During Market hours Yesterday (Thursday – 10.03.2022):

Yesterday, US markets tumbled as new inflation numbers reignited concerns about monetary policy tightening. According to the most recent US CPI inflation report, prices are rising at a rate of 7.9% per year. Below some of the most representative highlights:

  • The Dow (Symbol: DIA) went down 0.39%. The S&P 500 (Symbol: SPY) lost 0.45% and the Nasdaq (Symbol: QQQ) dropped 1.11%.
  • Amazon (Symbol: AMZN) — Amazon shares jumped 5.4% after the company said its board of directors has approved a 20-for-1 stock split, telling investors on Wednesday that they’ll receive 20 shares for each share they currently own. The board also approved a $10 billion share buyback program.
  • CrowdStrike (Symbol: CRWD) — Shares for the cybersecurity company gained 12.5%, after it disclosed strong quarterly profit and revenue in its earnings report Wednesday. CrowdStrike also has an upbeat forecast for the 2023 fiscal year, saying it will pursue market share as cybersecurity concerns rise.
  • SolarEdge Technologies (Symbol: SEDG), Sunrun (Symbol: RUN), Enphase (Symbol: ENPH) — The three solar stocks declined as a group, after the sector rallied earlier in the week from rising oil and gas prices. SolarEdge slid 3.6%, Sunrun dipped 1.7%, and Enphase declined 0.6%.
  • Micron Technology (Symbol: MU), Advanced Micro Devices (Symbol: AMD) — Some semiconductor stocks dropped together. Micron Technology’s stock tumbled 4.7%, and Advanced Micro Devices dropped 4.1%. Despite strong demand, chipmakers are facing supply chain issues for key materials stemming from the Russia-Ukraine conflict.

During Premarket hours today – (Friday – 11.03.2022):

  • Oracle (Symbol: ORCL) — The business software giant’s shares fell 2.3% in the premarket after its adjusted quarterly profit of $1.13 per share fell 5 cents shy of estimates. Revenue was in line with forecasts. Oracle continues to see progress in shifting its customers to the cloud, with cloud revenue jumping 24% compared with a year ago.
  • DocuSign (Symbol: DOCU) — The electronic signature company reported adjusted quarterly earnings of 48 cents per share, 1 cent above estimates, with revenue also coming in above Street forecasts. However, the shares tumbled 16% in the premarket after DocuSign issued weaker-than-expected guidance for the full year.
  • Uber Technologies (Symbol: UBER) — The ride-hailing company’s shares rose 1.6% in premarket action after Deutsche Bank initiated coverage with a “buy” rating and a $50 price target. Deutsche Bank points to Uber’s leading position in a fast-growing market as well as an attractive entry point for the stock.
  • Rivian (Symbol: RIVN) — Rivian shares fell 8.5% in premarket action after the electric vehicle maker reported a wider than expected loss, and said supply chain issues would limit its factory output this year.
  • DiDi Global (Symbol: DIDI) — DiDi shares plunged 13% in the premarket following a Bloomberg report that the ride-hailing company was suspending plans to list its shares in Hong Kong. People familiar with the matter said Didi failed to meet demands by China regulators that it overhaul its handling of sensitive user data.

*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.