During Market hours Yesterday (Wednesday – 14.04.2021):
- Nasdaq (Symbol: QQQ) fell 1.20%. The S&P 500 (Symbol: SPY) went down 0.34%. The Dow (Symbol: DIA) gained 0.22%.
- Goldman Sachs (Symbol: GS)— Shares of the New York bank popped 2.3% after the company posted first-quarter per-share earnings of $18.60—crushing the $10.22 estimate of analysts surveyed by Refinitiv—and revenue of $17.7 billion, more than doubled what it posted one year ago.
- Coinbase (Symbol: COIN)— On its first day of trading, Coinbase rose 31.3% (compared to the 250.00$ pricing). Coinbase shares opened at $381 on the Nasdaq Wednesday morning, giving the cryptocurrency exchange an initial market cap of $99.6 billion on a fully-diluted basis.
- Bed Bath & Beyond (Symbol: BBBY)– Shares of the big-box retailer tumbled 12.2% after the company reported a double-digit decline in fiscal fourth-quarter sales. Its earnings per share came in at 40 cents adjusted, versus 31 cents expected by Refinitiv.
- Wells Fargo (Symbol: WFC)— The bank stock jumped 5.5% on Wednesday after Wells Fargo reported better-than-expected first quarter results and the company’s management expressed optimism about a pickup in commercial loans. The bank reported $1.05 in earnings per share and $18.06 billion in revenue. Analysts surveyed by Refinitiv were looking for 70 cents per share and $17.5 billion in revenue.
- Moderna (Symbol: MRNA)—Shares of the drug maker popped 6.89% after Moderna said its Covid-19 vaccine was more than 90% effective at protecting against the virus six months after a person’s second shot. The data was based on more than 900 cases of the virus.
- Occidental Petroleum (Symbol: OXY)— Shares of the the hydrocarbon exploration company rallied 5.2% after MKM partners upgraded Occidental Petroleum to buy from neutral. The Wall Street firm said investors should take advantage of the pullback in shares.
- Discovery (Symbol: DISCA)— Shares of the media company dropped 5% after CNBC reported that Credit Suisse is still unloading its position in the wake of Archegos Capital Management’s chaos. According to people familiar with the matter, the bank was selling 19 million shares of Discovery’s class A stock on Tuesday.
- JPMorgan (Symbol: JPM)– Shares of JPMorgan dipped 1.87% even after the bank reported profit and revenue that exceeded analysts’ expectations on robust trading results. The bank posted first-quarter profit of $14.3 billion, or $4.50 a share including a $1.28 per share benefit from the reserve release, higher than the $3.10 per share expected by analysts surveyed by Refinitiv. The stock has risen more than 20% in 2021.
During Premarket hours today – (Thursday – 15.04.2021):
Retail sales rise 9.8% in March vs. 6.1% estimate
U.S. weekly jobless claims total 576,000, vs 700,000 estimate
- Bank of America (Symbol: BAC) – The strong start to earnings season from Wall Street banks continued with a beat on the top and bottom lines for Bank of America. The bank released $2.7 billion in reserves for loan losses, boosting its earnings. Shares rose 1.2% before the bell.
- Coinbase (Symbol: COIN) – The cryptocurrency exchange continued its volatile start as a public company, with shares rising more than 7% in premarket trading. The stock began trading at $381 per share in its direct listing on Wednesday and rose in its opening minutes, but shares reversed later in the day and Coinbase closed near $328 per share. Additionally, BTIG initiated coverage of Coinbase with a “buy” rating.
- Dell (Symbol: DELL) – Shares of the tech company jumped after Dell announced that is has decided to spin off its 81% equity stake in VMWare. Dell’s stock rose more than 7%, while VMWare (Symbol: VMW) added 2.6% in premarket trading.
- Nvidia (Symbol: NVDA) – Raymond James upgraded the chip stock to a “strong buy” from “outperform,” saying the company was well positioned in the short and long term. The firm also initiated coverage of Advanced Micro Devices with an “outperform” rating. Nvidia and AMD (Symbol: AMD) rose 1.8% and 1.5%, respectively, in premarket trading.
- UnitedHealth (Symbol: UNH) – The managed care company beat estimates on the top and bottom lines for the first quarter, with adjusted earnings of $5.31 per share and more than $70 billion in revenue. UnitedHealth also raised its full-year earnings guidance. Shares were up 1.7% in premarket trading.
- American Eagle (Symbol: AEO) – The apparel company announced that it expects first-quarter revenue to top $1 billion, a mid-teens growth from the same period in 2019, before the pandemic. American Eagle also projected operated income to more than double compared with the same period. The company will report its full results on May 1. Shares rose more than 6% in premarket trading.
- CrowdStrike (Symbol: CRWD) – Deutsche Bank initiated coverage of the cybersecurity stock with a “buy” rating, saying in a note that the company’s margins could exceed 30%. Shares of CrowdStrike rose 3% in premarket trading.
- PepsiCo (Symbol: PEP) – The beverage company reported adjusted earnings of $1.21 per share, which was 9 cents above estimates, according to Refinitiv. Revenue also come in higher than expected as organic revenues rose 2.4%. Shares of PepsiCo rose 0.6% in premarket trading.
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