During Market hours yesterday (Tuesday – 08.03.2022)

US indices closed lower after that President Joe Biden announced measures to embargo Russian energy imports. The news of the restriction boosted energy company stock prices, with Enphase Energy and SolarEdge Technologies jumping more than 10%. Below some of the most representative highlights:

  • The Dow (Symbol: DIA) went down 0.59%. The S&P 500 (Symbol: SPY) dropped 0.76% and the Nasdaq (Symbol: QQQ) lost 0.46%.
  • Shell (Symbol: SHEL) — Shares of Shell popped 2.7% after the company announced it was stopping all spot purchases of Russian crude oil. Shell also apologized for buying a heavily discounted consignment of Russian oil.
  • Enphase Energy (Symbol: ENPH), SunPower (Symbol: SPWR) — Enphase Energy and SunPower rose 10.8% and 18.7%, respectively, as rising oil prices resulting from the Russia-Ukraine conflict continue to shift attention toward alternative energy sources.
  • Chevron (Symbol: CVX), Exxon Mobil (Symbol: XOM) — Traditional energy stocks are up as oil prices continue to rise, and the U.S. announced a ban on Russian oil and gas imports in response to its war on Ukraine. Shares of Chevron and Exxon rose 5.2% and 0.8%, respectively.
  • Apple (Symbol: AAPL) — Apple shares fell 1.2%. The tech giant held its first launch event of the year on Tuesday. The company announced a new affordable iPhone, an update to the iPad Air and its latest, most powerful Mac chip.
  • Caterpillar (Symbol: CAT) — Shares rallied 6.8% after Jefferies upgraded the stock to a buy rating from a hold rating. The firm said the surge in commodities prices sparked by Russia’s invasion of Ukraine could boost Caterpillar’s performance.
  • Petco (Symbol: WOOF) — Shares of Petco rose 8% after the company beat analysts’ estimates on the top and bottom lines in the fourth quarter. The pet retailer also issued strong revenue guidance for 2022.

During Premarket hours today (Wednesday – 09.03.2022):

  • Express (Symbol: EXPR) – The apparel and accessories retailer’s shares rallied 10% in the premarket despite a wider-than-expected quarterly loss. Express saw better-than-expected sales and a comparable-store sales increase of 43%, more than double the consensus FactSet estimate.
  • Amazon.com (Symbol: AMZN) – The House Judiciary Committee is asking the Justice Department to start a criminal probe of Amazon, according to people familiar with the matter who spoke to the Wall Street Journal and a letter seen by the paper. The letter accuses Amazon of failing to provide information related to the examination of the company’s competitive practices. Amazon rose 2.2% in premarket action.
  • PepsiCo (Symbol: PEP) – The beverage and snack giant suspended the sale of its soda brands in Russia, although it will continue to sell potato chips and various daily essentials like baby formula. The Wall Street Journal said PepsiCo is currently exploring various options for its Russian unit, including writing off the value of that business.
  • Stitch Fix (Symbol: SFIX) – Stitch Fix tumbled 23% in the premarket after it issued weaker-than-expected sales guidance and said it continues to face challenges in getting customers to sign up for its styling service. Stitch Fix matched estimates with a quarterly loss of 28 cents per share, while the clothing styling company’s revenue topped forecasts.
  • Bumble (Symbol: BMBL) – Bumble soared 22% in premarket trading after the dating service operator reported an adjusted quarterly profit of 13 cents per share, beating estimates of a breakeven quarter. the company also forecasts strong 2022 growth.
  • XPO Logistics (Symbol: XPO) – The trucking and transportation company will split off its brokered transportation services unit into a separate company, and plans to divest its European business and its North American intermodal operation. XPO surged 13.3% in the premarket.
  • General Electric (Symbol: GE) – GE shares gained 1.6% in premarket trading after the company’s board of directors authorized a $3 billion share repurchase program.

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