During Market hours yesterday (Tuesday – 10.05.2022)

  • The Dow (Symbol: DIA) went down 0.24%. The S&P 500 (Symbol: SPY) earned 0.23%. and the Nasdaq (Symbol: QQQ) gained 1.21%.
  • Peloton (Symbol: PTON) – Shares tumbled 8.7% after the equipment maker disclosed it’s piling up excess inventory and burning through cash in a disappointing earnings report. Peloton also issued a dim fiscal fourth-quarter sales outlook and expects an upcoming price hike may lose the company some subscribers.
  • Novavax (Symbol: NVAX) – Shares fell 2% midday, but closed 1.1% higher after the vaccine maker missed top and bottom line estimates for its latest quarter. The first quarter was, however, Novavax’s first profitable quarter. The company also reiterated its prior 2022 revenue forecast, anticipating vaccine sales will accelerate during the current quarter.
  • Vroom (Symbol: VRM) – The online used-vehicle seller saw shares popped 32.4% after posting a narrower-than-expected quarterly loss and better-than-expected revenue. Vroom also announced that chief operating officer Thomas Shortt would become CEO.
  • BioHaven Pharmaceutical (Symbol: BHVN) – Shares of the drugmaker surged 68.4% after Pfizer announced a deal to buy BioHaven, whose main product is a migraine pill called Nurtec. Shares of Pfizer were up less than 1%.
  • Upstart (Symbol: UPST) – Shares of the AI lending platform plummeted 56.4% despite better-than-expected quarterly results. Upstart cut its full-year outlook, saying rising interest rates will hurt its loan volume.
  • AMC Entertainment (Symbol: AMC) – The stock fell 5.4% after the movie theater operator posted a smaller-than-expected quarterly loss as well as revenue that exceeded analyst forecasts. AMC was helped by the release of popular big-budget movies like “The Batman,” and the company noted a jump in per-patron revenue above pre-pandemic levels.

During Premarket hours today (Wednesday – 11.05.2022):

April’s consumer price index showed an 8.3% jump, higher than the 8.1% increase expected by economists polled by Dow Jones.

  • Perrigo (Symbol: PRGO) – Perrigo fell 4.1% in premarket trading after reporting a mixed quarter, with adjusted profit of 33 cents per share falling short of the 42 cent consensus estimate. However, the over-the-counter drug maker did report better than expected revenue and raised its full-year outlook after completing the acquisition of consumer health care company HRA Pharma earlier this month.
  • Roblox (Symbol: RBLX) – Roblox posted a wider than expected loss for its latest quarter as well as sales that fell shy of Street forecasts. The gaming platform company also said it expects losses to continue for the foreseeable future, as expenses rise and as pandemic-induced demand increases fade. Roblox fell 1.1% in premarket action, paring an earlier 10% off-hours loss.
  • Unity Software (Symbol: U) – Unity Software plunged 23% in the premarket, after the video game software developer issued weaker than expected revenue guidance. Its latest quarterly loss matched estimates, but it sales were shy of consensus.
  • Coinbase (Symbol: COIN) – Coinbase slumped 14.4% in premarket trading after it reported an unexpected quarterly loss. The cryptocurrency exchange operator lost $1.98 per share for its latest quarter, compared to consensus forecasts of an 18 cents per share profit. Coinbase noted a decline in users amid an ongoing slump in the crypto market.

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