During Market hours yesterday — (Tuesday – 18.01.2022):
- The Dow (Symbol: DIA) went down 1.47%. The S&P 500 (Symbol: SPY) dropped 1.77% and the Nasdaq (Symbol: QQQ) lost 2.49%.
- Activision Blizzard (Symbol: ATVI) — The video game giant saw its shares soar by 25.8% after it announced Microsoft will buy it in a $68.7 billion all-cash deal, Microsoft’s largest acquisition to date. Activision CEO Bobby Kotick, who has faced calls to resign over cultural problems within the company, will remain CEO during the transition.
- Goldman Sachs (Symbol: GS) — Shares of the investment bank dropped 6.9% following disappointing quarterly results, dragging down the major averages. Goldman posted fourth-quarter profit below analysts’ expectations as the bank’s operating expenses surged 23% on higher pay for Wall Street workers and increased litigation reserves.
- Charles Schwab (Symbol: SCHW) — The brokerage’s stock slid 3.5% after the company reported a quarterly miss on both earnings and revenue. Schwab reported earnings of 86 cents per share, falling short of estimates by 2 cents per share. Revenue came in at $4.71 billion, vs. expectations of $4.79 billion.
- Exxon Mobil (Symbol: XOM) — Shares of the oil giant gained 1.6% as oil prices jumped to the highest level in seven years. Through midday trading on Wall Street, energy stocks were the only S&P 500 sector to trade down by less than 1%, though Exxon was the only company from the group trading in the green. Exxon on Tuesday announced plans to reach net-zero emissions by 2050 for its operations.
- Moderna (Symbol: MRNA) — Shares fell 8.8% even after the vaccine maker said it expects to be able to share data from an Omicron-specific vaccine with regulators in March, CEO Stephane Bancel said at the World Economic Forum’s virtual Davos Agenda conference. He also said a single vaccine combining a booster dose against Covid-19 with its experimental flu shot would, in the best-case scenario, be available by fall 2023.
- Peloton (Symbol: PTON) — The stock fell more 3.5% after CNBC reported the at-home fitness company is working with management consulting group McKinsey & Co. to review its cost structure and potentially cut some jobs. The news came after CNBC reported the company is set to charge delivery fees on its bike and treadmill products.
During Premarket hours today — (Wednesday – 19.01.2022):
- Bank of America (Symbol: BAC) — Bank of America shares rallied 3.2% in the premarket after it beat estimates by 6 cents with a quarterly profit of 82 cents per share. Revenue was slightly below forecasts, but the bank’s overall performance was helped by strength in investment banking.
- Morgan Stanley (Symbol: MS) — Morgan Stanley jumped 3.5% in the premarket after beating estimates by 10 cents with a quarterly profit of $2.01 per share, and revenue essentially in line with forecasts. Results got a boost from robust deal advisory fees on a very active quarter for merger and acquisition deals.
- Procter & Gamble (Symbol: PG) — P&G added 1% in the premarket after beating estimates on the top and bottom lines for its fiscal second quarter and raising its organic growth outlook. P&G beat estimates by a penny with a profit of $1.66 per share, as consumers shrugged off price hikes for the company’s household staples.
- Sony (Symbol: SONY) — Sony fell 3.9% in premarket trading on top of a 7.2% skid Tuesday. The drop followed news of Microsoft’s (MSFT) deal to buy video game maker Activision Blizzard (ATVI) for $68.7 billion, a transaction that would increase competitive pressure on Sony’s PlayStation operation.
- SoFi Technologies (Symbol: SOFI) — SoFi surged 18% in premarket action after the financial technology company won regulatory approval to become a bank holding company.
- Zogenix (Symbol: ZGNX) — Zogenix soared 65.9% in the premarket after agreeing to be acquired by Brussels-based biopharmaceutical company UCB for $26 dollars per share, compared with the $15.64 Tuesday closing price for Zogenix. UCB would also pay an extra $2 per share if the Zogenix drug fintepla – a treatment for a rare type of epilepsy – wins EU approval by the end of 2023.
- ASML (Symbol: ASML) — ASML shares rose after reporting a better-than-expected fourth-quarter profit. The Dutch chipmaker also issued an upbeat 2022 sales growth forecast, with shares adding 2.2% in premarket trading.
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