During Market hours yesterday – (Monday – 31.01.2022):
- The Dow (Symbol: DIA) went up 1.14%. The S&P 500 (Symbol: SPY) gained 1.8% and the Nasdaq (Symbol: QQQ) earned 3.2%.
- Tesla (Symbol: TSLA) — Tesla shares surged 10.7% after Credit Suisse upgraded the stock to outperform from neutral. The firm said the pullback in technology stocks this month has created a buying opportunity. “With robust fundamentals ahead and with the stock having been caught in the market decline, we believe the stock should recover,” Credit Suisse said.
- Spotify (Symbol: SPOT) — Shares of the streaming platform are on watch after influential podcaster Joe Rogan apologized to Spotify amid a boycott over his content. Neil Young and Joni Mitchell pulled their music from Spotify after the company continued to host “The Joe Rogan Experience,” which medical professionals have called out for spreading Covid misinformation. The stock also received an upgrade from Citi. Spotify shares surged more than 13.5%.
- Netflix (Symbol: NFLX) – Shares of Netflix jumped 11.1% after Citi upgraded the stock to buy from neutral, saying that the streaming service has ample pricing power to weather high inflation, and that prevailing equity values don’t reflect material subscriber growth prospects beyond 2023.
- Beyond Meat (Symbol: BYND) – The alternative meat stock surged 15.2% on Monday following a double upgrade from Barclays. The investment firm said that Beyond Meat’s partnership with restaurant chains should help it stand out in a competitive industry.
- Boeing (Symbol: BA) – Shares of Boeing popped 5.1% after the aircraft maker won an order from Qatar Airways on Monday. The airline signed a provisional order for 25 737 Max 10 jets.
- Align Technology (Symbol: ALGN) — Shares of the dental company popped 6.7% in trading after Morgan Stanley initiated coverage of Align Technology as overweight. “ALGN is well positioned in the fastest-growing segment of the Dental market with its leading position in clear aligners,” the firm said. The bank gave the stock a $575 per share price target.
- Enphase Energy (Symbol: ENPH) — Enphase Energy shares surged 13.4% after the company, which makes microinverters and backup energy storage for solar systems, announced an expansion of battery storage in Massachusetts.
- BlackBerry (Symbol: BB) – BlackBerry shares added 4.4% after the communications software company announced a deal to sell its legacy patents for $600 million. The noncore patent assets include mobile devices, messaging and wireless networking. Catapult, a special purpose vehicle, was formed to acquire the BlackBerry patents.
During Premarket hours today – (Tuesday – 01.02.2022):
- AT&T (Symbol: T) — AT&T announced plans to spin off its stake in the WarnerMedia/Discovery Communications (Symbol: DISCA) combination to its shareholders when that merger is completed later this year. Shareholders will receive 0.24 shares of Warner Brothers Discovery for each AT&T share they now own. AT&T also said it would pay an annual dividend of $1.11 per share after the deal is complete, compared to the current $2.08. AT&T fell 3.5% in the premarket.
- AMC Entertainment (Symbol: AMC) — The movie theater operator’s stock rallied 4.7% in the premarket after announcing better than expected preliminary results for the fourth quarter. AMC said its results improved as 2021 progressed and that the quarter was its strongest in two years.
- United Parcel Service (Symbol: UPS) — UPS shares surged 7.4% in the premarket after beating estimates with its quarterly results, issuing upbeat guidance and announcing a 49% dividend increase. UPS earned an adjusted $3.59 per share for the fourth quarter, compared to a consensus estimate of $3.10. Following the upbeat UPS results, rival Fedex (Symbol: FDX) added 2.5% in the premarket.
- Exxon Mobil (Symbol: XOM) — The energy giant earned $2.05 per share for the fourth quarter, beating the $1.93 consensus estimate, though revenue fell below Wall Street forecasts. Exxon also announced a new $10 billion stock buyback program, resuming repurchases for the first time in more than five years. Its shares gained 1.3% in the premarket.
- New York Times Co. (Symbol: NYT) — The newspaper publisher announced a deal to buy the popular daily word game Wordle for an unspecified amount that the paper said is “in the low seven figures.” The Times will eventually move the game to its website and apps. New York Times fell 1.3% in premarket trading.
*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.