During Market hours yesterday — (Tuesday – 14.12.2021):

  • GameStop (Symbol: GME), AMC Entertainment (Symbol: AMC) — Meme stocks rebounded from a steep sell-off in the previous session. GameStop last traded up about 1.2% after losing nearly 14% on Monday. AMC reversed 1.2% higher after dropping as much as 10% earlier in the day. The movie theater operator’s stock fell more than 15% in the prior session. These speculative trades were hit hard Monday amid a broad market sell-off, as investors dumped risky names after a head-turning year.
  • Beyond Meat (Symbol: BYND) — Shares of the alternative meat stock jumped 6.7% after Piper Sandler upgraded Beyond Meat to neutral from underweight. The investment firm said in a note that a potential product launch in McDonald’s in early 2022 could boost Beyond’s results.
  • Tesla (Symbol: TSLA) — Shares of the electric vehicle company fell 2.6% after CEO Elon Musk sold another $906 million of his shares on Monday. This brings the total amount of shares he’s sold to 11.9 million as of Tuesday, according to InsiderScore/Verity.
  • Terminix (Symbol: TMX) — The pest control company saw its stock soar roughly 18% after it agreed to be acquired by British rival Rentokil as it seeks to push further into the U.S. market, the largest in the world for pest control. The deal values Terminix at $6.7 billion.
  • Dell Technologies (Symbol: DELL) — Shares of Dell Technologies slipped 1.6% in midday trading after Evercore ISI downgraded the stock to in line from outperform. The Wall Street firm said after a 60% rally in 2021, upside is likely to be more muted.
  • Neogen (Symbol: NEOG) — Shares of Neogen rallied 7.9% after the company announced a deal to combine with 3M’s food safety business.
  • Ralph Lauren (Symbol: RL), Capri Holdings (Symbol: CPRI) — Ralph Lauren shares retreated 2.7% after Goldman Sachs double-downgraded the stock to a sell rating from a buy rating. The firm said Ralph Lauren’s brand health is fading and sees limited growth potential ahead. Meanwhile, Capri shares rose 1.7% after Goldman upgraded the Michael Kors-parent to a buy rating from neutral on margin improvements.

During Premarket hours today – (Wednesday – 15.12.2021):

  • Toyota (Symbol: TM) – Toyota gained 2.2% in premarket trading, after announcing it would produce a record 800,000 vehicles in January. Toyota is ramping up output to make up for prior production lost to parts shortages.
  • Vir Biotechnology (Symbol: VIR) – Vir Biotechnology is rallying 4.3% in the premarket, putting it in position to rise for a fifth straight day. The drugmaker announced further data showing that its Covid-19 antibody therapy – developed in partnership with GlaxoSmithKline (GSK) – was effective against the omicron variant.
  • RR Donnelley (Symbol: RRD) – RR Donnelley agreed to be acquired by Chatham Asset Management – the printing company’s top shareholder – for about $897 million. Donnelley terminated an earlier buyout deal it reached with private equity firm Atlas Holdings after determining that Chatham’s bid was a “superior proposal.” The stock fell 2.8% in the premarket.

*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.