During Market hours Yesterday – (Tuesday – 06.04.2021):
- Nasdaq (Symbol: QQQ) slid 0.07%. The S&P 500 (Symbol: SPY) went down 0.06%. The Dow (Symbol: DIA) lost 0.25%.
- Snap (Symbol: SNAP) — The social media company’s stock price jumped 5.12% after Atlantic Equities upgraded the stock to overweight from neutral. The Wall Street firm said that Snap has transformed into a broad content platform and that it sees an “attractive” entry point right now.
- Illumina (Symbol: ILMN) — Shares of the biotech company jumped more than 7.8% after Illumina pre-announced better than expected results for its first quarter. The company said it expects about $1.085 billion of revenue for the period, above the $924.6 million projected by analysts, according to FactSet.
- Southwest Airlines (Symbol: LUV) — The airline stock climbed 1.79% after the company recalled 209 pilots from a voluntary extended leave program to support its summer schedule. Southwest said on Monday the pilots will return to active status on June 1 on the back of a return in travel demand amid the vaccine rollout.
- Paychex (Symbol: PAYX) — Shares of Paychex dipped 4.92%, despite beating analysts’ earnings estimates for the fiscal third quarter. Paychex earned 97 cents per share, topping the forecasted 92 cents per share, according to Refinitiv.
- Signet Jewelers (Symbol: SIG) — The jewelry stock dipped 1.7% after Signet announced that it was acquiring rental platform Rocksbox. The company said the move is part of its strategy to expand its services business.
- Moderna (Symbol: MRNA) — Shares of the drugmaker jumped 2.79% after Moderna announced an expanded partnership with manufacturer Catalent. Through the collaboration, Catalent will dedicate a high-speed filling line to Moderna through June 2023.
- Cara Therapeutics (Symbol: CARA) — The biopharmaceutical company’s stock price jumped 13.98% following news that Cara Therapeutics will be added to the S&P SmallCap 600 index. The company will replace MTS Systems Corp., and the change will go into effect prior to the opening bell on Thursday.
- BP (Symbol: BP) — Oil titan BP rose 3.46% after it said it’s seeing a healthy start to 2021 thanks to higher energy prices and signs that the industry is set for a rebound after pandemic-induced losses in 2020. The company said Tuesday it was poised to lower its net debt to $35 billion in the first quarter, a level it has said could instigate share buybacks.
During Premarket hours today – (Wednesday – 07.04.2021):
- Beyond Meat (Symbol: BYND) – Beyond Meat announced the opening of a new manufacturing facility in China, its first outside the United States. The plant-based food company said the new factory would significantly increase its ability to deliver products in the region. Beyond Meat rose 2.8% in premarket action.
- Nokia (Symbol: NOK) – Nokia settled a long-standing patent dispute with computer maker Lenovo, striking a new cross-licensing agreement. The case involved Lenovo’s use of multiple video compression technologies. Terms of the agreement weren’t disclosed, but the Finland-based telecom equipment maker said it will receive a payment from Lenovo. Nokia rose 1.3% in premarket trading.
- Li Auto (Symbol: LI) – Li Auto announced a new $750 million debt offering, which the China-based electric vehicle maker said would be used to fund research and development. The stock fell 3.7% in premarket action.
- SunRun (Symbol: RUN) – The solar equipment company’s stock added 2.3% in the premarket after RBC initiated coverage with an “outperform” rating, noting SunRun’s position as the leading player in the rapidly growing rooftop solar market.
- Genworth Financial (Symbol: GNW) – Genworth terminated its deal to be acquired by China-based China Oceanwide Holdings, a $2.7 billion transaction first announced in 2016. The insurance company said its board had determined that the deal could not be completed in a reasonable time frame, following delays from regulatory hurdles and the pandemic. Genworth fell 1.7% in premarket trading.
- Qiagen (Symbol: QGEN) – The genetic testing company unveiled new technology that shortens turnaround time for researchers identifying new variants of the virus that causes Covid-19. The stock gained 1.5% in the premarket.
- CyberArk Software (Symbol: CYBR) – The cybersecurity software company gained 1.1% in the premarket after Baird upgraded the stock to “outperform” from “neutral,” based on what it sees as robust demand for so-called PAM (privileged access management) technology.
- ViacomCBS (Symbol: VIAC) – The media company’s stock was upgraded to “outperform” from “peer perform” at Wolfe Research, which said the stock is now at an attractive valuation point following the recent volatility which saw it nearly double and then give back those gains. ViacomCBS rose 1.9% in the premarket.
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