During Market hours Yesterday — (Thursday – 20.01.2022):
- The Dow (Symbol: DIA) went down 0.86%. The S&P 500 (Symbol: SPY) lost 1.1% and the Nasdaq (Symbol: QQQ) dropped 1.3%.
- Peloton (Symbol: PTON) — The at-home fitness company’s shares tumbled 23.93% after the stationary bike maker announced it will temporarily halt production of its bikes and treadmills due to waning demand as it tries to control costs. The news comes as about $40 billion has been shaved off Peloton’s market cap over the past year.
- Regions Financial (Symbol: RF) — The bank’s stock slid 5.2% after the company reported quarterly earnings that were lower than expected by 6 cents per share, as well as revenue that matched analyst estimates.
- M&T Bank (Symbol: MTB) — Shares of the regional bank fell 5.4% after the company reporter lower-than-expected earnings for the most recent quarter. Interest margins were also lower than expected at 2.58%, compared to estimates of 2.67%.
- Casper Sleep (Symbol: CSPR) — Shares of the mattress company surged 9.7% after Casper announced that its board had approved a takeover offer from private equity firm Durational Capital Management. The deal values Casper at $6.90 per share.
- Signet Jewelers (Symbol: SIG) — Shares fell 9.6% after the jewelry retailer said holiday sales rose 30.4% from year prior. Same-store sales also jumped more than 25%, the company said.
During Premarket hours today – (Friday – 21.01.2022):
- Netflix (Symbol: NFLX) – Netflix plunged 19.4% in premarket trading, after predicting slower subscriber growth for this quarter than analysts were anticipating. The streaming service cited growing competition among the factors hitting its growth numbers. Netflix did report a better-than-expected profit and revenue for its latest quarter.
- Peloton (Symbol: PTON) – Peloton said it is reviewing its production levels as well as the size of its workforce in response to a CNBC report that it was temporarily halting production of bikes and treadmills to deal with waning demand. Peloton bounced back 6.1% in premarket action after plunging 24% Thursday.
- CSX (Symbol: CSX) – CSX beat estimates by 1 cent with a quarterly profit of 42 cents per share, and the railroad operator’s revenue also beat Street forecasts. CSX said sales grew across all of its business lines as customers sought to deal with supply chain challenges. However, the stock fell 1.4% in the premarket as the company noted a surge in expenses.
- Intuitive Surgical (Symbol: ISRG) – Intuitive Surgical reported adjusted quarterly earnings of $1.30 per share, 2 cents above estimates, with the surgical equipment maker’s revenue topping estimates as well. However, the stock is being pressured after the company noted a decline in procedures using its Da Vinci surgical system. Intuitive Surgical slumped 6.4% in premarket trading.
- PPG Industries (Symbol: PPG) – PPG is seeing its shares fall in premarket trading despite beating Wall Street forecasts on the top and bottom lines for its latest quarter. The paint and coatings maker is seeing demand take a hit from declining airplanes and automobiles production. The stock lost 2.9% in the premarket.
- Intel (Symbol: INTC) – Intel announced plans to invest $20 billion in new manufacturing facilities outside Columbus, Ohio. The plants will produce advanced semiconductors, as chipmakers accelerate efforts to meet growing demand.
- Rio Tinto (Symbol: RIO) – Rio Tinto shares lost 1.6% in premarket trading after Serbia revoked the mining company’s lithium exploration licenses, citing environmental concerns. Rio had aimed to become one of the top producers of lithium, a key component in batteries.
- Under Armour (Symbol: UAA) – The athletic apparel maker’s stock rose 1.4% in the premarket after Citi upgraded the stock to “buy” from “neutral,” saying Under Armour is emerging from the pandemic in a very strong position in North America.
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