During Market hours Yesterday — (Wednesday – 06.04.2022)
- The Dow (Symbol: DIA) went down 0.46%. The S&P 500 (Symbol: SPY) lost 1.00% and the Nasdaq (Symbol: QQQ) dropped 2.17%.
- JetBlue (Symbol: JBLU) — Shares of JetBlue fell another 8.7% on Wednesday, as investors weighed the airline’s $3.6 billion cash offer to take over rival Spirit Airlines. The move also comes after Raymond James downgraded JetBlue to market perform from outperform. Spirit Airlines shares fell more than 2%.
- Eli Lilly (Symbol: LLY) — The pharmaceutical stock gained 4.6% after Morgan Stanley named Eli Lilly a top pick. The investment firm said Eli Lilly had the “most robust new product cycle” outlook in the industry.
- Rivian (Symbol: RIVN) — Shares of the electric vehicle company fell 5% after Rivian said it was on pace to achieve its previously stated production target of 25,000 electric vehicles this year.
- Occidental Petroleum (Symbol: OXY) — The energy producer’s shares added 0.7% after Stifel initiated coverage with a buy rating. Stifel said Occidental remains “attractively valued” even after the stock is the best-performing name in the S&P 500 this year.
- Intel (Symbol: INTC) — Intel’s stock fell 1.2% after the chip maker announced it suspended business operations in Russia. Last month, Intel halted semiconductor shipments to customers in Russia and Belarus.
- Twitter (Symbol: TWTR) — Shares of the social media company fell slightly after rising for three straight days. The stock surged earlier this week, as investors grew optimistic about Elon Musk’s big investment in the company. Musk will join its board of directors, and he teased “significant improvements” in the coming months.
During Premarket hours today (Thursday – 07.04.2022)
- Conagra (Symbol: CAG) – The food producer’s stock tumbled 5.5% in the premarket after issuing a weaker-than-expected forecast for the fiscal year ending in May. Conagra’s results are being hit by higher transportation and raw materials costs.
- HP Inc. (Symbol: HPQ) – HP is surging 15.2% in premarket trading following news that Warren Buffett’s Berkshire Hathaway took an 11.4% stake in the maker of personal computers and printers.
- Rite Aid (Symbol: RAD) – The stock tumbled 18.3% in premarket action after Deutsche Bank downgraded the drugstore operator to “sell” from “hold.” Deutsche Bank said Covid hastened the decline of the retail pharmacy segment, and there’s a possibility that Rite Aid may not be able to generate enough earnings to continue as an operating company.
- CDK Global (Symbol: CDK) – The provider of automotive retail technology agreed to be bought by Brookfield Business Partners for $54.87 per share in cash. The price represents a 12% premium over CDK’s Wednesday closing price.
- SoFi Technologies (Symbol: SOFI) – The online personal finance company’s shares slid 5.1% in the premarket after cutting its full-year outlook. The cut follows the White House announcing a student loan payment moratorium will be extended.
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