During Market hours Yesterday (Thursday – 31.03.2022):

  • The Dow (Symbol: DIA) went down 1.50%. The S&P 500 (Symbol: SPY) lost 1.54% and the Nasdaq (Symbol: QQQ) dropped 1.24%.
  • Walgreens (Symbol: WBA) — The drug store chain fell about 5% after the company reported its quarterly results. Despite recording a beat on earnings, it did not raise its forecast for the year The company’s president said on its earnings call Thursday that demand for Covid testing has slowed since January, and it could take time for its healthcare investments to pay off.
  • Baidu (Symbol: BIDU) — Shares for the tech company tumbled roughly 8%. Baidu was added to the Securities and Exchange Commission’s list of U.S.-traded China stocks that could be delisted should the internet search company fail to disclose financial audits to U.S. regulators.
  • AMD (Symbol: AMD) — The chipmaker lost 7.1% after Barclays downgraded the stock to equal-weight and lowered its price target from $148 to $115. The bank cited “cyclical risk across several end markets,” including PC and gaming as contributors to the downgrade.
  • Dell Technologies (Symbol: DELL), HP (Symbol: HPQ) — Shares of the computer equipment companies fell after Morgan Stanley downgraded Dell to equal-weight and HP to underweight. The bank cited ongoing macro uncertainty and a “cautious hardware outlook” among the reasons for the downgrade. Dell fell 5.4%, while HP shed 5%.
  • Occidental Petroleum (Symbol: OXY) — Shares rallied about 2% after CEO Vicki Hollub purchased 14,191 of her own company’s shares. The moves come after Warren Buffett’s recent buying spree in the outperforming energy stock.
  • UBS (Symbol: UBS) — The bank’s stock rose 1.2% after Goldman Sachs initiated UBS with a buy rating. Goldman said the rise of fintech is a positive for the banking industry.

During Premarket hours today – (Friday – 01.04.2022):

  • GameStop (Symbol: GME) – GameStop plans to seek shareholder approval to boost the number of shares outstanding in order to enable a stock split. The videogame retailer is proposing an increase to 1 billion shares from 300 million. The stock surged 16.6% in the premarket.
  • BlackBerry (Symbol: BB) – BlackBerry earned an unexpected profit for its latest quarter, but the communications software company’s revenue fell below analyst forecasts. The revenue miss came as growth in its cybersecurity unit flattened. Shares slid 4.4% in premarket trading.
  • Wynn Resorts (Symbol: WYNN) – The resort and casino operator’s stock added 1.6% in the premarket after Citi upgraded it to “buy” from “neutral.” Citi cites increasing clarity over regulations and licenses in Macau as well as an attractive valuation.
  • Li Auto (Symbol: LI) – Li Auto rallied 6.6% in premarket trading after the China-based electric vehicle maker reported 31,716 vehicles deliveries in March, more than double the year-ago total.
  • Nio (Symbol: NIO) – The China-based electric vehicle company Nio reported deliveries of 9,985 vehicles in March, an increase of 37.6% from a year ago. Nio shares jumped 5.8% in premarket trading.

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