During Market hours Yesterday — (Thursday – 07.04.2022):
- The Dow (Symbol: DIA) went up 0.35%. The S&P 500 (Symbol: SPY) gained 0.50% and the Nasdaq (Symbol: QQQ) earned 0.24%.
- HP (Symbol: HPQ) — Warren Buffett’s Berkshire Hathaway became the largest shareholder in the computer hardware company, sending shares up 16.4%. Berkshire Hathaway bought nearly 121 million shares, or about an 11% stake worth roughly $4.2 billion based on Wednesday’s closing.
- Lamb Weston Holdings (Symbol: LW) — Shares soared 8% after the food processing company reported quarterly earnings. Lamb Weston showed profit of 73 cents per share, beating consensus estimates of 44 cents. It reported revenues of $955 million, compared to analyst estimates of $969 million.
- Constellation Brands (Symbol: STZ) — The stock jumped 4.3% after the producer of beer, wine and spirits reported an earnings beat. Constellation saw earnings of $2.37 per share and revenues of $2.1 billion. Analysts expected earnings of $2.10 per share and revenues of $2.02 billion.
- JD.com (Symbol: JD) — News that founder Richard Liu stepped down from the CEO position sent shares down 4%. Liu will remain on as chair. Company President Xu Lei will take over as CEO.
- Costco (Symbol: COST) — The big-box retail chain jumped 3.2%, a day after it reported robust same-store sales in March, which jumped 17.2% in the last five weeks ending April 3.
- Ford (Symbol: F) — The automaker dropped 5.2% after Barclays downgraded Ford to equal weight from overweight. The ongoing semiconductor shortage will keep Ford from rebounding after a rough start to 2022, Barclays said in a note to clients.
During Premarket hours today – (Friday – 08.04.2022):
- Spirit Airlines (Symbol: SAVE) – Spirit said it will begin talks with JetBlue (Symbol: JBLU) about its rival’s $3.6 billion takeover bid. Spirit had agreed earlier this year to be taken over by Frontier Airlines parent Frontier Group (Symbol: ULCC) but said the JetBlue offer could lead to a “superior proposal.” Spirit rose 1.4% in premarket trading, while JetBlue added 1% and Frontier jumped 2.5%.
- WD-40 (Symbol: WDFC) – WD-40 surged 9.5% in the premarket following better-than-expected quarterly earnings and revenue. The lubricant maker earned $1.41 per share for the quarter, 40 cents above estimates, although it cut its full-year guidance slightly due to inflationary challenges.
- Designer Brands (Symbol: DBI) – The footwear and accessories retailer raised its full-year earnings outlook and reinstated its quarterly dividend after a two-year pause. The upbeat forecast comes ahead of the company’s annual investor day. Designer Brands stock jumped 4.6% in the premarket.
- CrowdStrike (Symbol: CRWD) – CrowdStrike rallied 3.7% in premarket action after the cloud computing company received authorization to protect critical assets of the U.S. Department of Defense.
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