During Market hours yesterday (Tuesday – 08.02.2022)

Yesterday, US indices rose as a result of positive company earnings. Below some of the most representative highlights:

  • The Dow (Symbol: DIA) went up 1.04%. The S&P 500 (Symbol: SPY) rose 0.82% and the Nasdaq (Symbol: QQQ) gained 1.12%.
  • Peloton (Symbol: PTON) — Shares of the fitness company soared 25.2% after the firm announced it’s replacing its founder and CEO John Foley and cutting 2,800 jobs, or about 20% of corporate positions. Barry McCarthy, the former chief financial officer of Spotify and Netflix, will become CEO and president and join Peloton’s board.
  • Harley-Davidson (Symbol: HOG) —The motorcycle maker’s surged 15.4% after the company reported a surprise profit of 14 cents per share for its most recent quarter thanks to increased demand for its more expensive motorcycle model. Analysts expected a loss of 38 cents per share. The company also reported better-than-expected revenue for the quarter.
  • Pfizer (Symbol: PFE) — The vaccine maker’s shares fell 2.8% despite the company reporting better-than-expected earnings for the fourth quarter and raising its full-year sales forecast for its Covid-19 vaccine. Pfizer also reported a revenue miss and issued weaker-than-expected full-year guidance for its most recent quarter.
  • Amgen (Symbol: AMGN) — Shares of the biotech company rose 7.8% following the company’s quarterly results. Amgen reported $4.36 per share excluding items, which beat analysts’ estimates of $4.08, according to Refinitiv. It also missed on revenue, reporting $6.85 billion for the quarter, versus the expected $6.87 billion.
  • General Motors (Symbol: GM) — Shares fell 2.4% after Morgan Stanley downgraded the stock to equal weight from overweight and cut its price target on the stock to $55 from $75. The automaker did not meet Morgan Stanley’s expectations for fiscal year 2022 earnings guidance. Morgan Stanley also voiced some concerns about GM’s shift to electric vehicles.
  • Novavax (Symbol: NVAX) — Shares of the drug maker tumbled 11.9% following a Reuters report that the company has only delivered about 10 million of the two billion Covid-19 vaccine doses it had planned to send around the world.

During Premarket hours today (Wednesday – 09.02.2022):

  • Canopy Growth (Symbol: CGC) — The Canada-based cannabis producer’s stock rallied 6% in the premarket after it reported a narrower-than-anticipated loss as well as better-than-expected revenue for its latest quarter. Cannabis sales declined but were offset by growth in its drinks and vapes categories.
  • Lyft (Symbol: LYFT) — Lyft earned an adjusted 9 cents per share for its latest quarter, 1 cent above estimates, with the ride-hailing service also reporting better-than-expected revenue. The stock fell 4% in the premarket as ridership numbers came in below analyst forecasts, although that was offset by higher fares and longer trips by Lyft customers.
  • Nikola (Symbol: NKLA) — Nikola denied a report that it instituted a hiring freeze and that the electric truck maker has lost nearly its entire supply chain leadership. Nikola said its supply chain department is “intact” and it continues to hire. The stock added 1.4% in premarket trading.
  • Xpeng (Symbol: XPEV) — Xpeng leaped 6.8% in the premarket after the electric vehicle maker’s Hong Kong shares were included in a trading link to mainland China. Inclusion in the Shenzhen-Hong Kong Stock Connect link allows Chinese investors easier access to those shares.
  • Enphase Energy (Symbol: ENPH) — Enphase surged 22% in premarket action following a better-than-expected quarterly report from the maker of solar and battery systems. Enphase earned an adjusted 73 cents per share for the quarter, beating the 58-cent consensus estimate.
  • Container Store (Symbol: TCS) — The specialty retailer’s shares tumbled 26% in the premarket despite better-than-expected profit and sales for the company’s most recent quarter. Overall sales were down 3% from a year ago and online sales tumbled by 36% compared with a year earlier.
  • NCR (Symbol: NCR) — The financial technology and services company’s stock soared 10% in premarket trading after it said it would conduct a strategic review of its operations, adding that it believes there is substantial shareholder value yet to be unlocked.

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