During Market hours yesterday – (Monday – 13.12.2021):
- The Dow (Symbol: DIA) went down 0.9%. The S&P 500 (Symbol: SPY) sank 0.9% and the Nasdaq (Symbol: QQQ) added 1.4%.
- Harley-Davidson (Symbol: HOG) — Shares of the motorcycle maker jumped about 7% after the company announced its electric motorcycle unit, Livewire, will go public through a merger with a special purpose acquisition company, or SPAC. The deal is valued at about $1.8 billion and will trade on the New York Stock Exchange under the ticker symbol “LVW.”
- Pfizer (Symbol: PFE) — Shares of the vaccine maker jumped more than 4% after a new Israeli study showed its Covid booster shot provides strong protection against severe illness from the omicron variant. Its partner BioNTech saw shares jump about 8.2% on the news. Separately, the company announced it will acquire drug developer Arena Pharmaceuticals for $6.7 billion in cash. Arena’s shares soared by 79%.
- Meme stocks — Speculative stocks that were once popular with retail investors on Reddit slid as traders bailed from their risky positions. GameStop’s (Symbol: GME) shares cratered 12.7% in midday trading, while AMC Entertainment (Symbol: AMC) lost 15.8%. Bed Bath & Beyond (Symbol: BBBY) fell 6.3%.
- SVB Financial Group (Symbol: SIVB) — Shares of the financial services company and parent of Silicon Valley Bank fell more than 3% after it announced it would acquire tech equity research firm MoffettNathanson to expand its investment banking capabilities.
- Bristol-Myers Squibb (Symbol: BMY) — The biopharmaceutical company saw shares rise 3.8% after it announced a dividend increase of 10.2% over last year’s quarterly rate, as well as an additional $15 billion share repurchase authorization.
- Halliburton (Symbol: HAL), Exxon Mobil (Symbol: XOM) — Shares of the energy companies fell after Iraq’s energy minister said they’re in talks over the potential sale of Exxon’s stake in the West Qurna-1 oil field in southern Iraq, Bloomberg reported Monday. Halliburton’s shares fell 5.3%, while Exxon’s shares lost 1.8%.
- Coca-Cola (Symbol: COKE) — Shares of the beverage company gained more than 2% after JPMorgan upgraded the stock to an overweight rating. The firm expects top-line momentum to build into 2022 driven by the ongoing economic reopening following the pandemic, and noted that the stock’s current valuation is compelling both on a historical basis and relative to peers.
- Travel stocks — Stocks related to travel and the economic reopening were lower Monday amid continued fear and anxiety around the omicron variant of Covid-19. United and American Airlines (Symbol: AAL) fell more than 5%. Carnival (Symbol: CCL) lost 5.4%, and Royal Caribbean Cruises (Symbol: RCL) dropped about 4.8%. Hotel chains Marriott (Symbol: MAR) and Hilton (Symbol: HGV) were 4% and 2.5% lower, respectively.
During Premarket hours today – (Tuesday – 14.12.2021):
- Beyond Meat (Symbol: BYND) – The maker of plant-based meat substitutes saw its stock jump 4.8% in premarket action, putting it in a position to break a 3-day losing streak. Piper Sandler upgraded the stock to “neutral” from “underweight,” saying a nationwide launch at McDonald’s (MCD) could happen within less than 3 months.
- Pfizer (Symbol: PFE) – The drugmaker said a final study of its antiviral Covid-19 pill showed it to be 89% effective in preventing hospitalizations and deaths in high-risk patients, similar to what earlier studies had shown. It added that the drug appears to be effective against the omicron variant.
- Weibo (Symbol: WB) – Weibo slid 5.3% in the premarket after the China-based social networking company was fined 3 million yuan (about $471,000) by regulators, who said some of Weibo’s accounts and content violated various laws and regulations.
- Terminix Global (Symbol: TMX) – The pest control company’s shares soared 21.9% in the premarket after it agreed to be acquired by British rival Rentokil for $6.7 billion in cash and stock.
- Neogen (Symbol: NEOG) – The food safety company’s stock surged 12.1% in premarket trading after it announced a deal to combine itself with the food safety division of 3M (MMM).
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