During Market hours yesterday – (Tuesday – 23/03/2021):
- Nasdaq (Symbol: QQQ) lost 0.44%. The S&P 500 (Symbol: SPY) slid 0.79%. The Dow (Symbol: DIA) went down 0.97%.
- Microsoft (Symbol: MSFT) — Shares of the tech giant jumped about 0.65% as the company reportedly looks to buy Discord, according to Bloomberg. The chat app popular with video gamers is reportedly for sale for around $10 billion, according to people cited in Bloomberg’s article.
- Boeing (Symbol: BA) — The industrial giant saw its stock dropping 3.97% after the company reached a deal for a $5.28 billion two-year revolving credit agreement. Boeing was originally in the market for a $4 billion deal. The aerospace company still grapples with prolonged slowdown in commercial air travel triggered by the pandemic.
- ViacomCBS (Symbol: VIAC) — Shares of the media company fell 9.06% after ViacomCBS announced that it was selling $3 billion combined of common and preferred stock. The company said it would use the money for general corporate purposes, including streaming video. ViacomCBS’s class B shares are still up nearly 150% year to date.
- Peloton (Symbol: PTON) — The at-home fitness start-up’s shares gained more than 3.45% after Bloomberg News reported a flurry of deal-making activities. Peloton recently bought three companies with technology and expertise in wearable devices, artificial intelligence, digital voice assistants, and interactive workout mats, Bloomberg reported.
- Discovery (Symbol: DISCA) — Shares of Discovery dropped 3.98% after UBS downgraded the media company’s stock to sell from neutral. The Wall Street firm cited Discovery’s valuation after the stock nearly quadrupled over the past 12 months.
- Tencent (Symbol: TME) — Tencent shares advanced more than 2.95% after the company announced a multiyear agreement with Warner Music. The companies also announced that they will launch a new joint venture record label.
- AstraZeneca (Symbol: AZN) — Shares of the drugmaker fell 3.52% after a Data Safety Monitoring Board raised concern that AstraZeneca may have included outdated information in its initial release of Covid-19 vaccine trial data. The company said that the figures it published on Monday were based on data through February 17.
During Premarket hours today – (Wednesday – 24.03.2021):
- Intel (Symbol: INTC) – Intel said it would spend $20 billion to build two new plants at existing facilities in Arizona, in an effort to grab more market shares and fill gaps created by a worldwide chip shortage. Intel aims to start production at the new plants by 2024. Intel shares rose 4% in premarket trading, while shares of competitor Taiwan Semiconductor (Symbol: TSM) fell 2.1% following Intel’s announcement.
- GameStop (Symbol: GME) – GameStop reported quarterly earnings of $1.34 per share, missing forecasts by a penny a share. Revenue also came in below consensus. The videogame retailer did not address the Reddit-fueled trading frenzy in its stock during its earnings conference call, but in a Securities and Exchange Commission filing said it was considering the idea of raising money by selling shares to fund its ongoing transformation. The stock tumbled 12% in premarket trading.
- ViacomCBS (Symbol: VIAC) – The media company’s shares fell another 7% in the premarket after sinking 9.1% Tuesday on news of a $3 billion stock offering.
- General Mills (Symbol: GIS) – The food producer fell 2 cents a share shy of Wall Street forecasts, with quarterly earnings of 82 cents per share. Revenue exceeded estimates and General Mills said expects demand for food at home to remain elevated relative to pre-pandemic levels. Its shares were down 1.9% in the premarket.
- Winnebago (Symbol: WGO) – The company’s shares gained 3.7% in premarket action after the recreational vehicle maker reported quarterly profit of $2.12 per share, compared to a $1.42 a share consensus estimate.
- Adobe (Symbol: ADBE) – Adobe beat estimates by 35 cents a share, with quarterly profit of $3.14 per share. The software company’s revenue came in above estimates as well and Adobe issued strong current-quarter and full-year earnings guidance on strength in its flagship Creative Cloud suite and other cloud-based offerings. Adobe rose 1.2% in premarket action.
- Amazon.com (Symbol: AMZN) – Amazon named Adam Selipsky as CEO of its Amazon Web Services unit, effective when current chief Andy Jassy replaces Jeff Bezos as Amazon CEO later this year. Selipsky had been an executive at Amazon Web Services to become CEO of Tableau Software, which has since been acquired by Salesforce.com (CRM). Amazon rose 1% in premarket trading.
- Bank of New York Mellon (Symbol: BK) – The bank’s shares climbed 1.3% in the premarket following a double upgrade from Bank of America Securities to “buy” from “underperform.” BofA said its call is based on attractive valuation as well as an improving profit outlook.
- AMC Entertainment (Symbol: AMC) – AMC shares fell another 2.1% in premarket trading following Walt Disney’s (Symbol: DIS) announcement that it would delay the release of its “Black Widow” movie by two months, and offer it simultaneously in theaters and on its Disney+ service for a fee. The movie theater operator’s shares had plummeted 14.7% yesterday and 10.3% on Monday.
- Steelcase (Symbol: SCS) – Steelcase earned 6 cents per share for its latest quarter, compared to a consensus estimate of a 1 cent per share loss. The office furniture maker’s revenue came in above forecasts as well. The company gave a weaker-than-expected forecast, however, as demand for office products continues to be weak. Its shares lost 3.4% in the premarket.
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