During Market hours Yesterday — (Monday – 25.01.2021):
The S&P 500 erased earlier losses and rose slightly to a record on Monday as investors prepared for a busy week of earnings featuring reports from the largest tech companies.
- The Dow (Symbol: DIA) went down 0.1%. The S&P 500 (Symbol: SPY) went up 0.4% and the Nasdaq (Symbol: QQQ) rose 0.8%
- GameStop (Symbol: GME) — Shares of the retailer finished with a gain of 18% after several volatility halts as the short squeeze and heavy buying from individual traders continued. The stock was up well over 100% earlier in the session and also briefly traded in negative territory. The early move higher came despite a downgrade to underperform from previously bullish Telsey Advisory Group.
- Bed Bath & Beyond (Symbol: BBBY), AMC Entertainment (Symbol: AMC) — Shares of the pair of stocks closed up 1.6% and 25.9%, respectively, after a volatile trading session, joining the list of equities getting short squeezed by retail investor exuberance. Shares of National Beverage gained 13%, Macerich popped 21% and iRobot gained 17%.
- Carnival Corporation (Symbol: CCL) – Shares of the cruise operator slid 5% after the company provided an update on its future sailings as ships continue to stay docked amid the pandemic. The company said that already-announced dry dock plans for some of its ships will be delayed until November 2021. Carnival also announced, among other things, that sailings from San Diego that were previously available for sale through April 2023 have been cancelled.
- Tesla (Symbol: TSLA) — Shares gained 4% after investment firm Baird hiked its price target on the stock to $728 per share from $488. Baird said in a note to clients that Tesla was “entering the next stage of its evolution.”
- Kimberly-Clark (Symbol: KMB) — The consumer products stock rose 3.3% after reporting better-than-expected results for its fourth quarter. The company reported $1.69 in adjusted earnings per share on revenue of $4.84 billion. Analysts surveyed by Refinitiv expected $1.60 in earnings per share and $4.71 billion of revenue.
- Apple (Symbol: AAPL) — The consumer tech giant rose 2.8% after Wedbush raised its price target on the stock to a new Street high of $175 per share. The firm said in a note that it expected “eye popping” results from Apple in its earnings report on Wednesday. Shares of Apple were up more than 4% earlier in the session, setting a new all-time high.
- TS Innovation Acquisitions Corp. (Symbol: TSIA) — Shares of the blank check company jumped nearly 45% after announcing that it would perform a reverse merger to take real estate software company Latch into the public markets. The deal includes an investment from Social Capital CEO Chamath Palihapitiya. Other notable SPAC moves on Monday included Spartan Acquisition Corp. II and ION Acquisition Corp., which gained 21% and 14%, respectively, after announcing they had found their targets.
During Premarket hours today – (Tuesday – 26.01.2021):
- American Express (Symbol: AXP) – The financial services giant reported fourth-quarter earnings of $1.76 per share, compared to a consensus estimate of $1.31 a share. Revenue matched Wall Street forecasts. Amex suffered a slump in travel and entertainment spending, although a jump in online spending helped offset that slide.
- General Electric (Symbol: GE) – GE shares are jumping in pre-market trading, after its fourth-quarter earnings report showed better-than-expected cash flow for the industrial conglomerate. GE’s earnings came in a penny shy of estimates at 8 cents per share, however, but revenue was ahead of Wall Street forecasts.
- 3M (Symbol: MMM) – 3M beat estimates by 23 cents a share, with quarterly earnings of $2.38 per share. Revenue beat forecasts as well, helped by increased demand for its health-care products such as its N95 masks.
- Johnson & Johnson (Symbol: JNJ) – J&J came in 4 cents a share ahead of estimates, with quarterly earnings of $1.86 per share. Revenue came in ahead of estimates as well. The pharmaceutical and consumer health products maker also gave an upbeat 2021 forecast.
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