Commodities & Agriculture:
• Brent crude futures were up 25 cents, or +0.3%, at $91.09 a barrel but were down 1.9% for the week. U.S. West Texas Intermediate (WTI) crude futures gained 11 cents, or +0.1%, to trade at $85.21, down 1.8% this week.
• The Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% higher to 109.545 (two-decade peak = 110.79).
During Market hours Yesterday — (Thursday – 15.09.2022):
• The Dow (Symbol: DIA) went down -0.54%. The S&P 500 (Symbol: SPY) lost -1.14%. and the Nasdaq (Symbol: QQQ) fell -1.67%.
• Netflix (Symbol: NFLX) — The streaming stock gained +7% after Evercore ISI upgraded Netflix to an outperform rating and said its stock could rally more than 30% as it rolls out an ad-supported service and cracks down on password sharing.
• Adobe (Symbol: ADBE) — Adobe shares slumped -15% on news that it’s acquiring a design software firm known as Figma for roughly $20 billion in cash and stock. The company beat earnings estimates for the period but shares mixed guidance for the current quarter.
• Oracle (Symbol: ORCL) — Shares of the software company dropped another -2%, extending a 5% sell-off from the previous session on weak earnings. Oracle’s earnings came in at $1.03 per share, adjusted, compared to the $1.07 per share expected by analysts, according to Refinitiv. Its revenue met expectations, however.
• Wynn Resorts (Symbol: WYNN) — Shares jumped +8% after Credit Suisse upgraded Wynn Resorts to outperform, saying the casino stock could nearly double after its hotel convention center expansion in Las Vegas.
• Nordstrom (Symbol: DIA) — The department store stock gained +2% after Jefferies upgraded it to a buy rating. The firm said in a note to clients that Nordstrom is better positioned than some of its peers in a downturn.
During Premarket hours today – (Friday – 16.09.2022):
• Uber Technologies (Symbol: UBER) — Uber said it was investigating a cybersecurity incident after a hacker claimed access was gained to the ride-sharing company’s computer systems. Uber fell -4% in the premarket.
• AstraZeneca (Symbol: AZN) — AstraZeneca gained +1.6% in premarket trading after the drug maker received EU approval for its Covid-19 antibody cocktail.
• General Electric (Symbol: GE) — GE slid -4.5% in the premarket after Chief Financial Officer Carolina Dybeck Happe told an investment conference that supply chain issues are still affecting the company’s ability to deliver products to customers in a timely manner. As a result, the company’s cash flow remains under pressure.
• NCR (Symbol: NCR) — NCR plunged -15% in premarket action after announcing plans to separate into two separate publicly traded companies. One company will focus on digital commerce, the other on NCR’s flagship ATM business.
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