During Market hours on Yesterday (Monday – 12.12.2022):
- The Dow (Symbol: DIA) went up +1.57%. The S&P 500 (Symbol: SPY) gained +1.44%. and the Nasdaq (Symbol: QQQ) rose +1.26%.
- Weber (Symbol: WEBR) – Shares of the grill manufacturer jumped +23.2% after the company announced a deal to be taken private by BDT Capital Partners. BDT will purchase Weber for $8.05 per share, according to the announcement.
- Coupa Software (Symbol: COUP) – The maker of business spending management software jumped +26.7% after the private-equity firm Thoma Bravo agreed to buy the company in an all-cash deal worth $8 billion, or $81 per share.
- Under Armour (Symbol: UA) – The athletics apparel stock jumped +9.1% following an upgrade to buy from hold by Stifel. The firm cited Under Armour’s “better margin certainty” and management of inventory among its reasons for the upgrade.
- Boeing (Symbol: BA) – Shares of the aircraft maker jumped +3.8% after the Economic Times reported over the weekend that Air India is close to signing an order to acquire up to 150 737 Max jets.
- Rivian (Symbol: RIVN) – The electric vehicle stock shed more than -6.1% on news that it’s pausing plans to make electric vans in Europe in conjunction with Mercedes-Benz. Rivian CEO RJ Scaringe said the company is pursuing “the best risk-adjusted returns” on its capital investments, which includes focusing on its consumer and existing businesses. News of the agreement with the automobile maker was first announced in September.
- Box (Symbol: BOX) – The software-as-a-service company gained +7.4% after JPMorgan upgraded the stock to overweight from neutral, arguing it is outperforming other technology names and can continue doing so going forward.
- Tesla (Symbol: TSLA) – Shares of Tesla fell -6.3% after a YouGov survey showed that negative views of the electric vehicle maker have overtaken positive ones just slightly. Tesla’s brand has deteriorated after CEO Elon Musk took over Twitter.
During Premarket hours today (Tuesday – 13.12.2022):
- Oracle (Symbol: ORCL) – Oracle gained +3% in the premarket after the business software giant posted top and bottom line beats for its latest quarter. Oracle continues to make significant progress in shifting more of its business to the cloud.
- Boeing (Symbol: BA) – Boeing rose +2.2% in premarket action after United Airlines (Symbol: UAL) announced a 200-jet order that includes 100 787 Dreamliners and 100 737 Max jets, with options for further purchases. The order is worth $43 billion at list prices.
- Moderna (Symbol: MRNA) – The drugmaker announced that its experimental melanoma vaccine combined with Merck (Symbol: MRK) cancer treatment Keytruda cut the risk of skin cancer recurrence by 44% compared with a treatment of only Keytruda. Moderna rallied +7.5% in the premarket, while Merck gained +1.9%.
- First Solar (Symbol: FSLR) – First Solar rose +1.1% in premarket trading following news that it will replace Fortune Brands Home & Security (Symbol: FBHS) in the S&P 500. Fortune Brands is spinning off a division and will then replace First Solar in the S&P MidCap 400.
- Mirati Therapeutics (Symbol: MRTX) – Mirati Therapeutics surged +8.6% in premarket trading after the drugmaker’s new lung cancer treatment adagrasib received Food and Drug Administration approval.
- Pinterest (Symbol: PINS) – Pinterest was upgraded to “overweight” from “neutral” at Piper Sandler, which believes the image-sharing website operator can expand its profit margins. Pinterest rose +2.8% in premarket action.
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