During Market hours Yesterday (Thursday – 15.04.2021):
- Nasdaq (Symbol: QQQ) gained 1.52%. The S&P 500 (Symbol: SPY) went up 1.07%. The Dow (Symbol: DIA) gained 0.86%.
- UnitedHealth (Symbol: UNH) – Shares of health care giant jumped 3.83% after results topped the Street’s forecasts. Its adjusted earnings came in at $5.31 per share, exceeding the $4.39 per share expected by analysts, according to FactSet.
- Virgin Galactic (Symbol: SPCE) – The space stock tumbled 13.57% to turn negative on the year after a filing showed founder Richard Branson sold more than $150 million worth of the company’s stock over the past three days. Branson, and four entities he controls including Virgin Group, sold 5,584,000 shares of Virgin Galactic between April 12 and April 14.
- Rite Aid (Symbol: RAD) — Shares of the pharmacy chain tumbled 7.14% after the company’s fourth-quarter loss came in larger than expected. Rite Aid reported a loss of 78 cents per share on $5.92 billion in revenue. Analysts surveyed by Refinitiv expected a loss of 76 cents per share and $5.80 billion in revenue. The company’s CEO said in a release that business was impacted by a “historically soft” cold and flu season.
- Charles Schwab (Symbol: SCHW) — Shares of the e-broker dipped 2.88%, despite beating on the top and bottom lines of its first quarter earnings. Schwab also said it added a record 3.2 million new clients in the first quarter of 2021. The firm added about 2.4 million new accounts in all of 2020, which excludes accounts added from its acquisitions.
- Nvidia (Symbol: NVDA) – The chip stock rose 5.63% after Raymond James upgraded the company to a strong buy. “Our call … is meant to express our conviction in both the short and long term,” the firm wrote in a note to clients. Raymond James also lifted its target on the stock from $700 to $750. The new target implies a 23% upside from where shares closed on Wednesday.
- American Eagle (Symbol: AEO) – The retailer gained 4.09% after American Eagle said it anticipates first-quarter revenue topping $1 billion. The figure is ahead of the $904.1 million analysts surveyed by Refinitiv were expecting.
- Bank of America (Symbol: BAC) – The bank stock fell 2.86% even after a quarterly report that topped Wall Street estimates on booming investment banking and trading results. Some analysts including Ken Usdin of Jefferies pointed to Bank of America’s heightened expenses in the quarter, while others flagged the weaker-than-expected loan growth as a source for concern.
During Premarket hours today – (Friday – 16.04.2021):
- Sunrun (Symbol: RUN) – Shares of the residential solar company jumped 3% after Simmons Energy upgraded the stock to an “overweight” rating. In a note to clients, the firm said the company has a strong growth story ahead, and that the recent weakness presents an attractive buying opportunity.
- Cisco (Symbol: CSCO) — Cisco shares rose 1.1% in premarket trading Friday after Wolfe Research upgraded the equity to “outperform.” Analyst Jeff Kvaal wrote that “Strong IT spending should prove a tailwind to Cisco estimates” through fiscal year 2022 and said shares should climb to $63, representing a 22% upside from Thursday’s close.
- PNC Financial (Symbol: PNC) — The bank stock dipped 1.9% in premarket trading even after PNC beat estimates on the top and bottom lines for its first-quarter report. PNC reported $4.10 in earnings per share on $4.22 billion in revenue. Analysts surveyed by Refinitiv had penciled in $2.75 per share and $4.12 billion in revenue. The bank’s net interest margin declined and missed expectations, according to FactSet.
- Comcast (Symbol: CMCSA) — Shares of Comcast rose 1.2% before the opening bell after Raymond James upgraded the stock to an “outperform” rating and told clients it expects strong first-quarter earnings results from the media giant. “We believe there is future NBCU upside from HSD strength, Peacock sub growth, improved theatrical revenue, and phased theme park reopenings,” wrote analyst Frank Louthan.
- Bank of New York Mellon (Symbol: BK) — Shares of the bank ticked up 1% in premarket trading after Bank of New York Mellon beat analyst estimates in its first quarter report. The firm earned 97 cents per share on $3.92 billion in revenue. Analysts surveyed by Refinitiv were looking for 87 cents per share and $3.85 billion in revenue.
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