During Market hours yesterday (Tuesday – 01.11.2022)

  • The Dow (Symbol: DIA) went down -0.31%. The S&P 500 (Symbol: SPY) lost -0.41%. and the Nasdaq (Symbol: QQQ) dropped -1.02%.
  • Uber (Symbol: UBER) – Shares of Uber jumped +12% after the company reported revenue that exceeded Wall Street’s expectations. The company also gave better-than-anticipated guidance for its fourth quarter, projecting strong bookings growth and adjusted EBITDA of $600 million to $630 million. Analysts surveyed by Refinitiv expected $568 million in adjusted EBITDA.
  • Goodyear Tire (Symbol: GT) – Shares fell -14.9% after the tire company’s earnings fell short of expectations due in part to higher costs and a surging dollar.
  • Amazon (Symbol: AMZN) – Shares of the e-commerce giant lost -5.5%. Deutsche Bank reiterated the stock as a buy and said it was well positioned, but did concede that macro challenges were hurting advertising budgets.
  • Carvana (Symbol: CVNA) — Shares advanced +12.9% after JPMorgan upgraded Carvana to neutral from underweight, saying the company and investors have a better handle on the risks in the used car seller after its decline this year.
  • SoFi (Symbol: SOFI) – The fintech company jumped +5.3% on the back of a smaller-than-expected quarterly loss and revenue that exceeded analysts’ forecasts. SoFi also issued upbeat guidance and said added about 424,000 members during the quarter.
  • Abiomed (Symbol: ABMD) – Shares of the heart pump maker surged +50% after the company announced it has agreed to be acquired by Johnson & Johnson (Symbol: JNJ)  for $16.6 billion in cash. Johnson & Johnson is looking to boost growth at its medical devices unit after it completes plans for a spinoff of its consumer health business next year. J&J shares fell -1%.
  • Pfizer (Symbol: PFE) – Shares of the pharmaceutical giant jumped +3.1% after the company reported stronger-than-expected earnings and issued an improved financial outlook. Pfizer said strong demand for its older drugs helped offset a drop in sales of its Covid-related products. The stock is still down about 19% this year.
  • Peloton (Symbol: PTON) – Shares of the struggling home fitness company were up +6.4% as its products went live on the Dick’s (Symbol: DKS)  website Tuesday. Dick’s shares added +2.4%.

During Premarket hours today (Wednesday – 02.11.2022)

  • CVS (Symbol: CVS) – CVS gained +1.9% in the premarket after reporting better-than-expected revenue and profit for its latest quarter. The company also raised its adjusted full-year guidance. The outlook excludes charges related to a just-announced $5 billion settlement of opioid litigation.
  • Estee Lauder (Symbol: EL) – The cosmetics maker’s shares tumbled -11.5% in premarket trading after the company issued a weaker-than-expected outlook, noting higher costs, a stronger US dollar and Covid lockdowns in China. Estee Lauder reported better-than-expected earnings for its latest quarter.
  • Canada Goose (Symbol: GOOS) – The outerwear company cut its full-year revenue forecast, prompting a -2.4% premarket drop in its shares. Canada Goose is seeing Covid restrictions in China weigh on its sales.
  • Match Group (Symbol: MTCH) – Match Group shares surged +14.7% in premarket trading after the dating service operator reported better-than-expected quarterly revenue, driven by a boost in paid subscriptions for its Tinder service.

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