During Market hours Yesterday (Wednesday – 09.03.2022)

Despite ongoing violence on the ground, all three US markets rose yesterday as signals of diplomacy between warring Ukraine and Russia emerged. Below some of the most representative highlights:

  • The Dow (Symbol: DIA) went up 2.10%. The S&P 500 (Symbol: SPY) earned 2.68% and the Nasdaq (Symbol: QQQ) jumped 3.60%.
  • Bumble (Symbol: BMBL) — Shares of the online dating company surged nearly 42% Wednesday. Fourth-quarter revenue was just short of expectations from Refinitiv. Still, BMO upgraded Bumble to outperform from market perform, saying in a note to clients Wednesday that the stock still had significant room to run.
  • Netflix (Symbol: NFLX) — Shares rallied 5% after Wedbush upgraded the streaming company to a neutral rating from outperform. “While we do not anticipate significant share price appreciation in the near-term, Netflix’s first-mover advantage and large subscriber base provides the company with a nearly insurmountable competitive advantage over its streaming peers,” Wedbush said in a note.
  • General Electric (Symbol: GE) — Shares of General Electric rose 3.5% following news that the company’s board of directors approved a $3 billion share repurchase program.
  • Amazon (Symbol: AMZN) — The e-commerce stock spiked more than 2% on Wednesday. Barclays maintained its overweight rating on the firm, saying the tech giant will see upward estimate revisions “likely this year” after tilting further into higher-margin business units like AWS.
  • PayPal (Symbol: PYPL) — PayPal surged nearly 6% in trading Wednesday. It was downgraded by Bank of America on Wednesday, which said in its note to clients that the stock is too “difficult” to recommend right now until it proves its mettle on the operations side.
  • Boeing (Symbol: BA) — Boeing spiked nearly 3% on Wednesday after Langenberg & Company initiated coverage of the aerospace firm with a buy rating. The move was spurred by “accelerating commercial aerospace recovery and expectations that international travel returns to 75-80% of norm by end of 2022,” analysts wrote.
  • Starbucks (Symbol: SBUX) — Shares of Starbucks rose about 4.3% on Wednesday following an announcement on Tuesday that the coffee retailer would suspend operations in Russia.

During Premarket hours today (Thursday – 10.03.2022)

  • Amazon.com (Symbol: AMZN) — Amazon jumped 5.3% in the premarket after it announced a 20-for-1 stock split and a $10 billion share buyback program. The 20-for-1 split follows a similar move by Google parent Alphabet (GOOGL) earlier this year and is reviving discussion about whether Amazon or Alphabet might become members of the Dow Jones Industrial Average.
  • Boeing (Symbol: BA) — The FAA has finalized safety directives aimed at fixing Pratt & Whitney engine issues on certain Boeing 777 jets. Boeing must now lay out the steps airlines will need to take to meet the FAA’s requirements. Boeing fell 1.5% in the premarket.
  • CrowdStrike (Symbol: CRWD) — CrowdStrike surged 12.5% in premarket trading after reporting better-than-expected quarterly profit and revenue. The cybersecurity company also issued an upbeat 2022 forecast. CrowdStrike said it would strongly pursue market share as cybersecurity demand accelerates.
  • JD.com (Symbol: JD) — JD.com reported better-than-expected profit and revenue for its latest quarter as more shoppers used its e-commerce platform. But the China-based company also reported its slowest revenue growth since early 2020. Its stock slid 7% in the premarket.

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