During Market hours yesterday — (Tuesday – 24.01.2023)
- The Dow (Symbol: DIA) went up +0.28%. The S&P 500 (Symbol: SPY) lost -0.11%. and the Nasdaq (Symbol: QQQ) went down -0.20%.
- Lyft (Symbol: LYFT) — The ride-sharing app’s stock lost -0.7% following an upgrade to overweight from sector weight by KeyBanc. The firm said cost-saving strategies such as layoffs and stabilizing demand could help the stock.
- Bed Bath & Beyond (Symbol: BBBY) — The retail stock gained +15.3% as traders continued to pile into the heavily shorted name. Bed Bath & Beyond has warned of a potential bankruptcy and recently beefed up its legal team ahead of a possible filing. Shares of the meme-stock favorite are up 32% year to date.
- Advanced Micro Devices (Symbol: AMD) — Shares slid -2.4% after Bernstein downgraded the semiconductor maker to market perform from outperform. The firm said the personal computer market and new parts markets were growing increasingly unfavorable for the company.
- 3M (Symbol: MMM) — Shares of the industrial conglomerate lost -6.2% to hit a new 52-week low after the company said it would cut 2,500 manufacturing jobs amid a demand slowdown. 3M also reported lower earnings excluding items with a profit of $2.28 per share compared to $2.45 per share a year earlier.
During Premarket hours today — (Wednesday – 25.01.2023)
- Boeing (Symbol: BA) — Boeing’s stock dropped about -1.7% premarket after the aircraft maker posted earnings and revenue that missed expectations, despite a demand recovery. The company cited labor and supply shortages for the disappointing numbers.
- AT&T (Symbol: T) — Shares were up +1.8% after the telecommunications giant’s fourth-quarter report came out Wednesday, showing an increase in subscribers but forecasting an annual profit below expectations.
- Microsoft (Symbol: MSFT) — Microsoft shares declined by nearly -3% after the software giant shared a dismal revenue forecast for the current quarter. The tech bellwether topped earnings expectations but said new business growth slowed in December, including within its Azure segment.
- Enphase (Symbol: ENPH) — Shares slid -4% following a downgrade from Piper Sandler to neutral from buy. The firm pointed to a potential reset in the U.S. residential solar market coming in 2023, while still acknowledging that the company has a strong product, management and position.
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