During Market hours Yesterday (Thursday – 06.10.2022):

  • The Dow (Symbol: DIA) went down -1.18%. The S&P 500 (Symbol: SPY) lost -1.03%. and the Nasdaq (Symbol: QQQ) fell -0.79%.
  • Compass (Symbol: COMP) — Shares surged +16.1% after Insider reported Vista Equity Partners is considering a deal that would take the real estate technology company private.
  • General Electric (Symbol: GE) — General Electric’s stock shed -1.8% amid news that the company is firing 20% of its onshore wind workforce in the U.S.
  • Conagra (Symbol: CAG) — Conagra’s stock traded -3.7% lower despite a top and bottom line beat in its recent fiscal quarter. The food producer also reaffirmed its outlook for the year.
  • Shell (Symbol: SHEL) — Shares of the energy producer fell -4.4% after the company warned that it expects lower refining margins and weaker earnings from natural gas trading. Shell also cited higher costs for delivering fuel.
  • Silvergate Capital (Symbol: SI) — Shares fell -6.5% after Wells Fargo double downgraded the crypto bank stock to underweight from overweight, citing deposit outflows because of sharply falling cryptocurrency prices.
  • Pinterest (Symbol: PINS) — Shares of the vision board company jumped nearly +5% after Goldman Sachs upgraded the stock to buy from neutral. The analyst said he came away from a recent meeting with senior Pinterest management with increased confidence in user growth and monetization on the platform.
  • Take-Two Interactive (Symbol: TTWO) — The gaming company added +3.5% after Goldman Sachs upgraded Take-Two to a buy rating, saying the recent pullback in the stock create a good entry point for investors.
  • Peloton (Symbol: PTON) — Peloton shares bounced back +4% after the at-home fitness company announced a plan to slash 500 more jobs, or 12% of its workforce, to help steer it back to growth. It was up about 3% midday after falling in the premarket.

During Premarket hours today – (Friday – 07.10.2022):

  • Advanced Micro Devices (Symbol: AMD) – AMD slid -5.3% in the premarket after cutting its sales forecast. The chipmaker said it is being hit by a larger than expected slump in the personal computer market.
  • Levi Strauss (Symbol: LEVI) – Levi Strauss took a -5.3% premarket hit after cutting its full-year sales and profit outlook. The apparel maker is seeing an impact from higher costs, supply chain issues and a stronger U.S. dollar.
  • CVS Health (Symbol: CVS) – CVS shares fell -5% in premarket trading, following a downgrade of one of its Aetna Medicare Advantage plans in annual ratings issued by the Centers for Medicare and Medicaid Services.
  • DraftKings (Symbol: DKNG) – DraftKings rallied +5.6% in premarket action after Bloomberg reported that the sports betting firm is close to striking a major new partnership with Walt Disney’s (Symbol: DIS) ESPN unit.
  • Lyft (Symbol: LYFT) – Lyft fell -2.6% in the premarket after RBC downgraded the ride-hailing service’s stock to “sector perform” from “outperform.” RBC said its driver supply analysis points to a less bullish outlook for Lyft and that competitor Uber (Symbol: UBER) enjoys “structural advantages” over Lyft.
  • Credit Suisse (Symbol: CS) – Credit Suisse rallied +5.6% in the premarket after the bank said it would buy back up to $3 billion in debt as it seeks to reassure investors of its financial health.
  • Aurora Cannabis (Symbol: ACB), Canopy Growth Corp (Symbol: CGC) and Cronos Group (Symbol: CRON) were among cannabis stocks that rallied Thursday after President Joe Biden announced pardons for those convicted of federal marijuana possession charges.

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