During Market hours Yesterday — (Wednesday – 09.11.2022):
- The Dow (Symbol: DIA) went down -1.92%. The S&P 500 (Symbol: SPY) lost -2.06%. and the Nasdaq (Symbol: QQQ) fell -2.31%.
- Disney (Symbol: DIS) — Shares of the media giant slid more than -11% after the company’s quarterly results missed Wall Street expectations on revenue and profit, as both its parks and media divisions underperformed estimates. Disney warned that strong streaming growth for its Disney+ platform may taper going forward. Chief Financial Officer Christine McCarthy tempered investor expectations for the new fiscal year, forecasting revenue growth of less than 10%.
- Meta Platforms (Symbol: META) — The stock jumped +8% after the company announced it will lay off more than 11,000 employees. In a letter to the staff, CEO Mark Zuckerberg said he is “sharing some of the most difficult changes we’ve made in Meta’s history.” Analysts at UBS were encouraged by Meta’s announcement.
- Affirm (Symbol: AFRM) — The stock plunged -18% after Affirm disappointed on earnings per share expectations, and issued weaker-than-expected guidance for its fiscal second quarter.
- AMC Entertainment (Symbol: AMC) — Shares dropped -9.8% after the company reported another quarterly loss as operational costs increased. However, the company lost less per share than expected and beat the Wall Street forecast for revenue. Tuesday’s report comes after years of struggling for the movie theater chain as the pandemic prompted a rise of releases going directly to streaming services.
- Lucid Group (Symbol: LCID) — Shares of the RV maker lost almost -18% after the company reported a third-quarter loss and said plans to raise $1.5 billion through stock sales to fund the electric vehicle maker’s operations.
- Roblox (Symbol: RBLX) — Shares tumbled more than -20% after the company reported a bigger loss than expected for the third quarter. The video-game company had a loss per share of 50 cents, versus 35 cents expected by analysts, according to Refinitiv. However, Roblox beat on bookings revenue.
During Premarket hours today — (Thursday – 10.11.2022):
- Nio (Symbol: NIO) – The China-based electric car maker posted a wider-than-expected quarterly loss, but said it expected deliveries to nearly double in the current quarter from a year ago. Nio shares jumped +5.5% in premarket trading.
- WeWork (Symbol: WE) – The office-sharing company’s stock fell -1.7% in the premarket after it reported a wider-than-expected quarterly loss. WeWork also plans to exit about 40 underperforming locations this month.
- Rivian (Symbol: RIVN) – Rivian rallied +8.2% in off-hours trading after the electric vehicle maker reported a narrower-than-expected quarterly loss and kept its production schedule intact, even in the face of supply chain issues.
- AstraZeneca (Symbol: AZN) – AstraZeneca gained +4.8% in premarket trading after the drug maker reported upbeat quarterly results and raised its full-year profit forecast. AstraZeneca’s results got a boost from strong sales of its cancer drugs.
- Bumble (Symbol: BMBL) – Bumble slumped –14% in premarket action after issuing a weak current-quarter revenue forecast. The dating service operator said its users are renewing subscriptions at a slower rate as consumers cut back on discretionary spending in the face of inflation.
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