During Market hours yesterday — (Thursday – 07.01.2021):

Stocks rose to all-time highs on Thursday as Congress confirmed the election of Joe Biden as president and traders looked past the unrest in Washington.

  • The Dow (Symbol: DIA) went up 0.7% , the S&P500 (Symbol: SPY) grew 1.5% and the Nasdaq (Symbol: QQQ) also grew 2.4%
  • Roku (Symbol: ROKU) – Needham’s Laura Martin, a top media analyst on Wall Street, upped her price target on Roku to $400 from $315, helping shares rise 10.6%.
  • Sunrun (Symbol: RUN) – Shares of the solar company jumped 6.8% to hit a new all-time high as renewable energy stocks rallied on the heels of Democrats taking the Senate. SunPower (Symbol: SPWR) , Sunnova (Symbol: NOVA) and Enphase Energy (Symbol: ENPH) were each up more than 4.5% as well.
  • Bed Bath & Beyond (Symbol: BBBY)— The retailer tanked nearly 11% after fiscal third-quarter results missed on the top and bottom lines. Bed Bath & Beyond reported adjusted earnings of 8 cents per share on revenue of $2.62 billion. Analysts expected earnings of 19 cents per share on revenue of $2.75 billion, according to Refinitiv.
  • Walgreens Boots Alliance (Symbol: WBA)— The drug store popped more than 5% after Walgreens beat on the top and bottom lines of its quarterly results, helped by stronger-than-expected pharmacy sales. Walgreens reported earnings of $1.22 per share on revenue of $36.31 billion. Analysts expected earnings of $1.03 per share on revenue of $34.95 billion, according to Refinitiv.
  • JPMorgan Chase (Symbol: JPM)— Shares rose more than 3% after an analyst at Bank of America upgraded the banking stock to buy from neutral. The analyst said JPMorgan was “uniquely better-positioned” to benefit from the consumer picking up spending, higher long-term rates and “the potential return of travel and restaurant spend.”
  • Teladoc (Symbol: TDOC) — Shares of the telehealth company jumped 12% after BTIG initiated coverage of the stock with a buy rating. The investment firm said in a note that it expects Teladoc’s volumes to continue to grow even after the pandemic.
  • 3M  (Symbol: MMM)— Shares dropped 2.6% after Bank of America downgraded the multinational conglomerate to neutral from buy. The Wall Street firm cited regulation risks surrounding PFAS, or per- and polyfluoroalkyl substances. The bank believes a Democrat-controlled Senate could accelerate legislation and regulation around PFAS contamination, which would hurt 3M’s margins.
  • Constellation Brands (Symbol: STZ) — The beverage and cannabis stock gained 2.3% after Constellation’s fiscal third quarter results beat Wall Street expectations. The company reported $3.09 in adjusted earnings per share on $2.44 billion in revenue. Analysts surveyed by Refinitiv were expecting $2.39 in earnings per share and $2.23 billion in revenue.
  • CureVac (Symbol: CVAC)— Shares of the German pharmaceutical company jumped 16.5% after it struck a deal with Bayer to help develop CureVac’s Covid-19 vaccine candidate.
  • DXC Technology (Symbol: DXC) — The IT consulting firm jumped 9.3% as French rival Atos made an unsolicited takeover offer. Reuters reported that the offer is worth more than $10 billion.

During Premarket hours today – (Friday – 08.01.2021):

  • Tesla (Symbol: TSLA) – Tesla remains on watch after rising for 10 sessions in a row, surpassing Facebook (Symbol: FB) in market value, and making CEO Elon Musk the world’s richest person.
  • Micron Technology (Symbol: MU) – Micron reported quarterly earnings of 78 cents per share, 7 cents a share above estimates. The chipmaker’s revenue also topped Wall Street forecasts.
  • Boeing (Symbol: BA) – Boeing reached a $2.5 billion settlement with the Justice Department, in which it admits employees misled regulators about safety issues that preceded two fatal crashes involving the 737 Max jet.

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