During Market hours yesterday — (Tuesday – 04.01.2022):
- The Dow (Symbol: DIA) went up 0.60%. The S&P 500 (Symbol: SPY) went down 0.03% and the Nasdaq (Symbol: QQQ) lost 1.30%.
- Warner Music Group (Symbol: WMG) — Warner Music slid 3.9% a day after the company announced a sale of 8.56 million shares by affiliates of Access Industries. Warner Music will not receive any proceeds from the sale and is not selling any shares of common stock in the offering.
- Bank of America (Symbol: BAC), American Express (Symbol: AXP) — Financial stocks rallied as the benchmark 10-year Treasury yield climbed. Bank of America jumped 3.9% after Wells Fargo Equity Research named the stock a top pick in the financial sector for 2022. American Express gained 3.2%, and Signature Bank (Symbol: SBNY) jumped 2.4% after also being named as top picks at Wells Fargo.
- Coca-Cola (Symbol: KO) — The beverage stock rose 1.7% on Tuesday after investment firm Guggenheim upgraded Coca-Cola to buy from neutral. The firm said in a note to clients that Coca-Cola’s on-premise and emerging markets businesses were rebounding faster than expected from the pandemic.
- General Electric (Symbol: GE) — Shares of GE jumped about 3.3% after Credit Suisse upgraded the stock to outperform. GE’s stock has struggled since it announced a three-way split in November, but Credit Suisse said that shares had upside of more than 25%.
- Toyota Motor (Symbol: TM) — Shares of Toyota gained 6.9% after Japan’s Nikkei news service reported the company plans to launch its own automotive operating system by 2025.
During Premarket hours today – (Wednesday – 05.01.2022):
- Beyond Meat (Symbol: BYND) — Beyond Meat surged 9% in premarket trading on news that KFC will roll out the company’s fried chicken substitute nationwide starting Monday, following tests in a number of markets.
- Pfizer (Symbol: PFE) — The drug maker’s shares gained 1.5% in the premarket following a Bank of America upgrade to “buy” from “neutral”. The upgrade is based on factors that include the rollout of the oral Covid-19 pill Paxlovid as well as significant pipeline investments. Additionally, Pfizer signed a new collaboration agreement with German partner BioNTech (Symbol: BTNX) to develop an mRNA-based shingles vaccine. BioNTech rose 1.7%.
- Nikola (Symbol: NKLA) — Nikola gained 2.2% in premarket action after logistics company USA Truck (USAK) announced a deal to buy 10 electric Nikola trucks. Separately, Nikola has dropped a $2 billion patent lawsuit against Tesla (Symbol: TSLA), according to a federal court filing in San Francisco. The electric car maker had sued Tesla in 2018, accusing its rival of copying several of its designs.
- Sony (Symbol: SONY) — Sony announced plans to create an electric vehicle unit, and displayed a prototype sport utility vehicle at the Consumer Electronics Show in Las Vegas. Shares rallied 4.2% in the premarket.
- Pinterest (Symbol: PINS) — The image-sharing site’s stock added 1.7% in premarket trading after Piper Sandler upgraded it to “overweight” from “neutral”. Piper said the recent sell-off in the stock presents a good buying opportunity, with user trends improving and a stable mobile user base.
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