During Market hours Yesterday – (Wednesday – 07.04.2021):
- Nasdaq (Symbol: QQQ) gained 0.24%. The S&P 500 (Symbol: SPY) went up 0.12%. The Dow (Symbol: DIA) closed at the same price as the previous day so didn’t move.
- Carnival (Symbol: CCL) , Norwegian Cruise Line (Symbol: NCLH) , Royal Caribbean (Symbol: RCL) — Shares of the major U.S. cruise lines jumped on Wednesday amid optimism about a swift economic recovery from the pandemic. Shares of Carnival gained 1.4%. Norwegian Cruise Line and Royal Caribbean gained 0.74% and 0.31%, respectively.
- AMC Entertainment (Symbol: AMC) —Shares of the movie theater stock dropped 3.4% after Loop reiterated its sell rating on AMC Entertainment. The Wall Street firm said “AMC’s competitive position…has not improved, its enterprise value has almost doubled while its closest competitor’s value has declined.”
- Dell (Symbol: DELL) – Shares of the computer company advanced 2.27% after Deutsche Bank called the stock a top recovery idea. “We believe its shares will continue to outperform as IT spending recovers as we go through this calendar year,” the firm wrote in a note to clients. Shares of Dell are up 25% for the year.
- Li Auto (Symbol: LI) — Shares of the China-based electric vehicle maker dropped 12.9% after the company announced a new $750 million debt offering to fund research and development. The stock has fallen 20% this year.
- Genworth Financial (Symbol: GNW) – Shares of the insurance company slid 3.7% after Genworth terminated its deal to be acquired by China Oceanwide Holdings.
- Qiagen (Symbol: QGEN) — The biotech stock rose 1.58% after Qiagen announced a new product to help sequence the genomes of the Covid-19 virus more quickly. Sequencing the genomes can help scientists detect new variants of the virus. The Netherlands-based company said its new testing kit could analyze more than 6,000 samples at the same time.
- Ebang International Holdings (Symbol: EBON) — Shares of the Chinese blockchain company fell 2.17% on Wednesday even as Ebang pushed back against a short-seller report from Hindenburg Research. The company said the report, released on Tuesday, contained “many errors, unsupported speculations and inaccurate interpretations of events.”
- Niu Technologies (Symbol: NIU) – Shares of Niu dipped 4.35% despite unveiling its first electric kick-scooter. The China-based company planning to make the two-wheeled transportation device available in North America, China and Europe this summer.
During Premarket hours today – (Thursday – 08.04.2021):
U.S. weekly jobless claims total 744,000, vs 694,000 estimate
- GameStop (Symbol: GME) – The video game retailer said board member and Chewy co-founder Ryan Cohen would become chairman of the board of directors following its annual meeting. GameStop gained 2.2% in premarket trading.
- Box (Symbol: BOX) – The cloud computing company announced a $500 million investment from funds run by private-equity firm KKR (Symbol: KKR), which will receive convertible preferred stock. Box will use the proceeds to repurchase up to $500 million of its common stock. Box shares tumbled 5.6% premarket.
- WW International (Symbol: WW) – Morgan Stanley downgraded the stock to “equal-weight” from “overweight,” noting its significant outperformance over the past 12 months and that shares of the company formerly known as Weight Watchers are now within about 5% of its price target. The stock fell 3.1% in premarket trading.
- Conagra Brands (Symbol: CAG) – The company behind food brands like Duncan Hines, Birds Eye and Healthy Choice reported quarterly earnings of 59 cents per share, a penny a share above estimates. Revenue topped forecasts as well. Conagra continues to see elevated demand stemming from more people staying at home during the pandemic. Conagra rose 1.1% in premarket trading.
- Apple (Symbol: AAPL) – Apple is delaying some production of MacBooks and iPads due to the shortages of computer chips and other components, according to Japan’s Nikkei news service. The shortage has not yet impacted product availability for consumers. Apple gained 1% in the premarket.
- Bilibili (Symbol: BILI) – Bilibili is denying a Reuters report that the online video site operator is in talks to buy a 24% stake in Yoozoo Games. The report had said the potential deal would see Bilibili buy both the stake as well as Yoozoo’s headquarters for about $765 million. Bilbili shares rose 2.1% in premarket action.
- Twitter (Symbol: TWTR) – Twitter held talks in recent months to buy audio-based social network Clubhouse for about $4 billion, according to a Bloomberg report. The talks stalled for an unknown reason, however, and are no longer ongoing. Twitter shares gained 1% in the premarket.
- Progress Software (Symbol: PRGS) – The business software company announced a $300 million offering of convertible debt. Progress shares fell 1.8% in premarket trading.
- Academy Sports + Outdoors (Symbol: ASO) – A nine million share block of the sporting goods and outdoor recreation retailer’s stock is being offered through JPMorgan Chase, according to sources who spoke to StreetAccount. The shares tumbled 5% in premarket action.
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