Yesterday, US stock market rose as fears over rate hikes by central banks evaporated. Below some of the most representative highlights:
- The Dow (Symbol: DIA) went up 0.88%. The S&P 500 (Symbol: SPY) gained 1.46% and the Nasdaq (Symbol: QQQ) jumped 2.12%.
- CVS Health (Symbol: CVS) — Shares of the drugstore chain fell 5.4% even after the company topped expectations in its fourth-quarter earnings report, as demand for at-home Covid tests and vaccines lifted overall store sales. The drugstore chain administered more than 20 million Covid vaccines in the three-month period, a significant jump from the number it gave in each of the prior two quarters.
- Enphase Energy (Symbol: ENPH) — The energy stock surged 12% following the company’s quarterly earnings, which showed record revenues for the fourth quarter and beats on both the top- and bottom-lines. Enphase earned an adjusted 73 cents per share, as compared with estimates of 58 cents. Revenue came in at $412.7 million, compared to expectations of $397 million.
- Chipotle (Symbol: CMG) — Shares of the burrito chain jumped 10.2% after the company topped Wall Street’s estimates for its fourth-quarter earnings and met its expectations for revenue. Chipotle also reported a 22% increase in net sales to $1.96 billion for the quarter, meeting expectations.
- Lyft (Symbol: LYFT) — Shares of the ride-hailing company rose 6.8% after beating on the top and bottom lines of its quarterly results. Gains were capped by the fact that Lyft reported fewer active riders than in the prior quarter.
- Joby Aviation (Symbol: JOBY) — The aircraft company’s shares jumped 7.1% after Morgan Stanley reiterated its buy rating on it and pointed to its partnership with Uber as an opportunity to elevate growth.
- Virgin Galactic (Symbol: SPCE) — Virgin Galactic shares rose 4.9% even after Bernstein lowered its price target on the stock to $10 from $22, saying it worries about market appetite for space tourism investing and noting talent retention and access to capital as potential risks.
- General Motors (Symbol: GM) — Shares of GM rebounded Wednesday after pulling back the previous session following a downgrade from Morgan Stanley. The stock rallied 2.5%, even as another firm, Nomura, also downgraded the stock.
During Premarket hours today (Thursday – 10.02.2022)
- Coca-Cola (Symbol: KO) — Coca-Cola shares added 1.3% in the premarket after the company beat estimates by 4 cents with adjusted quarterly earnings of 45 cents per share. Revenue also beat Wall Street forecasts, and Coca-Cola projects commodity price inflation will be in the mid-single-digit percentage range for 2022.
- Twitter (Symbol: TWTR) — Twitter jumped 6.6% in premarket action, despite reporting top and bottom-line misses for its latest quarter. Twitter also announced a new $4 billion stock buyback program.
- Canada Goose (Symbol: GOOS) — The maker of winter wear saw its shares tumble 10.3% in premarket trading after its earnings fell below analyst forecasts, although revenue topped predictions. Canada Goose cut its full-year forecast, as Covid-related restrictions impact demand for its parkas and footwear.
- Walt Disney (Symbol: DIS) — Disney surged 7.5% in premarket trading after beating Wall Street forecasts on the top and bottom lines for its latest quarter. Disney earned an adjusted $1.06 per share, well above the 63 cents per share consensus estimate, helped by growth in its Disney+ subscriber base and as record profit from its theme parks.
- Uber Technologies (Symbol: UBER) — Uber reported better-than-expected quarterly results as its ride-hailing business rebounded. The company continued to see strong demand in its Uber Eats food delivery business. Shares gained 5.8% in premarket trading.
- Twilio (Symbol: TWLO) — Twilio rocketed 19.8% higher in premarket action after the communications software company reported a narrower-than-expected quarterly loss and revenue that was well above estimates. Twilio also issued an upbeat current-quarter revenue outlook.
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