During Market hours yesterday — Monday (16.11.2020):
U.S. stocks rose on Monday after preliminary coronavirus vaccine data from Moderna further lifted expectations of a strong economic recovery.
- The Dow (Symbol: DIA) went up 1.6%. The S&P 500 (Symbol: SPY) closed 1.2% higherand the Nasdaq (Symbol: QQQ) popped 0.8%.
- Moderna (Symbol: MRNA) The drugmaker’s stock soared more than 9% after announcing preliminary phase three trial data shows its coronavirus vaccine is more than 94% effective in preventing Covid-19. Moderna is the second U.S. company in a week to report positive results from its coronavirus trial.
- Simon Property (Symbol: SPG), Taubman Centers (Symbol: TCO) Shares of Simon and Taubman rose 5.7% and 8.4%, respectively, after both companies announced they had revised the terms of their merger. Simon will pay $43 per share for Taubman Centers under the new agreement, down from an original price of $52.50 per share. Both companies also said they settled previously pending litigation.
- HD Supply (Symbol: HDS), Home Depot (Symbol: HD) HD Supply shares rallied more than 24% after Home Depot agreed to buy back the wholesaler of industrial goods for about $8 billion, or $56 per share in cash. The deal values HD Supply at a near 25% premium of Friday’s close of $44.81 per share.
- Tilray (Symbol: TLRY) The cannabis stock fell 4.3% after Jefferies downgraded Tilray to underperform from hold. The firm said in a note that the “share price has run up on retail US market FOMO” and that valuation was stretched too far.
- BBVA (Symbol: BBVA), PNC Financial (Symbol: PNC) BBVA shares popped more than 12% after PNC Financial agreed to buy the Spanish bank’s U.S. operations for $11.6 billion. BBVA Group Executive Chairman Carlos Torres Vila said the deal was a “very positive transaction for all sides” and enhanced the Spanish group’s “already strong financial position.”
- Virgin Galactic (Symbol: SPCE) Shares of the space tourism company dropped 6.2% after Virgin Galactic announced that it had indefinitely delayed its next spaceflight test. The company operates out of Spaceport America in New Mexico, which has tightened economic restrictions to slow the spread of Covid-19.
- Palo Alto Networks (Symbol: PANW) The stock gained 7.7% following the release of company’s first-quarter earnings results. The cybersecurity company earned $1.62 per share on an adjusted basis, which was ahead of the $1.33 per share profit analysts surveyed by Refinitiv had expected. The company also topped revenue expectations and raised its full-year earnings and revenue forecast.
- JD.com (Symbol: JD) Shares of the Chinese online retailer fell more than 7% even after the company reported better-than-expected earnings and revenue for the previous quarter. JD.com earned 3.42 yen per share on revenue of 174.2 billion yen. Analysts polled by Refinitiv expected a profit of 2.65 yen per share on revenue of 170.2 billion yen.
- Casper Sleep (Symbol: CSPR) Casper Sleep reported a wider-than-expected loss for the third quarter along with disappointing revenue, sending the stock down 14%. The company reported a loss of 40 cents per share on revenue of $124 million. Analysts expected a loss of 33 cents per share on revenue of $146 million.
During Premarket hours today – Tuesday (17.11.2020):
- Walmart (Symbol: WMT) The retail giant earned $1.34 per share for the third quarter, compared to a consensus estimate of $1.18a share. Revenue beat forecasts as well.
- Tesla (Symbol: TSLA) Tesla will join the S&P 500 prior to the open of trading on Dec. 21. It’s among the highest-valued companies ever to enter the benchmark index, and its current market cap of about $387 billion makes it more valuable than 95% of the companies currently in the S&P 500.
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