During Market hours Yesterday (Wednesday – 05.01.2022):

  • The Dow (Symbol: DIA) went down 1.03%. The S&P 500 (Symbol: SPY) lost 1.92% and the Nasdaq (Symbol: QQQ) fell 3.07%.
  • Salesforce (Symbol: CRM), Adobe (Symbol: ADBE) — The software stocks fell more than 4% each after UBS downgraded both companies to neutral from buy. UBS said that enterprise tech spending was pulled forward by the pandemic, leading to slower growth for Salesforce and Adobe in 2022.
  • Enphase Energy (Symbol: ENPH) — Shares of Enphase dropped 7.5% after Bank of America downgraded the stock to neutral from buy. The Wall Street firm also slashed its price target to $187 per share from $297 per share.
  • Alibaba (Symbol: BABA) — Shares of the Chinese e-commerce giant jumped almost 5% after Charlie Munger’s Daily Journal nearly doubled its stake in the stock. A regulatory filing Tuesday showed that Daily Journal now owns more than 600,000 shares of Alibaba.
  • Pfizer (Symbol: PFE) — Shares of the Covid-19 vaccine maker jumped 1.8% following an upgrade to buy from neutral from Bank of America. The firm noted that the financial success of the company’s Covid vaccines and oral treatments puts it on strong footing for years ahead.
  • Nikola (Symbol: NKLA) — Shares of the electric truck maker added more than 3% in midday trading after logistics company USA Truck announced a deal to buy 10 electric Nikola trucks.
  • Garmin (Symbol: GRMN) — Shares of Garmin rose 3% after Deutsche Bank upgraded the stock to buy from hold. The Wall Street firm said it likes Garmin’s “high quality” financials.

During Premarket hours today (Thursday – 06.01.2022):

U.S. weekly jobless claims total 207,000, vs 195,000 estimate

  • Walgreens (Symbol: WBA) — The drug store operator’s shares gained 2.9% in the premarket, after beating estimates on both the top and bottom lines for its latest quarter. Walgreens earned an adjusted $1.68 per share, compared with the $1.33 consensus estimate, boosted by demand for Covid-19 vaccinations and testing.
  • Bed Bath & Beyond (Symbol: BBBY) — The housewares retailer tumbled 9.3% in premarket trading, after reporting an adjusted quarterly loss of 25 cents per share compared with a consensus estimate of breakeven. Overall and comparable-store sales also fell below Wall Street forecasts.
  • Helen of Troy (Symbol: HELE) — Helen of Troy shares added 2.2% in premarket trading after the household products company beat consensus estimates in its latest quarter and raised its earnings outlook. Helen of Troy reported an adjusted quarterly profit of $3.72 per share, well above the $3.11 that analysts were expecting. Results were driven by double-digit growth in housewares and beauty products.
  • Coinbase (Symbol: COIN) — Coinbase reversed an earlier premarket slide and rose 1%, following an upgrade to “buy” from “neutral” at BofA Securities. Coinbase initially extended yesterday’s 6.4% loss after the cryptocurrency exchange operator’s shares fell for four straight days as crypto prices tumbled, with losses accelerating following yesterday’s release of Fed meeting minutes.

*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.