During Market hours yesterday (Tuesday – 17.01.2023)

  • The Dow (Symbol: DIA) went up -1.13%. The S&P 500 (Symbol: SPY) lost -0.18%. and the Nasdaq (Symbol: QQQ) went up +0.20%.
  • Goldman Sachs (Symbol: GS) — Shares of the Wall Street investment bank shed more than -6% after it reported its worst earnings miss in a decade. Goldman Sachs missed analysts’ estimates on both the top and bottom lines, with loan loss provisions coming in higher than expected.
  • Morgan Stanley (Symbol: MS) — The bank stock jumped +5.8% after the firm reported fourth-quarter earnings that exceeded Wall Street expectations. The results were boosted by the bank’s record wealth management revenue and growth at its trading business. CEO James Gorman said he’s more confident on the markets than the rest of Wall Street, seeing a return of deal-making as soon as the Federal Reserve stops hiking interest rates.
  • Roblox (Symbol: RBLX) — Shares of the video game company surged nearly +12% after Roblox’s December metrics report showed solid growth for users and bookings. The company said its daily active users rose by 18% year over year, while bookings rose by a range of 17% to 20%. Roblox and other video game companies refer to revenue as bookings.
  • Carvana (Symbol: CVNA) — The stock rose more than +4% after the auto retailer said it would adopt a tax asset preservation plan, enabling Carvana to maintain the availability of net operating loss carryforwards.
  • Snap (Symbol: SNAP) — The tech company lost -1.3% after being downgraded to market perform from market outperform by JMP Securities, which cited declining time spent on Snap and increased competition from Reels and YouTube shorts.

During Premarket hours today (Wednesday – 18.01.2023)

  • United Airlines (Symbol: UAL) – Shares of United Airlines rose +3.5% after the company reported quarterly earnings that topped Wall Street’s estimates for the fourth quarter, signaling strong demand amid higher prices. United posted adjusted earnings per share of $2.46 on $12.4 billion in revenue. Analysts expected adjusted earnings per share of $2.10 and $12.2 billion in revenue, per Refinitiv.
  • Moderna (Symbol: MRNA) – Moderna rose +7.5% after the pharmaceutical company said Tuesday that its RSV vaccine is 84% effective in preventing disease in older adults. A clinical trial also showed no safety concerns for the vaccine, which uses the same messenger RNA technology as the Moderna Covid-19 shot.
  • IBM (Symbol: IBM) — IBM shares dipped about -2% before the bell after Morgan Stanley downgraded the stock to equal weight from an overweight rating, and cited concerns of decelerating revenue growth.
  • Oatly (Symbol: DIA) — The food stock jumped +6.7% following an upgrade by analysts at Mizuho, citing improving liquidity. After a difficult 2022, the firm also said Oatly should benefit from resilient demand plant-based beverages.

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