19% after Morgan Stanley initiated coverage of the medical technology company with an overweight rating. According to the firm, Alphatec outpaces peers and has “significant runway” head for double-digit revenue growth in the spine surgery space.
  • Energy stocks — Rising oil prices helped push energy stocks higher. APA (Symbol: APA) was the biggest winner of the day, jumping more than +5% after Citi upgraded the oil and gas company to buy from neutral. Hess (Symbol: HES) and Marathon Oil (Symbol: MRO) were both up more than +3%, while Devon Energy (Symbol: DVN) rose nearly +4%. Exxon Mobil (Symbol: XOM) was up more than +1%.

During Premarket hours today (Tuesday – 13.09.2022):

  • Rent the Runway (Symbol: RENT) — Shares dropped -23% after the fashion rental company said it’s laying off 24% its corporate workforce. Additionally, Rent the Runway said it’s cutting $25 million to $27 million in fixed costs to deal with an uncertain macro backdrop.
  • Oracle (Symbol: ORCL) — The stock gained +1.6% in premarket trading after Oracle reported revenue that was in line with expectations. Revenue jumped 18% in its most recent quarter from the year-ago period, boosted by a recent acquisition in software maker Cerner.
  • Twitter (Symbol: TWTR) — The social media stock dropped more than -1.5% as a Twitter whistleblower, previously an executive, is set to testify on his claims of security lapses at the company before a U.S. Senate committee on Tuesday. Twitter shareholders are also expected to vote on Elon Musk’s deal to buy the company.

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