During Market hours yesterday — Wednesday (09.12.2020):
Stocks fell on Wednesday, retreating from the record highs set earlier in the day, as tech shares struggled and traders weighed the prospects of new fiscal stimulus.
- The Dow (Symbol: DIA) went down 0.4%. The S&P 500 (Symbol: SPY) closed 0.9% lower and the Nasdaq (Symbol: QQQ) sank 2.26%.
- Lowe’s (Symbol: LOW) Shares of the home improvement stock jumped 5.9% after Lowe’s said it expects sales to grow by about 22% this year as its turnaround efforts gain momentum.
- United Natural Foods (Symbol: UNFI) The grocery stock sank 14.3% on the heels of a disappointing quarterly reported. United Natural Foods reported adjusted earnings per share of 51 cents on $6.67 billion in revenue for its fiscal first quarter. Analysts surveyed by Refinitiv were looking for 74 cents in earnings per share and $6.81 billion in revenue. Net sales were up year over year, however.
- FireEye (Symbol: FEYE) Shares of the cybersecurity company plunged more than 13% after FireEye said its systems were breached by hackers in a highly sophisticated attack by a foreign government.
- GameStop (Symbol: GME) The company reported a wider-than-expected third-quarter loss, sending the stock down more than 19%. The video-game retailer lost $61.8 million in adjusted EBITDA, while analysts polled by FactSet expected a loss of $33 million. Revenue was also weaker-than-expected at $1 billion.
- Nielsen Holdings (Symbol: NLSN) Shares popped more than 9% after the ratings company unveiled a series of initiatives aimed at accelerating growth. “We have redesigned our products, our business platform, and our operating model, positioning Nielsen to better deliver the solutions our clients need in the rapidly changing global media ecosystem,” CEO David Kenny said in a release.
- Zoom Video (Symbol: ZM) The popular work-from-home stock slid 6.5% after JPMorgan downgraded Zoom Video to neutral from overweight. The firm said in a note that the stock price “fully reflects” the upside for the stock.
- Chewy (Symbol: CHWY) Shares of the pet deliver company lost 4.5% on Wednesday amid broad weakness in tech stocks. Chewy’s shares were up 2% in midday trading after the company reported better-than-expected earnings. Chewy reported a loss of 8 cents per share, while analysts had expected a loss of 13 cents per share, according to Refinitiv. Revenue came in at $1.78 billion, topping estimates of $1.724 billion. Net sales rose 45% year-over-year.
During Premarket hours today – Thursday (10.12.2020):
U.S. weekly jobless claims total 853,000, vs 730,000 expected.
- Moderna (Symbol: MRNA) The drugmaker has begun a study of its Covid-19 vaccine candidate involving adolescents aged 12 to less than 18. Moderna has dosed the first participant in a study expected to enroll 3,000 healthy people.
- DoorDash (Symbol: DASH) The food delivery service’s shares remain on watch today, following a successful Wall Street debut Wednesday. DoorDash shares jumped 85% in their first day of trading, after the initial public offering priced at $102 per share.
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