During Market hours yesterday — Tuesday (10.11.2020):
The Dow rose on Tuesday, building on its sharp gains from the previous session as a market rotation out of names that thrived during the pandemic and into stocks linked to an economic recovery continued.
- The Dow (Symbol: DIA) closed 0.9% higher. The S&P 500 (Symbol: SPY) went down 0.2% and the Nasdaq (Symbol: QQQ) sank 1.8%.
- Amazon (Symbol: AMZN), Facebook (Symbol: FB), Google (Symbol: GOOG), Apple (Symbol: AAPL) Big Tech stocks struggled on Tuesday as the rotation out of recent winners continued following progress in vaccines and therapeutics against the coronavirus. Shares of Facebook and Amazon lost 2.3% and 3.5%, respectively, while Google and Apple saw more modest declines.
- Boeing (Symbol: BA) Shares jumped 5.2% after Reuters reported the Federal Aviation Administration is in the final stages of reviewing proposed changes to Boeing’s 737 Max. The agency could approve the plane’s ungrounding as early as Nov. 18, Reuters reported.
- Ulta (Symbol: ULTA) Shares popped 7.4% on news the beauty company has struck a deal to open skincare shops inside of hundreds of Target stores across the country. Each shop will be about 1,000 square feet and will be staffed with Target employees trained by Ulta.
- Zoom Video (Symbol: ZM) Shares of Zoom sank for a second day following positive news on treatments and vaccines for the coronavirus. Shares of Zoom Video lost 9%.
- D.R. Horton (Symbol: DHI) The homebuilder stock jumped 9.1% after D.R. Horton beat Wall Street estimates on the top and bottom line for its fiscal fourth quarter and raised its dividend. The company earned an adjusted $2.24 per share on $6.4 billion in revenue. Analysts surveyed by Refinitiv were expecting $1.76 per share on $5.88 billion in revenue. Net sales orders rose more than 80% for both number of homes and total value.
- Beyond Meat (Symbol: BYND) Shares plunged 17% after the plant-based meat producer reported an unexpected quarterly loss as the pandemic weakened demand for its meat alternatives at restaurants. The company posted a loss per share of 28 cents, versus a profit of 5 cents expected per Refinitiv. Its revenue also came in below estimates.
- RealReal (Symbol: REAL) Shares of the luxury consignment company tanked 12.6% after reporting disappointing earnings. RealReal reported a loss of 41 cents per share, compared to the loss of 38 cents expected by analysts, according to Refinitiv. The company also said it was not giving future guidance.
- Novavax (Symbol: NVAX) The drugmaker fell 12.9% after missing on the top and bottom lines of its quarterly results. Novavax reported a loss of $3.21, compared to the expected earnings of $1.73 per share, according to Refinitiv. Revenue came in at $157 million, lower than the forecast $230.6 million.
During Premarket hours today – Wednesday (11.11.2020):
- Lyft (Symbol: LYFT) Lyft lost more than $280 million during the third quarter, more than double the loss it reported in the same quarter a year ago. However, Lyft reported better than expected revenue for the quarter and also said it was working on developing a new food delivery service.
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