During Market hours yesterday – (Monday – 14.02.2022)

As global concerns continued to unnerve investors, the SPX500 and DJ30 dipped in Yesterday’s trade, while the NASDAQ100 climbed somewhat. Below some of the most representative highlights:

  • The Dow (Symbol: DIA) went down 0.40%. The S&P 500 (Symbol: SPY) lost 0.33% and the Nasdaq (Symbol: QQQ) gained 0.12%.
  • Weber (Symbol: WEBR) — Shares of the grill maker tumbled 8.7% midday after the company missed Wall Street estimates in its latest quarterly report, but closed up 1.5%. Weber posted a loss of 19 cents per share, versus the Refinitiv consensus 7-cent loss. Revenue also missed forecasts.
  • Rivian (Symbol: RIVN) — The electric truck maker’s stock rose 6.5% after Soros Fund Management reported it bought nearly 20 million shares during the fourth quarter. The stake was worth about $2 billion at the time of purchase, although its value has fallen to about $1.17 billion.
  • 3M (Symbol: MMM) — Shares fell about 1% after the respirator manufacturer said demand for medical masks is expected to wane this year. Bloomberg on Sunday also reported the company’s legal woes add up to a $33 billion discount to 3M’s peers.
  • Splunk (Symbol: SPLK) — Shares of the cloud software company jumped 9.1% after the Wall Street Journal reported Cisco Systems made a more than $20 billion takeover bid, citing people familiar with the matter. A deal of that size would represent the networking equipment maker’s largest-ever acquisition.
  • Aerojet Rocketdyne (Symbol: AJRD) — The stock fell 5.6% after defense contractor Lockheed Martin abandoned a $4.4 billion acquisition of the rocket motor builder. Federal regulators had sued to block the transaction in January due to concerns that the combination would be anti-competitive.
  • Tyson Foods (Symbol: TSN) — Shares dropped 3.2% on Monday after Barclays downgraded the animal protein stock to equal weight from overweight. The firm said that strong results for beef and chicken sales were already priced into the stock.

During Premarket hours today – (Tuesday – 15.02.2022)

  • Monster Beverage (Symbol: MNST), Constellation Brands (Symbol: STZ) — Merger talks between Monster Beverage and Constellation Brands are progressing, according to people familiar with the matter who spoke to Bloomberg. Those people say an agreement between the two companies could be reached within weeks if the talks go smoothly. Constellation gained 2.2% in the premarket while Monster Beverage rallied 3.1%.
  • Arista Networks (Symbol: ANET) — Arista Networks reported quarterly earnings of 82 cents per share, 9 cents a share above estimates. The networking software and services company’s revenue topped Wall Street forecasts as well. Arista also issued an upbeat forecast, helping its shares surge 10% in the premarket.
  • Marriott (Symbol: MAR) — Marriott shares jumped 3% in the premarket after the hotel operator beat top- and bottom-line forecasts for its latest quarter. Marriott earned $1.30 per share, 31 cents a share above estimates as occupancy rates increased amid a rise in vaccinations.
  • Zoetis (Symbol: ZTS) — Zoetis was up 3% in premarket trading on better-than-expected quarterly results. Zoetis beat estimates by 4 cents a share, with quarterly earnings of $1.00 per share as improvement in its pet products business offset tepid results for livestock product sales.
  • Tower Semiconductor (Symbol: TSEM) — Intel (Symbol: INTC) announced a deal to buy the Israeli chipmaker for $53 per share, or $5.4 billion, a 60% premium over Tower’s Monday closing price. Tower makes chips for a wide variety of industries including medical, automotive and consumer products. Tower Semiconductor soared 44.6% in premarket action, while Intel added 1.6%.
  • Advance Auto Parts (Symbol: AAP) — Advance Auto Parts beat estimates by 10 cents a share, with quarterly profit of $2.07 per share. The auto parts retailer’s revenue also beat analysts’ forecasts. Advance Auto’s sales were higher than a year before, but profit was lower as it dealt with inflationary headwinds. Shares fell 1% in premarket action.
  • Intuit (Symbol: INTU) — Intuit lowered its current-quarter forecast as tax season gets off to a slow start. The maker of the popular TurboTax software maintained its full-year forecast, however, suggesting the company believes revenue was simply be pushed to a later quarter. Intuit fell 1% in premarket trading.

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