During Market hours yesterday – (Monday – 15.11.2021):
- The Dow (Symbol: DIA) went down 0.01%. The S&P 500 (Symbol: SPY) rose 0.03% and the Nasdaq (Symbol: QQQ) fell 0.02%.
- Boeing (Symbol: BA)— Shares of the jet maker jumped 5.5% after a company executive said Sunday it’s “getting close” to resuming deliveries of its 787 Dreamliner, after suspending them to deal with production issues. He did not specify timing, but said it depends on the results of ongoing talks with regulators.
- Dollar Tree (Symbol: DLTR)— Shares of the discount retail chain jumped 14.3% after Dollar Tree revealed the activist investor Mantle Ridge has built a more than 5% stake in the company. Deutsche Bank upgraded the stock to buy following the news, saying the activist could unlock value for shareholders.
- Oatly (Symbol: OTLY)— Shares of the oat milk producer plunged 20.8% after the company warned about pandemic challenges. Oatly said it is experiencing issues related to various Covid-related restrictions. However, the company posted a narrower-than-expected loss for the latest quarter, losing 7 cents per share versus the 10 cents a share loss anticipated by analysts, according to Refinitiv.
- EVgo (Symbol: EVGO)— Shares of the electric vehicle charging company dipped 14.3% after Credit Suisse cut the stock to a neutral rating. In a note to clients the firm said that upside from the infrastructure bill is already priced in following shares’ more than 70% rally in November.
- WeWork (Symbol: WE)— Shares of WeWork popped 3.4% after the company announced third-quarter earnings, the company’s first report since going public in October. Total revenue for the quarter was $661 million, up 11% from the previous quarter, WeWork said. The company also saw a loss of $4.54 per share. That’s an improvement from the loss of $5.51 per share in the year-ago quarter.
- Warner Music Group (Symbol: WMG)— Warner Music Group shares declined 6.2% after the company missed on analysts’ earnings expectations. The company posted quarterly earnings of 5 cents per share, 10 cents lower than the Refinitiv consensus.
- Vita Coco (Symbol: COCO)— Shares of the coconut water company soared 21.2% in midday trading after Goldman Sachs initiated coverage of the stock with a buy rating, saying the trend toward coconut water should continue and that a potential decrease in shipping costs should improve Vita Coco’s profitability outlook. Goldman set a price target of $22 per share for Vita Coco.
- 23andMe (Symbol: ME)— 23andMe declined 11.5% after Citi downgraded shares of the genetic testing company to neutral from buy. Citi said 23andMe’s current valuation was “too rich” and “leaves little room for upside.”
During Premarket hours today – (Tuesday – 16.11.2021):
- Rackspace Technology (Symbol: RXT) – Rackspace beat estimates by a penny a share, with quarterly earnings of 25 cents per share. The cloud computing company’s revenue also topped Wall Street forecasts. It was Rackspace’s eighth consecutive quarter of revenue growth, and the company said it was well-positioned in a booming market.
- Axon Enterprise (Symbol: AXON) – Axon soared 23.5 % in premarket trading, after the maker of Tasers, body cameras and other public safety equipment reported much-better-than-expected sales and revenue for its latest quarter.
- Home Depot (Symbol: HD) – The home improvement retailer reported third-quarter profit of $3.92 per share, 52 cents a share above estimates. Revenue also beat Street forecasts. Comparable-store sales were up a better-than-expected 6.1%, driven by demand for household tools and building materials.
- Walmart (Symbol: WMT) – Walmart jumped 2% in premarket trading after beating on the top and bottom lines, and raising its full-year forecast. Walmart earned $1.45 per share for the third quarter, 5 cents a share above estimates, with comparable-store sales topping forecasts as well.
- Advance Auto Parts (Symbol: AAP) – Advance Auto earned $3.21 per share for its latest quarter, beating the $2.87 a share consensus estimate. The auto parts retailer beat on revenue and other key metrics. Advance Auto said it was seeing higher-than-expected inflation headwinds, however, and the stock fell 2% in premarket action.
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