• The Dow (Symbol: DIA) went up 0.23%. The S&P 500 (Symbol: SPY) gained 0.34% and the Nasdaq (Symbol: QQQ) popped 0.64%.
• Uber (Symbol: UBER), DoorDash (Symbol: DASH) – Shares of Uber slumped 4.6% and DoorDash fell 9% on news that Amazon agreed to take a stake in Grubhub in a deal that will give Prime subscribers a one-year membership to the food delivery service.
• Coinbase (Symbol: COIN) – Coinbase slipped 3.1% after Atlantic Equities downgraded the crypto exchange to neutral and slashed its price target, citing increased volatility in the industry.
• Netflix (Symbol: NFLX) – Netflix dropped 2.1% after Barclays slashed its price target for the streaming service to $170 from $275, anticipating a subscriber loss in the second quarter amid increased competition.
During Premarket hours today (Thursday – 07.07.2022)
• GameStop (Symbol: GME) – GameStop rallied 7.8% in the premarket after the videogame retailer declared a 4-for-1 stock split. Trading on a split-adjusted basis will begin on July 22.
• Virgin Galactic (Symbol: SPCE) – The space tourism company’s stock rallied 3.7% in premarket action, after announcing a partnership with a Boeing (BA) subsidiary to build motherships that carry Virgin rocket ships aloft.
• Bed Bath & Beyond (Symbol: BBBY) – Bed Bath & Beyond jumped 6% in the premarket following the disclosure of several insider purchases. Interim CEO Sue Gove bought 50,000 shares of the housewares retailer’s stock, while board members Harriet Edelman and Jeff Kirwan each bought 10,000 shares.
• Helen of Troy (Symbol: HELE) – The health care and beauty products company reported an adjusted quarterly profit of $2.41 per share, beating the $2.16 consensus estimate, with revenue also topping analyst forecasts. However, the company noted a slowdown in demand in some of its categories, as consumers shift spending patterns to deal with inflation, and cut its full-year outlook. The stock slid 6.7% in the premarket.
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