During Market hours yesterday – Tuesday (29.09.2020):

  • The market fell to their lows of the day after New York Mayor Bill de Blasio said the city’s daily positive coronavirus test rate was back above 3% for the first time in months. The Dow (Symbol: DIA) fell more than 0.5%, theS&P 500 (Symbol: SPY) went down 0.5% and the Nasdaq (Symbol: QQQ) dropped 0.4%
  • Beyond Meat (Symbol: BYND) Shares of the alternative meat maker jumped more than 9% after the company announced an expansion of its Walmart distribution deal. Beginning next week, Beyond Meat’s products will be offered in more than 2,400 Walmart stores across the U.S., up from around 800 locations at present.
  • United Airlines (Symbol: UAL), American Airlines (Symbol: AAL), Delta Air Lines (Symbol: DAL) Major airline stocks fell after two straight positive sessions amid rising concern that the coronavirus situation in the U.S. was worsening. Shares of United Airlines sank 4%, while American dropped 4% and Delta lost more than 2%.
  • RH (Symbol: RH) Shares of RH popped about 4% after Cowen upgraded the stock to outperform from market perform. The Wall Street firm said the furniture company is set to benefit from consumer investing more in their homes. The analyst also hiked his price target on the stock to $435 per share from $370 per share.
  • DraftKings (Symbol: DKNG), Penn National Gaming (Symbol: PENN) Gaming stocks fell sharply following news of positive Covid-19 tests among NFL players and staff for the Tennessee Titans. Shares of Penn National were down 4.8%, while DraftKings’ shares lost more than 2%.
  • Nio (Symbol: NIO) The China-based electric vehicle company jumped more than 10% after Deutsche Bank reiterated its buy rating and $24 price target on the stock. In a note the firm said Nio is “increasingly perceived by customers as a high-quality premium brand with best-in-class technology and service.”
  • Big Lots (Symbol: BIG) Big Lots rose nearly 4% after the retailer provided a better-than-expected earnings forecast. The company said it expects its third-quarter comparable sales to increase to mid-teens, while its earnings per share will be in the range of $0.50 to $0.70, versus a Refinitiv estimate of $0.21.
  • Fitbit (Symbol: FIT) Shares of Fitbit popped 5.7% after Reuters reported that Google is set to win EU antitrust approval for its $2.1 billion purchase of the fitness tracker maker. Google offered fresh concessions to the European Commission to address data privacy and other concerns, Reuters reported, citing people familiar with the matter.
  • Carnival (Symbol: CCL), Norwegian Cruise Line (Symbol: NCLH), Royal Caribbean (Symbol: RCL) Major cruise operators fell on fears about Covid-19 heading into the fall season. New York also reported an uptick in cases. Shares of Carnival fell 1.5%. Shares of Norwegian Cruise Line and Royal Caribbean dropped 0.7% and 2.5%, respectively.

During Premarket hours today – Wednesday (30.09.2020):

  • Palantir (Symbol: PLTR) Palantir will begin trading on the New York Stock Exchange today in a direct listing, with the NYSE setting a reference price of $7.25 per share for the data analytics company’s stock.
  • Asana (Symbol: ASAN) Asana will also begin trading today on the NYSE, with a reference price of $21 per share for the software company.
  • Micron Technology (Symbol: MU) Micron beat estimates by 9 cents a share, with quarterly earnings of $1.08 per share. The chip maker’s revenue also beat forecasts. Micron gave a lower-than-expected current-quarter revenue estimate.

*Any information contained in this article, including any information contained in external third party links, if any, is solely for informational purposes and does not contain, or should not be construed as containing, investment advice or an investment recommendation, or, an offer of or solicitation for any transactions in financial instruments. Past performance does not guarantee or predict future performance. Colmex Pro Ltd does not take into account your personal investment objectives or financial situation and makes no representation, and assumes no liability to the accuracy or completeness of the information provided, nor for any loss arising from any investment based on presented information.