During Market hours Yesterday — (Wednesday – 23.02.2022)
Yesterday, US stocks plummeted as tensions in Ukraine escalated. Below some of the most representative highlights:
- The Dow (Symbol: DIA) went down 1.34%. The S&P 500 (Symbol: SPY) lost 1.77% and the Nasdaq (Symbol: QQQ) dropped 2.56%.
- Lowe’s (Symbol: LOW) —Shares of the home improvement retailer added 0.2%, outperforming the broader market, after the company reported quarterly results that beat top- and bottom-line estimates. Lowe’s also issued upbeat full-year guidance, citing continued demand for tools and building materials.
- Virgin Galactic (Symbol: SPCE) — Shares of the space exploration company jumped 3.5% after Virgin reported a smaller-than-expected loss for the fourth quarter. Virgin also said that it expects free cash flow for the first quarter to be between negative-$75 million and negative-$85 million and that it should have a spaceship enter commercial service in the fourth quarter.
- TJX (Symbol: TJX) — Disappointing fourth-quarter results, particularly in international markets, sent shares of the retailer down 4.2%. The company reported 78 cents in earnings per share on $13.85 billion in revenue. Analysts surveyed by Refinitiv were looking for 91 cents per share on $14.22 billion in revenue.
- Caesars Entertainment (Symbol: CZR) — The casino company’s stock rose nearly 3% despite a weaker-than-expected earnings result for the fourth quarter. The company’s CEO said on a conference call that Caesars will spend less on advertising going forward, a key source of concern in the mobile and sports betting space.
- Tenneco (Symbol: TEN) — Shares of the auto supply manufacturer jumped more than 93% after Tenneco announced that it had accepted a takeover offer from Apollo Funds in a deal valued at $7.1 billion.
- Kodiak Sciences (Symbol: KOD) — Shares of the biotech company tanked 80% after Kodiak announced that a drug aimed at improving vision in patients with macular degeneration failed to meet its primary endpoint in a clinical trial.
During Premarket hours today (Thursday – 24.02.2022)
- Alibaba (Symbol: BABA) — The China-based e-commerce giant fell 2.5% in premarket trading after it reported its slowest-ever growth in quarterly revenue since going public in 2014. Sales fell below analyst forecasts as competition intensified. However, its quarterly earnings beat estimates.
- Wayfair (Symbol: W) — The home furnishings retailer slid 9.5% in the premarket after posting a wider-than-expected quarterly loss. Wayfair’s results were pressured by a double-digit decline in international sales.
- Moderna (Symbol: MRNA) — The drugmaker reported quarterly earnings of $11.29 per share, beating the $9.90 consensus estimate, and revenue also beat forecasts. Moderna also raised its full-year Covid-19 vaccine sales forecast and announced a $3 billion share repurchase program.
- Booking Holdings (Symbol: BKNG) — Booking Holdings reported adjusted quarterly earnings of $15.83 per share, well above the $13.64 consensus estimate, with the travel services company’s revenue also topping Wall Street forecasts. The company said it has seen meaningful improvement in current quarter bookings, but said there will be periods this year when Covid-19 negatively impacts travel. Shares fell 7.6% in the premarket amid weakness in travel stocks.
- Hertz Global (Symbol: HTZ) — Hertz beat estimates by 15 cents with an adjusted quarterly profit of 91 cents per share, though the car rental company’s revenue fell slightly short of analyst projections. Demand for rental cars remained strong during the quarter, although Hertz is still experiencing post-bankruptcy restructuring expenses. Hertz fell 8.4% in the premarket amid an overall drop in travel stocks.
- EBay (Symbol: EBAY) — EBay came in 6 cents above estimates with quarterly earnings of $1.05 per share, while the e-commerce company’s revenue was in line with forecasts. However, the stock is under pressure after eBay forecast weaker-than-expected current quarter results. EBay lost 8.4% in premarket action.
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