During Market hours Yesterday (Wednesday – 21.09.2022)

  • The Dow (Symbol: DIA) went down -1.70%. The S&P 500 (Symbol: SPY) lost -1.74%. and the Nasdaq (Symbol: QQQ) fell -1.79%.
  • Freyr Battery (Symbol: FREY) — Shares of the electric vehicle battery maker shot up +17.1% after Morgan Stanley said the company’s price target was double where it is now. The bull estimate for the price was three times over its current price.
  • General Mills (Symbol: GIS) — Shares of the food producer jumped +5.7% after the company posted a better-than-expected quarterly profit. General Mills also raised its full-year sales forecast amid higher prices and strong demand for cereal, snacks and pet food.
  • Trupanion (Symbol: TRUP) — The stock advanced +2.3% after Jefferies initiated coverage of Trupanion with a buy rating, saying the pet insurance company is well positioned for more gains ahead on the pet health trend.
  • Aurora Cannabis (Symbol: ACB) — Shares of the cannabis producer tumbled -7.1% after the company reported a breakeven quarter, on an adjusted basis. Analysts had predicted a quarterly loss. Aurora’s overall revenue came in slightly below expectations.
  • Beyond Meat (Symbol: BYND) — Shares of Beyond Meat declined -0.8% after the company announced it had suspended Chief Operating Officer Doug Ramsey after he was arrested Saturday on charges of terroristic threatening and third-degree battery after an incident at a college football game. The company announced Tuesday that Jonathan Nelson, senior vice president of manufacturing operations, will oversee Beyond’s operations activities on an interim basis.

During Premarket hours today (Thursday – 22.09.2022)

  • Darden Restaurants (Symbol: DRI) – The parent of Olive Garden and other restaurant chains fell -2.5% in the premarket after reporting in-line quarter results. Darden’s same-restaurant sales rose by 4.2%, short of the consensus FactSet estimate of 5.1%. Food and beverage costs also rose slightly more than expected.
  • Salesforce (Symbol: CRM) – Salesforce shares added +1.9% in the premarket after the business software giant unveiled a plan to operate more efficiently and increase profit margins. Salesforce is aiming for a 25% adjusted operating margin for fiscal 2026, compared with the 20% it had targeted for fiscal 2023.
  • Novavax (Symbol: NVAX) – The drug maker’s stock slipped -6.1% in premarket trading after J.P. Morgan Securities downgraded it to “underweight” from “neutral”. The firm said the company’s recent guidance cut may not have gone far enough, given reduced vaccine demand as well as other factors.

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