During Market hours Monday (23.11.2020):
- Stocks kicked off the Thanksgiving week on a high note on Monday as investors piled into reopening trades amid vaccine optimism. The Dow (Symbol: DIA) rose more than 1% for its best day in a week, while the S&P 500 (Symbol: SPY) climbed 0.6%. The Nasdaq (Symbol: QQQ) ended the day unchanged.
- AstraZeneca (Symbol: AZN) — Shares of British pharmaceutical giant AstraZeneca fell 1% after the company said clinical trials showed its coronavirus vaccine has an average efficacy of 70% in preventing the virus. Its competitors Pfizer and Moderna previously said their Covid-19 vaccine candidates were more than 90% effective.
- Regeneron (Symbol: REGN) — Regeneron gained 2% after the Food and Drug Administration over the weekend granted an emergency use authorization for its antibody treatment REGN-COV2. Regeneron CEO Dr. Leonard Schleifer told CNBC Monday the company will provide the U.S. with 300,000 doses by early January.
- Snap (Symbol: SNAP) — Snap shares gained 2% after the social media company launched Spotlight, a feature to its Snapchat platform that functions like TikTok and Instagram Reels.
- United Airlines (Symbol: UAL), Carnival Corp. (Symbol: CCL) — Shares of airlines and cruise operators rose broadly amid optimism around a potentially strong economic recovery as more vaccine trials show promising results. United Airlines traded higher by 2.5%. Carnival Corp advanced 4.6%.
- Gap (Symbol: GPS) — Shares of the retailer jumped more than 7% after JPMorgan upgraded the stock to an overweight rating. The firm raised its Dec. 2021 price target to $30, which is 64% above the stock’s Friday closing price.
- General Motors (Symbol: GM) — Shares of the legacy automaker rose 4%, continuing their rise after GM’s bullish projections about its electric future last week.
- Roku (Symbol: ROKU) — Roku shares popped more than 5% after the company’s price target was hiked by Needham. The firm raised its 12-month price target on the stock to $315 per share from $255 per share. That implies an upside of nearly 20% from its Friday closing price. Needham said Roku “benefits from long-term upside connected TV.”
- Foot Locker (Symbol: FL) — Piper Sandler downgraded the retailer to an underweight rating, causing shares to slide 2.5%. The firm said Foot Locker lacks near term visibility as Covid-19 cases rise, and that over the long term Nike’s direct-to-consumer efforts could pressure the company.
- Tesla (Symbol: TSLA) — The electric vehicle company’s stock continued its recent surge on Monday, gaining 6.5%. Wedbush raised its price target on the stock to $560 per share from $500, and the firm said it was optimistic about Tesla’s upcoming Cybertruck and Model Y.
During Premarket hours today – Tuesday (24.11.2020):
- Abercrombie & Fitch (Symbol: ANF) – The apparel retailer earned 76 cents per share for its latest quarter, compared to expectations of a near-breakeven quarter. Revenue also beat estimates, helped by stay-at-home workers and students shopping online for Abercrombie clothing. The retailer’s shares jumped 8% in the premarket.
- Dollar Tree (Symbol: DLTR) – The discount retailer reported third-quarter profit of $1.39 per share, compared to a $1.15 a share consensus estimate. Revenue also topped forecasts. Comparable sales at the flagship Dollar Tree chain beat estimates, but same-store sales at the Family Dollar brand were slightly short of forecasts. Dollar Tree shares rose 7% in premarket trading.
- Ambarella (Symbol: AMBA) – Ambarella earned 9 cents per share for its latest quarter, 4 cents a share above estimates. Revenue also beat forecasts and the video components maker issued an upbeat current-quarter revenue outlook. The company’s shares climbed 8% in the premarket.
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