During Market hours yesterday — (Tuesday – 03.01.2023)
- The Dow (Symbol: DIA) went down -0.03%. The S&P 500 (Symbol: SPY) lost -0.42%. and the Nasdaq (Symbol: QQQ) lost -0.68%.
- Tesla (Symbol: TSLA) — Shares of Tesla shed -12.2% after the company announced fourth-quarter vehicle deliveries that fell short of Wall Street’s expectations. The electric vehicle maker delivered 405,278 cars in the fourth quarter, where the median analyst estimate was around 427,000, according to FactSet.
- PayPal (Symbol: PYPL) — Shares added +2.8% after Truist upgraded PayPal to buy from hold, saying that estimates now look reasonable.
- Block (Symbol: SQ) — Block rose as much as +7.4% after Baird upgraded the stock to outperform from neutral. The firm said shares are due for a comeback and should benefit from macro trends like rising rates. The stock later gave up that gain and was last flat.
- Amazon (Symbol: AMZN) — Shares gained +2.2% after Loop named the e-commerce giant a top idea for 2023, saying the stock is “well positioned to outperform.”
- Citigroup (Symbol: C) — The bank stock gained +1.2% after Bank of America reiterated it as a buy. The firm said the stock has an “interesting” risk/reward for investors looking for a “restructuring story.”
- CVS (Symbol: CVS) — Shares dipped -0.3%. Evercore downgraded the stock to in line from outperform due to valuation.
During Premarket hours today — (Wednesday – 04.01.2023)
- Salesforce (Symbol: CRM) — Shares of the cloud giant rose about +2% in early trading after the company announced a restructuring plan that includes cutting its staff by about 10% and the closure of some offices.
- Microsoft (Symbol: MSFT) — Microsoft shares dropped about -2% after UBS downgraded the tech giant to neutral from buy. UBS cited concern over the company’s Azure and Office businesses following a series of field checks.
- Pfizer (Symbol: PFE) — Shares of the pharma giant were down about -1.4% after being downgraded by Bank of America to neutral from buy. Among the reasons for the call was the uncertainty over the magnitude of the revenue decline for its Covid drugs, Comirnaty and Paxlovid.
- AstraZeneca (Symbol: AZN) — The pharmaceutical giant saw a +1.8% lift in its shares after the European Medicines Agency validated its Type II Variation application for the treatment of a “non-small cell lung cancer.”
- Tesla (Symbol: TSLA) — Shares gained +1% in the premarket. The stock dropped 12% Tuesday, a day after the electric-vehicle maker reported missing expectations on fourth-quarter delivery and production numbers.
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