During Market hours Yesterday — (Thursday – 02.06.2022):
- The Dow (Symbol: DIA) went up 1.61%. The S&P 500 (Symbol: SPY) surged 2.00% and the Nasdaq (Symbol: QQQ) gained 2.77%.
- Microsoft (Symbol: MSFT) — Shares of Microsoft closed up 0.8% after slipping earlier in session as the company cut its earnings and revenue guidance for the fiscal fourth quarter. Microsoft cited unfavorable foreign exchange rates as the reason for the move.
- Meta Platforms (Symbol: FB) — Facebook’s parent company rose 5.4% after Sheryl Sandberg announced she is leaving her role as chief operating officer. Chief growth officer Javier Olivan will take over the position this fall.
- GameStop (Symbol: GME) — Shares of the video game retailer rallied 10.4% after the company posted its quarterly results. GameStop reported $1.38 billion in revenue in its fiscal first quarter, up slightly from the $1.27 billion it reported in the year-ago quarter. But it also reported a $157.9 million net loss, which is worse than the $66 million net loss in the year-ago quarter.
- Chewy (Symbol: CHWY) — The pet e-commerce company soared 24.2% after reporting an unexpected profit in the previous quarter. Chewy shared earnings of 4 cents per share on $2.43 billion in revenue. Analysts expected a loss of 14 cents per share on $2.42 billion in revenue, according to Refinitiv.
- Generac (Symbol: GNRC) — The generator company’s stock jumped 10.3% after UBS named it a top pick. The investment firm said the downside for Generac’s core business was already priced into the market, and the company’s push into clean energy gave the stock significant upside.
During Premarket hours today – (Friday – 03.06.2022):
- Lululemon (Symbol: LULU) – Lululemon shares rose 1% in premarket trading after the athletic apparel and leisurewear maker reported a better-than-expected quarter and raised its full-year forecast. Lululemon beat estimates by 5 cents with a quarterly profit of $1.48 per share, amid continued strong demand for premium sportswear.
- RH (Symbol: RH) – RH slipped 4% in the premarket after the luxury home goods company issued a weaker-than-expected revenue outlook for the full year. RH reported better-than-expected profit and sales for its latest quarter and announced a $2 billion expansion of its stock buyback program.
- CrowdStrike (Symbol: CRWD) – CrowdStrike fell 4.3% in premarket action even though the cybersecurity company posted better-than-expected results for its latest quarter and issued an upbeat outlook. CrowdStrike stock had surged 7.8% Thursday ahead of the earnings report.
- Tesla (Symbol: TSLA) – Tesla shares slid 4.7% in the premarket following a report that CEO Elon Musk ordered an immediate hiring freeze and a 10% reduction in staff. The order came in a memo seen by Reuters, which quoted Musk as saying he feels “super bad” about the economy.
- Coinbase (Symbol: COIN) – Coinbase is extending a hiring freeze and rescinding some job offers that had been accepted. The cryptocurrency exchange operator said in a blog post that it would pause hiring for “as long as this macro environment requires.” Coinbase fell 3.7% in premarket trading.
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