During Market hours yesterday – (Monday – 28.02.2022)

  • The Dow (Symbol: DIA) went down 0.35%. The S&P 500 (Symbol: SPY) lost 0.3% and the Nasdaq (Symbol: QQQ) gained 0.3%.
  • Defense stocks — Defense stocks rose as the conflict between Russia and Ukraine continued on Monday and European countries pledged to spend more on defense. Northrop Grumman (Symbol: NOC) climbed 7.9%, while Raytheon Technologies (Symbol: RTX) gained 4.6%, and General Dynamics (Symbol: GD) added 2.8%. Lockheed Martin (Symbol: LMT), which was also upgraded to to outperform from peer perform by Wolfe Research, rose 6.6%.
  • Block (Symbol: SQ) — Shares of fintech company Block rose 6.4% after an upgrade to outperform from BMO Capital Markets. The company said investors have an opportunity to pick up shares of Block at a growth-at-a-reasonable-price level after the stock’s pullback.
  • Renewable Energy Group (Symbol: REGI) — Shares of Renewable Energy Group surged 40.3% after Chevron said it would buy the biodiesel maker in an all-cash deal valued at $3.15 billion. Chevron (Symbol: CVX)  gained 2.5%.
  • First Horizon (Symbol: FHN) — Shares of the Memphis-based bank surged 28.6% following news that the company will be acquired by TD in an all-cash deal worth $13.4 billion, or $25 per share, a move that will allow the Canadian banking giant to expand its footprint in the southeastern part of the U.S.
  • Healthcare Trust of America (Symbol: HTA) — Shares of the health-care-centered real estate investment trust fell 5.3% following news that it will merge with rival Healthcare Realty in a deal with an implied value of $35.08 per share. Healthcare Realty shares dropped 11.1%.

During Premarket hours today – (Tuesday – 01.03.2022)

  • Target (Symbol: TGT) — Shares of the big-box retailer rallied 11% in premarket trading after Target said it expects growth to continue even after its pandemic-era gains. Target posted adjusted fourth-quarter earnings of $3.19 per share on revenue of $31 billion. Analysts surveyed by Refinitiv expected a profit of $2.86 per share on revenue of $31.39 billion.
  • Kohl’s (Symbol: KSS) — Shares of Kohl’s rose more than 5% in the premarket after the company gave upbeat guidance for fiscal year 2022. The retailer beat earnings expectations in the fourth quarter but missed the Refinitiv consensus sales estimate.
  • Workday (Symbol: WDAY) — Shares of Workday rose more than 7% in premarket trading after the software company beat expectations for its quarterly results. The company reported a profit of 78 cents per share, topping the Refinitiv estimate of 71 cents per share. Revenue also surpassed projections.
  • Lucid Group (Symbol: LCID) — Shares of Lucid Group tanked more than 12% premarket after a disappointing quarterly report. The electric vehicle maker reported a wider-than-expected loss of 64 cents per share compared with the Refinitiv consensus estimate loss of 25 cents per share. Revenue also missed expectations.
  • Novavax (Symbol: NVAX) — Shares of Novavax fell 6.6% premarket after the company missed on the top and bottom line of its quarterly report. Novavax posted a loss of $11.18 per share on revenue of $222.2 million.

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