During Market hours yesterday — (Tuesday – 05.04.2022)
- The Dow (Symbol: DIA) went down 0.83%. The S&P 500 (Symbol: SPY) fell 1.26% and the Nasdaq (Symbol: QQQ) sank 2.22%.
- Twitter (Symbol: TWTR) — Shares of the social media company rose 2% after Twitter announced that Elon Musk will join its board of directors. The stock soared 27% in the previous session for its best day even after Musk disclosed a 9.2% stake. The Tesla CEO said “significant improvements” could be made to Twitter in the coming months.
- Carnival (Symbol: CCL) — The cruise stock rose more than 2% after Carnival said that March 28-April 3 was the busiest booking week in the company’s history. Carnival has 22 of its 23 ships operational again after the pandemic effectively halted the global cruise industry.
- First Solar (Symbol: FLSR) — The solar panel stock dropped 4.3% following a downgrade to underperform from neutral at Bank of America. The investment firm said in a note that First Solar has received “too much credit for a reality that has never materialized.”
- Starbucks (Symbol: SBUX) — Shares of the coffee chain fell another 4.5% on Tuesday, as Wall Street digested returning CEO Howard Schultz’s decision to halt the company’s stock buyback program. The stock fell 3.7% on Monday. Wedbush downgraded Starbucks to neutral from outperform, saying in a note to clients that it was less confident in the company’s earnings.
- Coinbase (Symbol: COIN) — Shares of the crypto exchange sank 7.6% on Tuesday after investment firm Mizuho highlighted spending on nonfungible tokens as a rising cost for Coinbase. Mizuho also cut its price target on the stock.
- Carvana (Symbol: CVNA) — The used car dealer’s stock dropped more than 8% after a downgrade to sector perform at RBC Capital Markets. RBC said in a note that it was skeptical that Carvana’s fundamentals could support its expansion plans.
During Premarket hours today — (Wednesday – 06.04.2022):
- Spirit Airlines (Symbol: SAVE) – Spirit said its board will consider a new $3.6 billion cash takeover offer from JetBlue (Symbol: JBLU). Spirit had agreed in February to be bought by Frontier Airlines parent Frontier Group (Symbol: ULCC) for $2.9 billion in cash and stock. Spirit slid 2.8% in the premarket, with JetBlue dropping 3.7% and Frontier falling 3.9%.
- Tilray (Symbol: TLRY) – Tilray rose 2.1% in the premarket after reporting an unexpected profit for its latest quarter, even as revenue fell below analyst estimates. The cannabis producer also announced a deal with supermarket chain Whole Foods, which will sell the hemp powders produced by Tilray’s Manitoba Harvest subsidiary.
- Gogo (Symbol: GOGO) – Gogo surged 10.4% in premarket trading after the aviation industry broadband provider announced its stock would join the S&P SmallCap 600 index prior to Friday’s open.
- Array Technologies (Symbol: ARRY) – Array Technologies rallied 14.5% in the premarket after the renewal energy equipment maker reported better-than-expected quarterly revenue and issued an upbeat revenue outlook. It also named Kevin Hostetler as its new CEO, effective April 18, replacing the retiring Jim Fusaro.
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