During Market hours yesterday (Tuesday – 31.05.2022)

  • The Dow (Symbol: DIA) went down 0.56%. The S&P 500 (Symbol: SPY) lost 0.56%. and the Nasdaq (Symbol: QQQ) fell 0.27%.
  • Marathon Oil (Symbol: MRO), Diamondback Energy (Symbol: FANG) — Energy stocks rose along with oil prices after an agreement from European Union leaders to ban most crude imports from Russia stoked inflation fears. However, they pulled back later in the day on a news report that OPEC was considering suspending Russia from an oil-production deal. Shares of Marathon Oil gained 1.2%. Shares of Diamondback Energy declined 0.4%.
  • Alibaba (Symbol: BABA), JD (Symbol: JD), Baidu (Symbol: BIDU) — A slew of Chinese stocks listed in the U.S. rallied after the country’s Covid-19 lockdown measures eased. Alibaba jumped 2.8%, while JD advanced 4.6%. Internet giant Baidu edged up 0.9%. The lockdown in Shanghai was announced in March and had been an overhang for the Chinese stock market.
  • Unilever (Symbol: UL) — The consumer products company saw its shares jump 9.9% after it named activist investor Nelson Peltz to its board. The CEO and founding partner of Trian Fund Management acquired a 1.5% stake in the company, and his new role will become effective July 20.
  • Nio (Symbol: NIO) — Shares jumped 5% following a note from Morgan Stanley that said the China-based electric vehicle maker could rebound as soon as the next 15 days. Analysts said Nio is set for a boost as China lifted some Covid restrictions over the weekend.
  • American Eagle Outfitters (Symbol: AEO) — The apparel retailer’s shares slid 7.5% after Morgan Stanley downgraded the stock to underweight and said further downside could come. The bank cited risks to margins and sales among the reasons for the downgrade.

During Premarket hours today (Wednesday – 01.06.2022)

  • Capri Holdings (Symbol: CPRI) – The parent of luxury brands, like Michael Kors, Versace and Jimmy Choo, saw its stock surge 11% in the premarket after posting better-than-expected quarterly numbers before giving back nearly all those gains. Capri earned an adjusted $1.02 per share, 20 cents above estimates, and managed to expand profit margins in the face of pandemic-related issues. However, the company issued a lighter-than-expected revenue forecast for the full year.
  • Salesforce (Symbol: CRM) – Salesforce rallied 9.1% in the premarket after beating analyst estimates by 4 cents with an adjusted quarterly profit of 98 cents per share. The business software giant also beat revenue forecasts and raised its full-year guidance amid continued strong demand.
  • Victoria’s Secret (Symbol: VSCO) – Victoria’s Secret jumped 6.8% in premarket trading despite posting a mixed quarter. The intimate apparel retailer’s adjusted earnings of $1.11 per share for its latest quarter beat the 84-cent consensus estimate, and revenue matched forecasts. Current-quarter earnings guidance fell below some forecasts. The company was able to negate the bottom-line impact of supply chain issues and muted consumer spending.
  • Li Auto (Symbol: LI) – The China-based electric vehicle maker delivered 11,496 vehicles in May, up 166% from a year earlier. Li shares added 2% in the premarket.
  • Nio (Symbol: NIO) – Nio delivered 7,024 vehicles in May, a 4.7% rise from a year earlier. The China-based electric vehicle maker also said vehicle deliveries are up 11.8% for 2022 compared with the first five months of 2021. Nio rose 1.6% in premarket trading.

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