During Market hours yesterday — (Thursday – 12.01.2023):
- The Dow (Symbol: DIA) went up +0.66%. The S&P 500 (Symbol: SPY) earned +0.36%. and the Nasdaq (Symbol: QQQ) gained +0.54%.
- American Airlines (Symbol: AAL) — Shares rose more than +7% after the airline boosted its revenue and profit estimates for the fourth quarter. American Airlines, which reports earnings Jan. 26, cited strong demand and high fares for the hike in estimates.
- Logitech International (Symbol: LOGI) — The keyboard and mouse maker fell more than -16% after Logitech announced preliminary results that showed declining sales and earnings. For the quarter ending Dec. 31, Logitech said it expects net sales to be down more than 20% year over year in U.S. dollars. Operating income is projected to fall more than 30%. CEO Bracken Darrell said in statement that a slowdown in enterprise sales was partly to blame for the results.
- Disney (Symbol: DIS) — Shares of Disney rose +4.1% after the company announced Mark Parker, the executive chairman of Nike, as its new chairman. In addition, the company opposed Nelson Peltz of Trian as he pushes for a seat on the board, igniting a proxy battle.
- Tesla (Symbol: TSLA) — Tesla fell -2% following a report that company plans to expand capacity in its Shanghai factory have been put on hold due to data concerns raised by China’s central government. The expansion was initially set to begin in the middle of the year, according to Bloomberg.
- Bed Bath & Beyond (Symbol: BBBY) — Bed Bath & Beyond rallied +18%, building on gains after a handful of meme stocks surged Wednesday. The stock surged almost 69% in Wednesday’s session.
During Premarket hours today – (Friday – 13.01.2023):
- Virgin Galactic Holdings (Symbol: SPCE) — The space tourism company surged nearly +16% after it said it was on track for a commercial launch in the second quarter of 2023.
- Wells Fargo (Symbol: WFC) — The bank slid nearly -4% after reporting shrinking profits, weighted down by a recent settlement and the need to build-up reserves.
- Tesla (Symbol: TSLA) — The electric-vehicle maker slid nearly -6% in the premarket after it was downgraded by Guggenheim to sell from neutral over concerns with Tesla’s fourth-quarter estimates. Tesla also cut prices in the U.S. and Europe again, according to listings on the company’s website Thursday night. The stock lost 65% in 2022.
- Bank of America (Symbol: BAC) – The bank reported earnings per share of 85 cents last quarter, above the 77 cents a share expected by analysts, per Refinitiv. Revenue also beat expectations. However, the bank’s net interest income fell slightly below expectations despite jumping interest rates. Bank of America was down -2.8% early trading.
- Salesforce (Symbol: CRM) — The software company slid -1.4% in the premarket after being downgraded by Atlantic Equities to neutral from overweight. The Wall Street firm cited execution concerns, management exodus and slower-than-expected revenue growth.
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