During Market hours yesterday — Tuesday (06.10.2020):
Stocks fell on Tuesday after President Donald Trump instructed White House officials to halt negotiations on further coronavirus stimulus, sparking a sharp reversal in the major market benchmarks.
- The Dow (Symbol: DIA) closed 1.3% lower. The S&P 500 (Symbol: SPY) ended the day down 1.4%. The Nasdaq (Symbol: QQQ) dropped 1.8%.
- SeaWorld Entertainment (Symbol: SEAS) SeaWorld shares popped more than 2% after a Credit Suisse analyst upgraded them to outperform from neutral. The analyst also hiked his price target on the stock to $30 per share from $13 per share, implying a 46% upside from Monday’s close.
- Vir Biotechnology (Symbol: VIR) Shares of Vir Boitechnology climbed more than 6% after the biotech company said its experimental Covid-19 antibody treatment in partnership with GlaxoSmithKline will enter phase-3 trials. The company said interim trial results may be available as early as the end of 2020.
- Social Capital Hedosophia Holdings Corp III (Symbol: IPOC) Shares of Social Capital Hedosophia Holdings Corp III, Chamath Palihapitiya’s special purpose acquisition company, fell more than 13% after the billionaire investor announced the target company to take public – health care startup Clover Health.
- Sonos (Symbol: SONO), Logitech (Symbol: LOGI) Shares of the device companies fell after Bloomberg News reported that Apple yanked third-party audio products from its online stores and was doing the same at retail locations. Sonos’ stock dropped 7%, while Logitech lost 6.1%.
- Boeing (Symbol: BA) Shares of the aircraft maker ticked 6.8% lower after slashing its 10-year forecast for new aircraft demand by 11% from a year ago. Boeing said the world’s airlines will need 18,350 planes worth $2.9 trillion over the next 10 years..
- Beyond Meat (Symbol: BYND) Shares of the alternative meat maker jumped 6% after Piper Sandler raised its target on the stock to $178 from $130. The hike follows Piper Sandler’s latest “Teen Survey,” during which 47% of teens said they eat plant-based meat or are willing to try it.
- Costco (Symbol: COST) Shares of the retailer gained nearly 1% after Barclays upgraded the stock to an overweight rating. The firm also hiked its price target to $400 from $330, citing a host of factors including “robust” traffic levels.
- Alteryx (Symbol: AYX) Shares of the data analytics software company soared more than 28% after announcing that board member Mark Anderson will succeed company co-founder Dean Stoecker as CEO. Alteryx also increased its third quarter revenue outlook.
- Nvidia (Symbol: NVDA) Shares of the chipmaker rose nearly 1% after BMO raised its price target on the stock to $650 per share from $565 per share. The Wall Street firm said said it sees higher earnings-per-share “potential” as Nvidia continues to innovate with new products and offerings.
During Premarket hours today – Wednesday (07.10.2020):
- Levi Strauss (Symbol: LEVI) Levi Strauss reported quarterly earnings of 8 cents per share, compared to expectations of a 22 cents per share loss. The apparel maker’s revenue also beat Wall Street forecasts, helped by a 52% jump in online sales.
- United Airlines (Symbol: UAL), American Airlines (Symbol: AAL), Delta Air Lines (Symbol: DAL), Southwest (Symbol: LUV) These and other airline stocks may benefit from the president’s call for standalone aid to the airline industry.
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