During Market hours yesterday — (Monday – 14.06.2021):

  • The Nasdaq (Symbol: QQQ) rose 0.7%. The S&P 500 (Symbol: SPY) gained 0.2% . The Dow (Symbol: DIA) slipped 0.3%.
  • Lordstown Motors (Symbol: RIDE) — The electric truck maker’s stock fell 18.8% after announcing CEO Steve Burns and CFO Julio Rodriguez resigned. The moves came just days after Lordstown said it had substantial doubt about its ability to continue as a going concern due to challenges funding the production of its vehicles.
  • Oatly (Symbol: OTLY) — Shares of the oat milk company dipped 4.7% after a number of Wall Street firms began coverage of the stock. JPMorgan slapped a neutral rating on the company, saying competition is set to increase in the space. Morgan Stanley rated the company equal weight, with Oppenheimer initiating coverage with a perform rating. Other firms, however, are bullish, with Jefferies, Credit Suisse and Piper Sandler putting a buy-equivalent rating on the stock. Shares of Oatly are still up more than 15% for the month.
  • Square (Symbol: SQ) — Shares of the payments company rose 5.3% after Deutsche Bank reiterated its buy rating on the stock. “SQ has morphed into a two-sided financial ecosystem that continues to expand total addressable market and beat expectations and we see continued momentum on the horizon,” Deutsche Bank told clients.
  • Philips (Symbol: PHG) — Philips shares dropped about 4% after the Dutch medical equipment company issued a recall of ventilators and sleep apnea machines. The company determined that a type of foam used in the devices could degrade and be toxic to users.
  • Reddit favorites — Movement in stocks popular on Reddit’s WallStreetBets forum continued on Monday after weeks of volatile trading. AMC Entertainment (Symbol: AMC)  surged about 15.4%, and ContextLogic (Symbol: WISH) jumped 12.7%. Clean Energy Fuels (Symbol: CLNE) increased 3.4%. Meanwhile, Bed Bath & Beyond (Symbol: BBBY) fell 5.5%, GameStop (Symbol: GME) dipped 1.7%, and Clover Health (Symbol: CLOV) lost 2.5%.

During Premarket hours today – (Tuesday – 15.06.2021):

  • Vroom (Symbol: VRM) – Vroom intends to offer $500 million in convertible senior notes due in 2026. The used-vehicle e-commerce platform provider plans to use the proceeds for a variety of corporate purposes as well as investing in or acquiring new technologies. Its shares slid 6.1% in premarket trading.
  • Ping Identity (Symbol: PING) – Ping Identity announced a 6 million share common stock offering, in a sale of shares held by investment funds affiliated with Vista Equity Partners. The identity management solutions company will not receive any proceeds from the offering. The stock tumbled 4.2% in premarket action.
  • Sage Therapeutics (Symbol: SAGE) – The drugmaker’s shares tanked 17.5% in premarket trading following the release of study results for Sage’s experimental depression drug. The treatment resulted in a statistically significant improvement in symptoms, although it could take up to six weeks to be effective and treatment may be required for months.
  • AstraZeneca (Symbol: AZN) – AstraZeneca said an experimental monoclonal antibody treatment did not meet its main goal of preventing Covid-19 in patients who had been exposed to the virus. The company also said, however, that its Covid-19 vaccine is 92% effective against the so-called “Delta” variant of the virus.
  • Intuit (Symbol: INTU) – The financial software company revealed in an SEC filing that its QuickBooks online service saw new customer acquisition grow by more than 25% year-over-year for the nine months ended April 30. Intuit shares had hit an all-time high in Monday’s trading.

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