During Market hours yesterday — Tuesday (08.12.2020):
Stocks rose to fresh all-time highs on Tuesday as Pfizer started to roll out its coronavirus vaccine in the U.K., lifting hope of the economy recovering in the near future.
- The Dow (Symbol: DIA) went up 0.4%. The S&P 500 (Symbol: SPY) closed 0.3% higherand the Nasdaq (Symbol: QQQ) popped 0.3%.
- Stitch Fix (Symbol: SFIX) Shares of the clothing subscription service soared 45% after the company beat top and bottom-line estimates during its fiscal first-quarter results . Stitch Fix earned 9 cents per share, compared to the 20-cent loss analysts surveyed by Refinitiv had expected. Revenue came in at $490.4 million, which was also ahead of the $481.2 million estimate. The company’s client base grew 10.2% year over year.
- AutoZone (Symbol: AZO) The company reported mixed quarterly numbers, pushing its stock down 5.8%. The auto goods retailer posted earnings per share of $18.61, topping a Refinitiv estimate of $17.77 per share. However, the company’s revenue of $3.15 billion was just below a consensus forecast of $3.16 billion.
- Pfizer (Symbol: PFE) Shares of the pharmaceutical company gained 3% on Tuesday as the U.K. began to rollout the Covid-19 vaccine from Pfizer and BioNTech. Emergency use authorization is expected in the U.S. later this month. The Food and Drug Administration said Tuesday that the vaccine did not raise any specific safety concerns.
- QuantumScape (Symbol: QS) Shares rallied more than 13% after the electric car-battery maker said it is building a battery that it says can charge to 80% in 15 minutes. Additionally, The Financial Times reported that investor Jeremy Grantham has made a $200 million investment in QuantumScape.
- Boeing (Symbol: BA) The stock declined by more than 1% after the aerospace giant said its backlog for the 737 Max declined once again last month. The company said customers, including Virgin Australia and lessor Air Lease, canceled orders for 88 Max planes.
- ON Semiconductor (Symbol: ON) The company announced Hassane El-Khoury as the company’s new president and CEO. The stock rose more than 4% on the news.
- Etsy (Symbol: ETSY) BTIG hiked its price target on Etsy to $174 per share from $160 per share, sending the stock up about 6%. The new target implies a 10.9% upside from Monday’s close of $156.80 per share. “If our estimate bears out, then with the first two months of the quarter growing 90%+, the standalone Etsy marketplace is well-positioned to meet or beat our 84% 4Q growth estimate.”
- FedEx (Symbol: FDX) FedEx advanced more than 1% after UBS raised its price target on the stock to $380 from $320, a new Street high. The firm said it expects the company to beat estimates when it reports second-quarter results after the market closes on Dec. 17.
During Premarket hours today – Wednesday (09.12.2020):
- Campbell Soup (Symbol: CPB) The food maker reported quarterly profit of $1.02 per share, 11 cents a share above estimates. Revenue topped forecasts as well. Campbell also raised its quarterly dividend by 6% to 37 cents per share.
- Chewy (Symbol: CHWY) Chewy lost 8 cents per share for its latest quarter, smaller than the 13 cents a share loss that Wall Street was anticipating. The pet products retailer’s revenue beat analysts’ forecasts.
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