During Market hours on Yesterday (Monday – 28.11.2022):
- The Dow (Symbol: DIA) went down -1.46%. The S&P 500 (Symbol: SPY) lost -1.60%. and the Nasdaq (Symbol: QQQ) fell -1.47%.
- Apple (Symbol: AAPL) — Apple shares fell -3.89% following a report that iPhone production could take a big hit due to unrest at a Foxconn factory in China, amid protests in China against the nation’s zero-Covid policy. Analysts have expressed concern about recent manufacturing interruptions ahead of the holiday season too.
- DraftKings (Symbol: DKNG) — Shares dropped -4.23% after JPMorgan downgraded DraftKings to underweight from neutral, saying in a note that the company’s competitors are more likely to achieve online sports betting profitability.
- Tyson Foods (Symbol: TSN), Beyond Meat (Symbol: BYND) — Shares of Tyson Foods fell -2.67%, and Beyond Meat slumped -2.44%, after Barclays downgraded both companies to underweight, noting that the worst is yet to come for protein companies.
- First Solar (Symbol: FSLR) — The solar stock shed -3.39% following a downgrade to neutral from JPMorgan. The bank said shares are due for a breather after rallying more than 150% following the passage of the Inflation Reduction Act.
- Twilio (Symbol: TWLO) — Twilio slid -3.69% after the stock was downgraded by Jeffries to hold from buy. The firm said it sees “sustained headwinds” the communications tool and messaging company.
- Pinduoduo (Symbol: PDD) — Shares of Pinduoduo jumped +12.62% after the e-commerce platform posted third-quarter results that beat analyst expectations. “We continued to deepen our value creation in the third quarter,” CEO Lei Chen said. “We will increase our R&D investment to further enhance the supply chain efficiency and agricultural digital inclusion.”
During Premarket hours today (Tuesday – 29.11.2022):
- United Parcel Service (Symbol: UPS) — UPS gained +1.4% in the premarket after Deutsche Bank upgraded the delivery service’s stock to “buy” from “hold.” The move reverses last year’s downgrade, with Deutsche Bank saying the concerns that prompted the downgrade at that time — including the macroeconomic environment and an impending labor negotiation — are now fully reflected in the stock’s price.
- Bilibili (Symbol: BILI) — Bilibili surged +10.3% in the premarket after the China-based internet company reported better-than-expected profit and revenue for its latest quarter. The company’s daily and monthly active users increased by 25% over a year earlier.
- HSBC (Symbol: HSBC) — HSBC struck a deal to sell its Canadian unit to the Royal Bank of Canada for $10.1 billion in cash. HSBC jumped +4.3% in premarket trading.
- Roku (Symbol: ROKU) — Roku shares fell -2.9% in premarket action after KeyBanc downgraded the video streaming device company’s stock to “sector weight” from “overweight,” saying several facets of its bullish thesis on Roku failed to play out.
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