During Market hours yesterday — (Tuesday – 12.04.2022)
Below some of the most representative highlights:
- The Dow (Symbol: DIA) went down 0.29%. The S&P 500 (Symbol: SPY) lost 0.37% and the Nasdaq (Symbol: QQQ) dropped 0.42%.
- CarMax (Symbol: KMX) — CarMax shares plummeted 9.5% after reporting a beat on revenue but a miss on earnings for the latest quarter. The auto retailer earned 98 cents per share, below the $1.25 per share consensus estimate.
- Cisco Systems (Symbol: CSCO) — Shares of the network technology company fell 2%, lagging behind the broader market, after Citi downgraded Cisco to sell from neutral. A Citi analyst said in a note to clients that Cisco was losing market share to its rivals.
- Hewlett Packard Enterprise (Symbol: HPE) — Shares of Hewlett Packard Enterprise dipped 2.5% after Morgan Stanley downgraded the stock to underweight from equal weight and said it expects the stock to underperform over the next year.
- Chegg (Symbol: CHGG) — Shares of Chegg dropped 8.4% following a downgrade by KeyBanc Capital Markets. Analysts downgraded Chegg to sector weight from overweight, saying the company reported lower growth in the U.S. in its first quarter.
During Premarket hours today — (Wednesday – 13.04.2022):
- Delta Air Lines (Symbol: DAL) — Delta rallied 6.6% in the premarket after reporting a smaller-than-expected quarterly loss and predicting a current-quarter profit. The airline also said monthly revenue exceeded pre-pandemic levels for the first time in March.
- JPMorgan Chase (Symbol: JPM) — The bank reported quarterly earnings of $2.63 per share, 6 cents shy of estimates, though revenue exceed Wall Street forecasts. JPMorgan’s profit was down 42% from a year ago as deal volume slowed and trading revenue declined. The stock fell 1.1% in the premarket.
- Bed Bath & Beyond (Symbol: BBBY) — The housewares retailer reported an adjusted quarterly loss of 92 cents per share, compared with analyst expectations of a 3-cents-per-share profit. Bed Bath & Beyond instituted price hikes during the quarter, but it was not enough to offset a surge in shipping costs and other adverse factors. Bed Bath & Beyond shares tumbled 8% in premarket trading.
- PayPal Holdings (Symbol: PYPL) — PayPal Chief Financial Officer John Rainey is leaving the payments company to take the same role at Walmart (WMT), effective June 6. Rainey will replace Brett Biggs, who was CFO since 2015. PayPal slid 3.5% in premarket action.
*Any information contained in this article, including any information contained in external third party links, if any, is solely for informational purposes and does not contain, or should not be construed as containing, investment advice or an investment recommendation, or, an offer of or solicitation for any transactions in financial instruments. Past performance does not guarantee or predict future performance. Colmex Pro Ltd does not take into account your personal investment objectives or financial situation and makes no representation, and assumes no liability to the accuracy or completeness of the information provided, nor for any loss arising from any investment based on presented information.