During Market hours yesterday — (Tuesday – 16.11.2021):
- The Dow (Symbol: DIA) went up 0.2%. The S&P 500 (Symbol: SPY) rose 0.4% and the Nasdaq (Symbol: QQQ) went up 0.7%.
- Home Depot (Symbol: HD) — Shares of Home Depot jumped more than 5% after the home improvement retailer beat on earnings. The company reported earnings of $3.92 per share on revenue of $36.82 billion. Analysts expected earnings of $3.40 on revenue of $35.01 billion, according to Refinitiv.
- Robinhood (Symbol: HOOD) — Shares of the stock trading app ticked 4.6% lower in midday trading after Atlantic Equities downgraded Robinhood to neutral from buy, saying in a note to clients that there is little reason for shares to rebound in the coming months with such inconsistent growth.
- SoFi Technologies (Symbol: SOFI) — Shares of the fintech company dropped more than 5% in midday trading after announcing a secondary offering of 50 million shares of its common stock by certain selling shareholdings.
- Peloton (Symbol: PTON) — Shares of the stationary bike company popped more than 11% in midday trading after announcing it plans to sell roughly 23.9 million shares of its Class A common stock at a public offering price of $46, netting the company about $1.07 billion. The announcement comes as Peloton is looking for ways to shore up cash amid slowing momentum for its products.
- Rivian (Symbol: RIVN) — Rivian shares continued to rally less than a week after the company went public in one of the biggest IPOs of the year. The stock rose more than 8% in midday trading, signaling investors are bullish on the Tesla rival backed by Amazon and Ford.
- Rackspace Technology (Symbol: RXT) — Shares of the cloud computing company soared 12% in midday trading after beating estimates by a penny with adjusted quarterly earnings of 25 cents per share. Rackspace Technology’s revenue also topped Wall Street forecasts. It was Rackspace’s 8th consecutive quarter of revenue growth, and the company said it was well positioned in a booming market.
- QuantumScape (Symbol: QS) — The battery stock dropped 10% on Tuesday after Morgan Stanley downgraded QuantumScape to neutral from buy. The investment firm said that rising competition would eat away at the company’s technology lead in the race for next generation batteries.
- Floor & Decor (Symbol: FND) — Shares of the flooring company jumped more than 4% after Warren Buffett’s Berkshire Hathaway disclosed a near $100 million stake in a regulatory filing Monday evening. The conglomerate bought 816,900 shares of Floor & Decor in the third quarter, the filing showed. Floor & Decor has rallied more than 40% this year following a nearly 83% jump in 2020 on the back of the pandemic boom.
- Lucid Group (Symbol: LCID) — Shares of the electric vehicle maker surged more than 15% a day after reporting more than 17,000 reservations for its “Air” sedan, up from 13,000 in the prior quarter. Lucid also confirmed its 2022 production targets.
During Premarket hours today – (Wednesday – 17.11.2021):
- Lowe’s (Symbol: LOW) – Lowe’s rose 2.5% in the premarket after beating estimates on the top and bottom lines and raising its annual revenue forecast. The home improvement retailer earned an adjusted $2.73 per share for the third quarter, 37 cents above estimates, with comparable store sales up 2.2%. Analysts had expected comp sales to decline by 1.5%.
- Target (Symbol: TGT) – Target reported an adjusted quarterly profit of $3.03 per share, beating consensus estimates by 20 cents, with revenue also above Street projections. Comparable store sales rose 12.7% compared with forecasts of an 8.2% increase.
- Lucid Group (Symbol: LCID) – The electric vehicle maker rose another 10.3% in the premarket following a nearly 24% surge Tuesday. Yesterday’s rally came amid Lucid’s statement that it was seeing “significant demand” for its Lucid Air model.
- La-Z-Boy (Symbol: LZB) – La-Z-Boy jumped 5.6% in premarket trading after the furniture maker beat estimates by 8 cents with a quarterly profit of 85 cents per share. Revenue also beat forecasts, and the company said it continues to see strong consumer demand although it has been impacted by supply chain disruptions.
- Baidu (Symbol: BIDU) – Baidu beat estimates on the top and bottom lines for its latest quarter, with the China-based e-commerce company benefiting from stronger ad sales as well as strength in cloud and artificial intelligence products. Baidu added 1.2% in the premarket.
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