Major cryptocurrencies that were performing well this week had a problem. Solana lost more than –9% of its value, Cardano lost more than -8%, while XRP, Ethereum, and BNB all lost about -5%. At the time of writing, Bitcoin was worth less than $23,000, a 2 percent decline from the previous day.
During Market hours Yesterday — (Wednesday – 20.07.2022)
- The Dow (Symbol: DIA) went down –0.72%. The S&P 500 (Symbol: SPY) lost -0.53% and the Nasdaq (Symbol: QQQ) dropped -0.21%.
- Netflix (Symbol: NFLX) — Shares of the streaming company popped +7.4% a day after Netflix posted a smaller-than-expected subscriber loss in the recent quarter. Netflix reported a beat on earnings but a miss on revenue.
- Baker Hughes (Symbol: BKR) — Shares plunged more than -8% after the oilfield services company reported disappointing second-quarter earnings. Baker Hughes reported earnings of 11 cents per share, which is half of what analysts were expecting, according to consensus estimates from Refinitiv.
- Biogen (Symbol: BIIB) — Shares of the biopharmaceutical company fell -5.8% despite the company reporting a beat on quarterly earnings and revenue. Biogen said it faces increasing generic and biosimilar competition for its Tecfidera and Rituxan drugs.
- Merck (Symbol: MRK) — Merck shares slipped -2.9% after the company’s cancer therapy drug did not meet its goal in a late-stage trial in patients with head and neck cancer.
During Premarket hours today (Thursday – 21.07.2022)
- AT&T (Symbol: T) — AT&T fell -1.8% in the premarket, despite beating estimates on both the top and bottom lines for the second quarter, as it lowered its full-year free cash flow guidance. AT&T also reported a jump in quarterly wireless subscriber additions and raised its full-year forecast for wireless revenue growth.
- American Airlines (Symbol: AAL) — American fell -1.4% in the premarket after quarterly earnings matched estimates and revenue was essentially in line with forecasts. The profit was the airline’s first since the start of the pandemic and the carrier expects the current quarter to be profitable as well.
- Tesla (Symbol: TSLA) — Tesla gained +2.7% in premarket trading after reporting better-than-expected earnings for the second quarter. Tesla’s revenue came in below forecasts and it saw shrinking profit margins as it dealt with higher costs and supply chain disruptions.
- Carnival (Symbol: CCL) — Carnival took a +12.1% hit in the premarket after announcing a $1 billion common stock offering. The cruise line operator plans to use the proceeds for general corporate purposes.
- United Airlines (Symbol: UAL) — United Airlines missed top and bottom line estimates for the second quarter and the carrier warned of the impact of higher jet fuel prices and a possible economic slowdown. United slid -6.8% in premarket action.
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