During Market hours Yesterday — (Wednesday – 13.04.2022)
Below some of the most representative highlights:
- The Dow (Symbol: DIA) went up 1.03%. The S&P 500 (Symbol: SPY) gained 1.15% and the Nasdaq (Symbol: QQQ) earned 2.03%.
- JPMorgan Chase (Symbol: JPM) — Shares fell 3.2% as JPMorgan Chase reported a $524 million hit from market dislocations caused by sanctions against Russia due to the war in Ukraine. The bank posted better-than-expected earnings and revenue in the first quarter, but profit fell 42% from the year prior.
- Delta Air Lines (Symbol: DAL) — The airline stock rose 6.2% as Delta forecast a return to profit in the current quarter. Delta posted a narrower-than-expected loss per share in its fiscal first quarter and beat consensus revenue expectations.
- American Airlines (Symbol: AAL) — Other travel stocks jumped after Delta’s report. American Airlines soared 10.6%, Southwest Airlines (Symbol: LUV) jumped 7.5%, and Norwegian Cruise Line (Symbol: NCLH) added 6.2%.
- Fastenal (Symbol: FAST) — Shares rose 2.2% after a stronger-than-expected quarterly earnings report. The company reported profit of 47 cents per share on revenue of $1.7 billion. Analysts surveyed by Refinitiv expected a profit of 45 cents per share on revenue of $1.69 billion.
- Charles Schwab (Symbol: SCHW) — The brokerage company advanced 4.7% after Morgan Stanley named it a “top pick” and said rising rates will boost the stock. The firm’s price target on BlackRock implies upside of about 65%.
- Warner Bros. Discovery (Symbol: WBD) — Shares rose 5.4% after Bank of America initiated the media stock with a buy rating. The firm said the merger of the two media companies creates a “powerhouse.”
- Gap (Symbol: GPS) — The retail stock surged 8.2% after a report from Activist Insight speculating the company could be a potential activist target. CNBC has not confirmed the report.
During Premarket hours today (Thursday – 14.04.2022)
- Twitter (Symbol: TWTR) — Twitter surged 8.2% in premarket trading after Tesla (TSLA) CEO Elon Musk – currently Twitter’s largest shareholder – offered to take the company private for $54.20 per share in cash. The proposed deal would value Twitter at more than $43 billion.
- Goldman Sachs (Symbol: GS) — Goldman shares rose 2.2% premarket after the investment bank reported better-than-expected first-quarter profit and revenue. Goldman noted that a “rapidly evolving market environment” had a significant impact on client activity during the quarter.
- Morgan Stanley (Symbol: MS) — Morgan Stanley earned $2.02 per share for the first quarter, beating the $1.68 consensus estimate, with revenue coming in above estimates as well. The bank said the upbeat results came despite market volatility and economic uncertainty, and the stock rose 2.3% premarket.
- Wells Fargo (Symbol: WFC) — Wells Fargo reported adjusted quarterly earnings of 88 cents per share, 8 cents above estimates, but revenue was slightly below analyst projections. The bank said it would be helped by rising interest rates, but that aggressive Fed actions and the Ukraine war add to downside economic growth risks. The stock fell 3.2% premarket.
- UPS (Symbol: UPS) — UPS rose 1% after Loop Capital upgraded it to “buy” from “hold,” saying the call was largely based on an attractive valuation for the delivery service’s stock.
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