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.

*Any information contained in this article, including any information contained in external third party links, if any, is solely for informational purposes and does not contain, or should not be construed as containing, investment advice or an investment recommendation, or, an offer of or solicitation for any transactions in financial instruments. Past performance does not guarantee or predict future performance. Colmex Pro Ltd does not take into account your personal investment objectives or financial situation and makes no representation, and assumes no liability to the accuracy or completeness of the information provided, nor for any loss arising from any investment based on presented information.

Stay in touch

Request a call back and one of our representatives will contact you to answer any questions you have. Or simply subscribe to our newsletter to get market news and updates about new products and services.