During Market hours yesterday (Tuesday – 17.05.2022)

  • The Dow (Symbol: DIA) went up 1.34%. The S&P 500 (Symbol: SPY) gained 2%. and the Nasdaq (Symbol: QQQ) rose 2.6%.
  • Walmart (Symbol: WMT) — Shares dropped over 11% after the big-box retailer reported quarterly earnings that significantly missed Wall Street’s expectations. Walmart posted adjusted first-quarter earnings of $1.30 per share on revenue of $141.57 billion. Analysts had expected a profit of $1.48 per share on revenue of $138.94 billion, according to Refinitiv consensus estimates. Walmart cited cost pressures from rising fuel prices, higher inventory levels and overstaffing.
  • Citigroup (Symbol: C) — The bank stock rallied 7.7% the day after a regulatory filing revealed that Warren Buffett’s Berkshire Hathaway added more than 55 million shares to build a stake worth $2.95 billion in the first quarter. Shares of Citi have been underperforming the financial sector over the past 12 months and are still down 15% this year.
  • Paramount Global (Symbol: PARA) – Paramount shares surged more than 15% after Berkshire Hathaway revealed a stake worth $2.6 billion in the media company. At the end of the quarter, the media company was Berkshire’s 18th-largest holding.
  • United Airlines (Symbol: UAL) – Shares of the air carrier jumped more than 7% after the Federal Aviation Administration cleared 52 Boeing 777 planes to fly again, after they were grounded for engine failure. The planes represent 10% of United’s capacity. United has said it plans to bring the planes back gradually starting later this month.
  • Take-Two Interactive Software (Symbol: TTWO) — Shares surged 11% despite light guidance and a miss on a bookings metric from the video game company. Analysts are expecting a better outlook after the company closes a pending acquisition of Zynga.
  • AMD (Symbol: AMD) – Shares of the semiconductor stock jumped 8.7% after Piper Sandler upgraded Advanced Micro Devices to overweight from neutral and said shares could rally nearly 50% after dipping this year.

During Premarket hours today (Wednesday – 18.05.2022)

  • Target (Symbol: TGT) – Target plummeted 22.1% in the premarket after the retailer reported an adjusted quarterly profit of $2.19 per share, below the $3.07 consensus estimate. Revenue and comparable-store sales beat forecasts, but like rival Walmart yesterday, higher costs ate into Target’s bottom line.
  • Penn National Gaming (Symbol: PENN) – The casino operator’s shares rallied 3.2% in the premarket after Jefferies upgraded the stock to “buy” from “hold,” noting the current stock price only assigns minimal value to Penn’s digital operation. Jefferies feels the unit could demonstrate good returns over time.
  • Container Store (Symbol: TCS) – Container Store surged 8.2% in the premarket after reporting better-than-expected profit and revenue for its latest quarter. The storage and organization products retailer also said it aimed to achieve $2 billion in annual sales by 2027.
  • Doximity (Symbol: DOCS) – Doximity plunged 14.5% in premarket action after the cloud-based platform for medical professionals issued a weaker than expected current-quarter revenue forecast. Doximity also reported better-than-expected quarterly profit and revenue.

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