During Market hours Yesterday — (Thursday – 24.03.2022):
- The Dow (Symbol: DIA) went up 1.06%. The S&P 500 (Symbol: SPY) gained 1.51% and the Nasdaq (Symbol: QQQ) jumped 2.22%.
- KB Home (Symbol: KBH) — Shares of the homebuilder fell 4.5% lower after missing on the top and bottom lines of its quarterly results. KB Home reported earnings of $1.47 per share on revenue of about $1.40 billion. Wall Street expected earnings of $1.56 per share on revenue of $1.50 billion, according to Refinitiv.
- Nikola (Symbol: NKLA) — Shares for the electric vehicle company jumped 5.6%. The company began production of the battery-electric version of its Tre semitruck in its Coolidge, Arizona, factory.
- Nvidia (Symbol: NVDA), Intel (Symbol: INTC) — Shares for the two companies popped after reports that Nvidia may consider sourcing computer chips from Intel, according to Bloomberg. Also, Intel CEO Pat Gelsinger has been pushing government officials in the U.S. to support legislation to assist semiconductor production. Nvidia’s stock price jumped 9.8%, and Intel jumped 6.9%.
- GameStop (Symbol: GME) — Shares of the video game retailer ticked up almost 1%. following a seven-day winning streak. The stock surged 14% on Wednesday after Chair Ryan Cohen bought 100,000 more shares and raised his stake to 11.9%.
- Logitech (Symbol: LOGI) — Shares of the computer peripherals manufacturer rose 4% after Bank of America initiated coverage of the company with a buy rating. Though the stock is down about 13% this year, the analyst covering Logitech said it’s “too inexpensive to ignore.”
- Uber (Symbol: UBER) — Shares of the ride-sharing company rose 4.9% on news that it reached a deal to feature New York City taxis on its app. Through the deal, Uber will work with taxi-hailing apps Curb and Creative Mobile Technologies.
During Premarket hours today – (Friday – 25.03.2022):
- Bed Bath & Beyond (Symbol: BBBY) — Bed Bath & Beyond is close to reaching a settlement with investor Ryan Cohen, according to people familiar with the matter who spoke to Bloomberg. The agreement would see three new directors appointed to the housewares and personal care products retailer’s board. Cohen’s RC Ventures holds a 9.8% stake in Bed Bath & Beyond. The stock added 1.4% in premarket trading.
- Nio (Symbol: NIO) — Nio shares fell 3.6% in premarket action after the China-based electric car maker reported better-than-expected quarterly sales but saw deliveries fall below analyst estimates.
- Honest Company (Symbol: HNST) — Honest Company posted a wider-than-expected quarterly loss as sales of masks and sanitizing products dropped significantly. It also issued guidance for the current quarter that was weaker than expected. Shares slumped 19% in the premarket.
- Teva Pharmaceutical (Symbol: TEVA) — Bernstein upgraded the generic drug maker’s stock to “outperform” from “market perform,” noting an improved balance sheet, new product launches and the potential of settling opioid litigation. Teva rallied 4.2% in the premarket.
- Fortinet (Symbol: FTNT) — The cybersecurity company’s shares fell 2.1% in the premarket after Bank of America Securities downgraded Fortinet to “neutral” from “buy,” saying strong results are already reflected in the stock’s price.
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