During Market hours yesterday — (Tuesday – 11.01.2022):
- The Dow (Symbol: DIA) went up 0.49%. The S&P 500 (Symbol: SPY) rose 0.91% and the Nasdaq (Symbol: QQQ) gained 1.50%.
- Illumina (Symbol: ILMN) — Illumina shares surged 12.7% a day after the biotechnology company issued a 2022 revenue outlook that topped consensus expectations. The company also highlighted strong demand for its gene-sequencing treatments as well as new partnerships with four health-care companies.
- Advanced Micro Devices (Symbol: AMD) — The chip stock added 4.4% after KeyBanc upgraded it to overweight from sector weight. The firm said, “AMD is poised to benefit from robust high teens cloud data center growth in 2022 and should meaningfully outpace industry growth given significant share gains.”
- General Electric (Symbol: GE) — Shares of GE rose 2.4% after Bernstein initiated coverage of the stock with an outperform rating. The firm said it is bullish on the conglomerate’s break up into three separate businesses. “GE’s component parts are easily scalable public companies, and improved line of sight to financials and end markets will only benefit shareholders,” the company said.
- T-Mobile (Symbol: TMUS) — T-Mobile shares rose 3.4% after Goldman Sachs added the stock to its conviction buy list. The firm said the telecom company has an attractive valuation.
- CVS Health (Symbol: CVS) — Shares of the drug store operator and pharmacy benefits manager gained 1% after the company raised its full-year earnings outlook and reiterated prior guidance for 2022. CVS expects full-year 2021 earnings to be in a range of $5.87 to $5.92 per share, up from previous expectations of $5.50 to $5.61 per share.
- Big Lots (Symbol: BIG) — Shares of the discount retailer fell 2.7% after the company said traffic and sales have slowed in January as the Covid omicron variant spreads and winter weather rolls in.
During Premarket hours today — (Wednesday – 12.01.2022):
- Didi Global (Symbol: DIDI) — The ride-hailing company’s shares rallied 5.9% in premarket trading on reports that it is in talks for a second-quarter Hong Kong IPO as it continues the process of delisting from the New York Stock Exchange.
- Philips (Symbol: PHG) — Philips shares tumbled 15.6% in premarket action after predicting a roughly 40% drop in core profit for the fourth quarter. The Dutch health technology company’s results are being impacted by component shortages, its ventilator recall and other factors.
- Ocugen (Symbol: OCGN) — The biopharmaceutical company’s stock jumped 5.5% in premarket trading after a booster dose of its vaccine candidate Covaxin was shown to neutralize the Covid-19 omicron and delta variants.
- Biogen (Symbol: BIIB) — Biogen shares sank 9.1% in premarket trading after Medicare agreed to only partially cover the Alzheimer’s drug Aduhelm. Medicare will cover the treatment only if patients are enrolled in clinical trials and have early-stage symptoms.
- Just Eat Takeaway (Symbol: GRUB) — The Grubhub parent rallied 4.3% in the premarket after the company maintained its 2022 forecast and said it was seeing a rise in order volume.
- Crocs (Symbol: CROX) — The casual shoe maker’s stock rose 1.5% in premarket action after Piper Sandler named it a “top pick” for 2022, calling it one of the most impressive consumer growth stories for several years to come.
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