During Market hours Yesterday — (Monday – 23.08.2021):
- The Dow (Symbol: DIA) gained 0.65%. The S&P 500 (Symbol: SPY) jumped 0.88% and the Nasdaq (Symbol: QQQ) raised 1.50%.
- Boeing (Symbol: BA)— Shares of Boeing jumped 3.16% after Virgin Orbit, a satellite-launching spinoff of Sir Richard Branson’s Virgin Galactic, announced it will go public at a $3.7 billion valuation. Boeing is set to invest in the deal’s private investment in public equity round. Virgin Orbit is combining with special purpose acquisition company NextGen Acquisition Corp. II (Symbol: NGCA), which saw its shares gain 1.9% after the news.
- Pfizer (Symbol: PFE), BioNTech (Symbol: BNTX)— Shares of the drugmakers rose on Monday after the Food and Drug Administration granted full approval to the Pfizer and BioNTech Covid-19 vaccine – becoming the first in the U.S. to win the coveted designation. Shares of Pfizer rose 2.48% and BioNTech surged 9.6%. Shares of Moderna (Symbol: MRNA) rose 7.55% in hopes that the approval will pave the way for the company’s own approval.
- General Motors (Symbol: DIA)— Shares of the automaker ticked 1.27% lower after General Motors expanded the recall of its Chevy Bolt electric car on Friday. It will include newer models, a move which will cost the automaker an additional $1 billion. The recall will address an issue that can increase the risk of battery fires.
- Occidental Petroleum (Symbol: OXY), Devon Energy (Symbol: DVN) — Energy stocks gained after oil prices jumped on Monday, snapping a seven-day losing streak that crude’s longest since 2019. Occidental Petroleum rose 6.9%, Devon Energy added 6.1%, Diamondback Energy (Symbol: FANG) gained 5.9% and Marathon Oil (Symbol: MRO) increased 5.4%.
- Robinhood (Symbol: HOOD)— Robinhood shares jumped 6.2% despite bearish calls on the newly public brokerage stock from Wall Street analysts. Many investment firms initiated coverage of Robinhood on Monday with neutral or equal weight ratings, and the stock even received a rare underweight rating from JPMorgan’s Kenneth Worthington.
- Didi Global (Symbol: DIDI)— The Chinese ride-hailing app’s shares gained 3.35% despite Beijing’s probe into the company. The Financial Times reported that Didi may be forced to hand over shares containing special rights to the Chinese government and the company may be asked to lower the commissions it takes from drivers.
- Tesla (Symbol: TSLA)— Shares of Tesla jumped 3.8% after Deutsche Bank reiterated its buy rating on the electric vehicle maker. The firm said Tesla’s Artificial Intelligence day last week has set forth a “bold vision” and analysts “came away with greater appreciation for Tesla’s efforts in AI.”
- Abercrombie & Fitch (Symbol: ANF)— The retail apparel stock added 2.26% after Tesley reiterated its outperform rating on Abercrombie & Fitch, seeing “margin expansion” ahead. The company is set to report earnings later this week.
During Premarket hours today – (Tuesday – 24.08.2021):
- Best Buy (Symbol: BBY) – Best Buy shares rallied 4.3% in the premarket after the electronics retailer beat estimates on the top and bottom lines for the second quarter. Best Buy earned $2.98 per share, compared to a $1.85 a share. consensus estimate. Comparable-store sales rose a better-than-expected 19.6%.
- Palo Alto Networks (Symbol: PANW) – Palo Alto Networks surged 11.9% in the premarket, after being estimates by 16 cents a share, with quarterly earnings of $1.60 per share. The cybersecurity company’s revenue was also above estimates, and it issued an upbeat outlook as well.
- Camping World (Symbol: CWH) – The maker of RVs and other recreational products announced it would double its quarterly dividend to 50 cents per share from 25 cents a share, payable on September 28 to shareholders of record on September 14. Camping World shares rallied 6% in premarket trading.
- Advance Auto Parts (Symbol: AAP) – The auto parts retailer reported quarterly profit of $3.40 per share, beating the consensus estimate of $3.04 a share. Revenue came in slightly above forecasts. Comparable-store sales grew 5.8%, slightly shy of the 6% consensus estimate. Advance Auto raised its full-year forecast for overall sales and for comparable-store sales growth. Its shares fell 1% in premarket action.
- Medtronic (Symbol: MDT) – The medical device maker beat estimates by 9 cents a share, with quarterly profit of $1.41 per share. Revenue also topped consensus estimates, helped by a rebound in demand as patients underwent non-urgent procedures that had been delayed by the pandemic. Medtronic added 1.8% in the premarket.
- Cigna (Symbol: CI) – The insurance company’s shares rose 1.1% in premarket trading after it announced a $2 billion accelerated stock repurchase agreement.
- Didi Global (Symbol: DIDI) – Didi Global climbed 3.9% in the premarket, extending Monday gains on reports that it would suspend plans to launch its ride-hailing service in the U.K. and continental Europe.
- Las Vegas Sands (Symbol: LVS), Wynn Resorts (Symbol: WYNN) – Las Vegas Sands rallied 2.6% in premarket action, with Wynn Resorts up 2.5%. The casino operators are trading higher following the easing of travel curbs in Macau, amid an improving outlook for Covid-19 cases.
- Cara Therapeutics (Symbol: CARA) – The drugmaker’s stock soared 19.8% in premarket trading after it received Food and Drug Administration approval for its Korsuva injection, designed to treat a kidney disease-related condition known as pruritis.
- Netflix (Symbol: NFLX) – The video streaming service’s stock remains on watch after rising for the past seven sessions and gaining 8.4% over that stretch.
- JD.com (Symbol: JD), Alibaba (Symbol: BABA), Baidu (Symbol: BIDU), Pinduoduo (Symbol: PDD) – Investors are scooping up China-based tech stocks, in a rebound from a slump that followed the implementation of new rules for tech companies by the Beijing government. JD.com jumped 7.7% in the premarket, with Alibaba up 4.7%, Baidu up 4.2% and Pinduoduo rising 4.6%. Pinduoduo had been higher earlier but pared gains after reporting lower-than-expected revenue for its latest quarter.
*Any information contained in this article, including any information contained in external third party links, if any, is solely for informational purposes and does not contain, or should not be construed as containing, investment advice or an investment recommendation, or, an offer of or solicitation for any transactions in financial instruments. Past performance does not guarantee or predict future performance. Colmex Pro Ltd does not take into account your personal investment objectives or financial situation and makes no representation, and assumes no liability to the accuracy or completeness of the information provided, nor for any loss arising from any investment based on presented information.