During Market hours Yesterday — (Thursday – 16.06.2022):
- The Dow (Symbol: DIA) went up 2.39%. The S&P 500 (Symbol: SPY) dropped 3.31%.and the Nasdaq (Symbol: QQQ) lost 4.03%.
- Warner Bros. Discovery (Symbol: WBD) — Shares dropped more than 8% following JPMorgan analyst Philip Cusick reinstated that while Warner Bros. has the assets and potential cost savings to reinvest in direct-to-consumer, he’s skeptical of the company’s ability to grow in aggregate on the other side of synergies.
- Tesla (Symbol: TSLA) — Shares of the automaker dropped more than 8% As Tesla is laying off more employees, including hourly and salaried workers. Earlier this month, CEO Elon Musk said Tesla needed to cut 10% of the workforce and claimed that the reduction would be for “salaried headcount.”
- Carnival (Symbol: CCL), Royal Caribbean (Symbol: RCL), Norwegian Cruise Lines (Symbol: NCLH) — Cruise stocks fell sharply as investors grappled with growing signs of a recession in the U.S. Shares of Royal Caribbean dropped 11.4%, while Carnival and Norwegian Cruise Lines shed 11.1% and 11.5%, respectively.
- Apple (Symbol: AAPL), Amazon (Symbol: AMZN), Meta Platforms (Symbol: META) — Big Tech stocks fell sharply on Thursday, contributing to the major decline seen in the Nasdaq Composite. Shares of Amazon and Facebook-parent Meta Platforms slid 3.7% and 5%, respectively, while Apple shed nearly 4%.
- Unity Software (Symbol: U) — Shares of the video game fell 9.2% after Benchmark initiated coverage of the stock with a sell rating. The investment firm said an economic slowdown and post-pandemic decline in video game user growth would be negatives for Unity.
- American Airlines (Symbol: AAL), Delta Air Lines (Symbol: DAL) — Travel equities were impacted by receding fears, putting pressure on airline stocks. American Airlines’ stock plunged 8.6%, while Delta’s stock sank more than 7%.
During Premarket hours today – (Friday – 17.06.2022):
- Adobe (Symbol: ADBE) — In premarket trade, Adobe shares slid 3.7% percent after the software business published weaker-than-expected financial outlook for the current quarter and the whole year. Despite beating Wall Street profit and revenue projections in the most recent quarter, Adobe is experiencing headwinds from the Ukraine conflict and negative foreign exchange rates.
- JD.com (Symbol: JD) — According to CEO Xin Lijun in an interview with Bloomberg, JD.com is looking at expanding into meal delivery. That would place the Chinese e-commerce behemoth in direct rivalry with Alibaba and Meituan, China’s market leaders. JD.com surged 8.9% in premarket trading.
- U.S. Steel (Symbol: X) — In the premarket, U.S. Steel jumped 7.7% after releasing better-than-expected forecasts for the current quarter. Rising demand and increased steel prices are helping the steel producer’s earnings.
- Roku (Symbol: ROKU) – Roku stock jumped 3.4% percent in premarket trading after the company announced a deal with Walmart (WMT). Roku users will be able to purchase products with their remotes while watching TV shows.
- Alibaba (Symbol: BABA) — Alibaba surged 9.2% in premarket trading after Reuters reported that China’s central bank approved Alibaba-affiliate Ant Group’s application to form a financial holding company. That revives hopes of a possible Ant Group initial public offering.
- Snap (Symbol: SNAP) — The social media company’s stock added 2% in the premarket following news that Snap is testing a paid subscription model that would give users access to exclusive and pre-release features.
- American Express (Symbol: AXP) — The financial services giant was upgraded to “outperform” from “neutral” at Baird, which said that “relentless panic selling” has provided an attractive buying opportunity. American Express gained 1.5% in premarket action.
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