During Market hours Yesterday — (Wednesday – 29.09.2021):
- The Dow (Symbol: DIA) recovered 0.25%. The S&P 500 (Symbol: SPY) also jumped 0.2% and the Nasdaq (Symbol: QQQ) fell 0.2%.
- Dollar Tree (Symbol: DLTR) — Dollar Tree surged 16% after the discount retailer announced plans to add price points above $1 across all Dollar Tree Plus stores and will begin testing price points above $1 in some legacy Dollar Tree stores. The company also increased its share repurchase authorization by $1.05 billion to a total of $2.5 billion.
- Generac (Symbol: GNRC) — The generator manufacturer saw its stock slide more than 4% after it issued new targets for 2024 at its Investor Day Wednesday morning. They include an adjusted earnings margin of 24%to 25% compared to FactSet estimates of 26.9%. It also repeated its full year 2021 guidance.
- Lucid Motors (Symbol: LCID) — Shares of the electric car maker jumped more than 7% after the company said on Tuesday that it plans to deliver its first electric luxury sedans in late October. Lucid has kicked off production at its Arizona factory earlier this week.
- Netflix (Symbol: NFLX) — The streaming company rose 2.6% after announcing it bought videogame maker Night School Studio in an effort to diversify its revenue sources. KeyBanc also kept its overweight rating on the streaming giant and said Wednesday that the company’s content slate is resonating with subscribers.
- Affirm (Symbol: AFRM) — Shares of the financial services company lost over 1%. The decline comes despite Affirm’s announcement its investors day that it will offer a debit card and allow customers to execute cryptocurrency transactions directly from savings accounts.
- Boeing (Symbol: BA) — Boeing shares gained 3% after Bernstein upgraded the aircraft manufacturer stock to an outperform rating from market perform. Bernstein said Boeing is set to rally as vaccination rates grow around the world and global travel demand rebounds. The firm also hiked its price target on the stock to $279, nearly 30% higher than Tuesday’s close.
- Eli Lilly (Symbol: LLY) — Shares of Eli Lilly rose nearly 4% after Citi upgraded the pharmaceutical stock to a buy from neutral. The firm said Eli Lilly’s share price is attractive currently after pulling back from its August highs. Citi anticipates the launch of Eli Lilly’s Alzheimer’s drug will be a key driver of growth for the company. The bank also hiked its price target on the stock to $265, implying nearly 20% upside from Tuesday’s close.
- Gap (Symbol: GPS) — Shares of Gap rose less than 1% after the apparel retailer released the latest drop in its highly anticipated line with Kanye West’s Yeezy brand. The $90 hoodie became available for preorder online. Wells Fargo earlier this year estimated the Yeezy line could bring in nearly $1 billion in incremental sales in 2022.
- AutoNation (Symbol: AN) — AutoNation shares rose more than 5% after Morgan Stanley upgraded the stock to equal weight from underweight, saying the firm is bullish on the auto retailer’s management changes.
During Premarket hours today (Thursday – 30.09.2021):
U.S. weekly jobless claims total 362,000, vs 335,000 estimate
- CarMax (Symbol: KMX) – The auto retailer missed estimates by 18 cents with quarterly earnings of $1.72 per share, although revenue topped analyst projections. Comparable pre-owned car sales rose 6.2%, less than the 7.3% estimate of analysts surveyed by StreetAccount.
- McCormick (Symbol: MKC) – The spice maker reported adjusted quarterly earnings of 80 cents per share, beating estimates by 8 cents, with revenue slightly above Wall Street forecasts. However, it also cut its full-year earnings forecast as it deals with higher inflation and logistics challenges.
- Merck (Symbol: MRK) – Merck struck a deal to buy drugmaker Acceleron Pharma (XLRN) for $180 per share in cash or $11.5 billion. It had been reported earlier this month that Acceleron was close to a sale agreement, and reports earlier this week had named Merck as the suitor.
- AstraZeneca (Symbol: AZN) – The drugmaker’s Covid-19 vaccine showed 74% efficacy in a U.S. clinical trial, and 83.5% efficacy in people 65 years and older. The company expects to file for U.S. approval later this year.
- Herman Miller (Symbol: MLHR) – Herman Miller fell a penny shy of Wall Street forecasts with adjusted quarterly earnings of 49 cents per share, but the office furniture maker’s sales came in well above estimates and it also gave an upbeat current-quarter earnings forecast.
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