During Market hours yesterday (Tuesday – 15.02.2022)

The SPX500, DJ30, and NASDAQ100 all increased in anticipation of a possible de-escalation of hostilities in Eastern Europe. Yesterday, Tech companies were among the SPX500’s highest performances. Below some of the most representative highlights:

  • The Dow (Symbol: DIA) went up 1.25%. The S&P 500 (Symbol: SPY) rose 1.61% and the Nasdaq (Symbol: QQQ) gained 2.49%.
  • MoneyGram International (Symbol: MGI) — The global remittance company’s shares surged by 19.5% following news that the private equity firm Madison Dearborn Partners will acquire MoneyGram in a deal valued at about $1.8 billion.
  • Fidelity National Information (Symbol: FIS) — Financial services technology firm FIS fell more than 7.8% and was one of the top decliners in the S&P 500 after reporting results for the most recent quarter. Revenue came in at $3.67 billion, compared to FactSet estimates of $3.71 billion. Current-quarter earnings and revenue guidance fell short of estimates as well.
  • Constellation Brands (Symbol: STZ) — The alcoholic beverage maker’s shares fell 6% following a Bloomberg News report that discussions of a merger with Monster Beverage are progressing and that an agreement between the two companies could be reached within weeks. Monster shares ticked up slightly.
  • Marriott International (Symbol: MAR) — Shares of the hotel chain jumped 5.7% after Marriott beat estimates on the top and bottom lines for the fourth quarter. The company reported $1.30 in adjusted earnings per share on $4.45 billion of revenue, powered by the continued recovery in global travel. Analysts surveyed by Refinitiv were expecting 99 cents in earnings per share on $3.96 billion of revenue.
  • Avis Budget Group (Symbol: CAR) — The car rental company saw its shares fall 12% even after it posted a better-than-expected profit and revenue for its latest quarter and showed increases in rental activity and in revenue per day that helped offset higher expenses. For the quarter, Avis earned $7.08 per share, beating a Refinitiv estimate of $6.15 per share.
  • General Electric (Symbol: GE) — Shares of the industrial conglomerate rose 4.4% after Bank of America reiterated its buy rating on the stock, as GE continues to make progress in reducing legacy issues, the firm said Tuesday. Those issues include the end of factoring repayment, normal pension levels, lower long-term care risks, declining corporate costs and decreased cash restructuring.
  • Airbnb (Symbol: ABNB) — The stock rose 6.1% after KeyBanc reiterated its overweight rating on the company ahead of its earnings report Tuesday afternoon. “While we believe there is some risk to near-term bookings growth from omicron headwinds, we believe pent-up demand for U.S. and international travel can lead to further revenue and EBITDA upside in 2022E,” analysts at KeyBanc said.

During Premarket hours today (Wednesday – 16.02.2022):

  • Shopify (Symbol: SHOP) — Shopify fell 4% in premarket action despite reporting better-than-expected quarterly profit and revenue. The e-commerce platform operator said revenue growth for 2022 would be slower than the 57% it achieved in 2021.
  • Kraft Heinz (Symbol: KHC) — The food maker’s stock was up 1.3% in the premarket after reporting its adjusted quarterly profit of 79 cents per share beat estimates by 16 cents. Revenue was also above Wall Street forecasts.
  • Trade Desk (Symbol: TTD) — The stock surged 4% in the premarket after the programmatic ad company reported adjusted quarterly earnings of 42 cents per share, 14 cents above estimates, with revenue also topping Wall Street forecasts.
  • ViacomCBS (Symbol: VIAC) — ViacomCBS announced it will change its corporate name to Paramount Global, effective Thursday, in an effort to emphasize its Paramount+ streaming service and to take advantage of Paramount’s brand recognition. Separately, the media company reported an adjusted quarterly profit of 26 cents per share, missing the 43-cent consensus estimate. Shares slumped 12% in premarket trading.
  • Airbnb (Symbol: ABNB) — Airbnb reported record revenue for 2021, better-than-expected fourth-quarter results, and issued an upbeat current-quarter forecast. The home rental company benefited from consumer preferences shifting away from hotels during the pandemic and said current-quarter bookings are likely to exceed pre-pandemic levels for the first time. Airbnb shares rallied 3.5% in the premarket.
  • Roblox (Symbol: RBLX) — Roblox stock plummeted 16% in premarket action after reporting a loss of 25 cents per share for its latest quarter, nearly double the 13-cent loss analysts had anticipated. The social gaming platform operator also saw lower-than-expected revenue amid flat daily active user metrics and engaged gaming hours that fell short of forecasts.

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