During Market hours Yesterday — (Wednesday – 11.01.2023):
- The Dow (Symbol: DIA) went up +0.75%. The S&P 500 (Symbol: SPY) gained +1.26%. and the Nasdaq (Symbol: QQQ) jumped +1.73%.
- Tesla (Symbol: TSLA) — The EV maker gained more than +2% after it registered with the state of Texas to expand its electric-vehicle factory in Austin this year. Separately, Goldman Sachs named Tesla a top stock pick for 2023.
- Expedia (Symbol: EXPE) — The travel company’s stock gained more than +4% after Oppenheimer upgraded it to outperform from perform. The Wall Street firm said it believes Expedia shares are discounting macro headwinds.
- Alphabet (Symbol: GOOGL) — Alphabet shares rose more than +2% after Germany’s competition regulator said it plans to order a redesign of the options Google offers users for opting out of its cross-service user data processing.
During Premarket hours today — (Thursday – 12.01.2023):
Actual U.S. Consumer Price Index (CPI) MoM was -0.1% against the forecast of 0%. A higher-than-expected reading should be taken as positive/bullish for the USD, while a lower-than-expected reading should be taken as negative/bearish for the USD.
Actual U.S. Consumer Price Index (CPI) YoY was 6.5% in line with expectations.
- Disney (Symbol: DIS) — Disney shares added more than +1% in early morning trading after the company elected independent director Mark Parker as Chairman of the board. It also opposed activist investor Nelson Peltz’s attempt to join the board as the two sides prepare for a proxy battle.
- Bed Bath & Beyond (Symbol: BBBY) — The retailer advanced +16% premarket, continuing to rally after a handful of meme stocks surged Wednesday. The stock surged almost 69% in Wednesday’s session.
- American Airlines (Symbol: AAL) — The airline gained +5% after the company lifted its fourth quarter guidance, citing strong demand and high fares. American’s revenue forecast rose as much as 17% over 2019, up from a previous 11% to 13% increase.
- Logitech (Symbol: LOGI) — Shares of the tech stock plummeted -16% after it missed earnings expectations for the recent quarter and slashed its sales outlook.
- Netflix (Symbol: NFLX) — The streaming giant gained +1.4% after an upgrade by Jeffries to buy from hold. The Wall Street firm, which also boosted its price target to $385 from $310, said the launch of its advertising-based offering and crackdown on password stealing will drive revenue and EBTIDA above estimates.
- Roku (Symbol: ROKU) — The streaming stock slid -3.8% after Jefferies downgraded to an underperform rating, saying that consensus estimates are failing to account for a slowing advertising market.
- Spotify (Symbol: SPOT) — Shares of the audio streaming company fell by about -2% premarket after a downgrade to hold from buy at Jefferies, which said it expects Spotify’s growth margins to fall below Wall Street expectations in the next two years.
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