During Market hours Yesterday – (Wednesday – 31.03.2021):
- Nasdaq (Symbol: QQQ) gained 1.53%. The S&P 500 (Symbol: SPY) went up 0.41%. The Dow (Symbol: DIA) slid 0.19%.
- Walgreens (Symbol: WBA)— The drugstore company’s shares rose 3.62% after beating analysts’ expectations for its quarterly earnings. Walgreens earned $1.40 per share, topping estimates by 29 cents, according to Refinitiv.
- BlackBerry (Symbol: BB)— Shares of the communications software company tumbled more than 9.7% following a quarterly revenue miss amid lower demand for the company’s QNX care software. However, BlackBerry adjusted quarterly earnings of 3 cents per share, which matched Refinitiv’s estimate.
- Applied Materials (Symbol: AMAT), Lam Research (Symbol: LRCX)— Applied Materials climbed 5.4% and Lam Research popped nearly 4% after Bernstein initiated coverage on both stocks with an outperform rating. Bernstein’s price forecast for Applied Materials and Lam Research are $160 and $700, respectively.
- Harley-Davidson (Symbol: HOG)— The motorcycle stock jumped 6.85% after investment firm Baird upgraded the stock to outperform from neutral. Baird said in a note to clients that it was bullish on retail demand for the company and believed that there were inventory shortages at dealers.
- Chewy (Symbol: CHWY)— The pet supply retailer’s stock jumped 5.39% after the company reported a surprise profit for its latest quarter. Chewy reported earnings of of 5 cents per share, compared to expectations of a 10 cents per share loss, according to Refinitiv. Revenue also topped estimates as stuck-at-home consumers increased their orders of pet products.
- Tilray(Symbol: TLRY), Canopy Growth(Symbol: CGC), Aphria(Symbol: APHA), Aurora Cannabis (Symbol: ACB)— Several stocks of cannabis companies gained on Wednesday after New York passed a bill to approve the recreational use of marijuana. Gov. Andrew Cuomo signed the bill today. Tilray rose 3.13% and Canopy Growth gained 0.85%. Aphria climbed 4.32%, and Aurora Cannabis added 2.87%.
- Cleveland-Cliffs (Symbol: CLF) — The steel producer’s shares surged 16.65% after it announced preliminary results for the quarter that ends today. The projected earnings for the quarter and the full year are well above current Wall Street projections.
- Apple (Symbol: AAPL)— Apple shares rose 1.88% after UBS upgraded the stock to a buy rating from a neutral rating and said it expects more stable long-term iPhone demand and stronger average sales prices. The brokerage hiked its price target on Apple shares to $142 from $115, implying 18% upside from Tuesday’s close.
During Premarket hours today – (Thursday – 01.04.2021):
U.S. weekly jobless claims total 719,000, vs 675,000 estimate
- Johnson & Johnson (Symbol: JNJ) – J&J said a batch of its Covid-19 vaccine that came from a Baltimore factory did not meet quality standards and will not be distributed. The company said the problem stemmed from a quality issue for a vaccine ingredient made by Emergent BioSolutions (Symbol: EBS). J&J fell 1.1% premarket, while Emergent BioSolutions tumbled 8.5%.
- Pfizer (Symbol: PFE) – New data released by the drugmaker and partner BioNTech (Symbol: BNTX) showed 91% efficacy for its Covid-19 vaccine after six months. Pfizer edged higher by 0.3% in premarket trading, while BioNTech was up 1.1%.
- CarMax (Symbol: KMX) – The auto retailer reported quarterly earnings of $1.27 per share, with revenue essentially in line with forecasts. CarMax also announced it would acquire the remaining part of Edmunds that it didn’t already own, in a cash-and-stock deal valuing the auto information provider at $404 million. CarMax shares slid 3.5% in premarket action.
- Micron Technology (Symbol: MU) – The computer chip maker reported quarterly profit of 98 cents per share, beating consensus estimates by 3 cents a share. Revenue came in slightly above Wall Street forecasts. Separately, The Wall Street Journal reported Micron is exploring a deal for Kioxia that could value the Japanese chip maker at around $30 billion. Micron shares jumped 4.5% in the premarket.
- FuboTV (Symbol: FUBO) – The live streaming sports TV platform announced an agreement to carry all non-nationally televised Chicago Cubs games this season. FuboTV shares jumped 4.8% in premarket action.
- Nio (Symbol: NIO) – The China-based electric vehicle maker said it delivered 7,257 vehicles in March, a 373% increase over the same month last year. Nio surged 5.8% in premarket trading.
- Sherwin-Williams (Symbol: SHW) – The paint maker’s 3-for-1 stock split – announced on March 2 – is effective as of today. It’s the first time Sherwin-Williams has split its stock since 1997. Sherwin-Williams gained 1.2% in the premarket.
- Taiwan Semiconductor (Symbol: TSM) – The semiconductor maker will invest $100 billion over the next three years to increase manufacturing capacity at its plants, in a move to deal with increased demand and a worldwide shortage of chips. Taiwan Semi rose 2.1% in premarket action.
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