During Market hours yesterday — Wednesday (18.11.2020):
U.S. stocks fell for a second straight day on Wednesday as the market’s recent rally to new records took a pause.
- The Dow (Symbol: DIA) went down 1.2%. The S&P 500 (Symbol: SPY) dropped 1.2% and the Nasdaq (Symbol: QQQ) slid 0.7%.
- Lowe’s (Symbol: LOW) The home improvement company sank more than 8% after it reported earnings and guidance that fell short of analyst expectations. Lowe’s reported earnings of $1.98 per share, missing estimates by 1 cents, according to Refinitiv.
- Tesla (Symbol: TSLA) Shares of the electric vehicle company advanced more than 10% following an upgrade to overweight at Morgan Stanley. Analyst Adam Jonas also lifted his target to $540, which is 22% above where the stock closed Tuesday. “Tesla is on the verge of a profound model shift from selling cars (volume x price) to generating high margin, recurring software and services revenue,” he wrote in a note to clients.
- Nio (Symbol: NIO) U.S.-listed shares of the China-based electric vehicle manufacturer declined 3.3% following the company’s third-quarter earnings results. Nio posted a smaller-than-expected bottom-line loss and said its revenue jumped 146.4% year over year. Following the report the company got at least three price target hikes from Wall Street analysts.
- La-Z-Boy (Symbol: LZB) The stock jumped more than 3% after the furniture maker reported better-than-expected quarterly results. The company posted adjusted quarterly earnings of 82 cents per share, well above the 50 cent consensus estimate per Refinitiv. Its revenue also came in above forecasts.
- Polaris (Symbol: PII) Shares fell more than 6% after the recreational vehicle maker said its chairman and CEO Scott Wine resigned to join CNH Industrial. Polaris said it would immediately begin a search for Wine’s successor.
- GoodRx (Symbol: GDRX) Shares of GoodRx dropped 6% after JPMorgan downgraded the prescription drug digital platform to underweight from neutral. The bank cited the launch of rival service Amazon Pharmacy as a threat to GoodRx.
During Premarket hours today – Thursday (19.11.2020):
U.S. weekly jobless claims total 742,000, vs 710,000 expected.
- Nvidia (Symbol: NVDA) Nvidia reported quarterly earnings of $2.91 per share, beating the consensus estimate of $2.57 a share.
- BJ’s Wholesale (Symbol: BJ) The warehouse retailer earned 92 cents per share for the third quarter, beating the 64 cents a share consensus estimate. Revenue topped estimates as well.
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