Aug 26, 2022 | Market Updates

During Market hours Yesterday  (Thursday – 25.08.2022):

  • The Dow (Symbol: DIA) gained +1.00%. The S&P 500 (Symbol: SPY) earned +1.41%. and the Nasdaq (Symbol: QQQ) gained +1.77%.
  • Peloton (Symbol: PTON) — Shares of Peloton plunged over -18% after the company reported quarterly results Thursday showing a wider-than-anticipated loss and declining revenue. The company also did not give an outlook for its next fiscal year.
  • Salesforce (Symbol: CRM) — Shares of the enterprise software maker dropped -3.39% after the company gave a disappointing forecast for fiscal 2023. Salesforce did report earnings and revenue that topped analysts’ estimates, while approving a $10 billion stock buyback program, a first for the company.
  • Snowflake (Symbol: SNOW) — Snowflake shares surged +23.07% after beating Wall Street’s revenue estimates in the recent quarter. The cloud data platform provider said product revenue grew 83% year-over-year.
  • SoFi Technologies (Symbol: SOFI) — Shares of SoFi gained +3.72% a day after President Joe Biden forgave $10,000 in federal student loan debt for most borrowers. On Wednesday, Mizuho said the company is a buy following the news.
  • Dollar Tree (Symbol: DLTR) — Shares of the discount retailer slumped -10.22% after the company cut its forecast for the full year, citing attempts to offer competitive pricing. The company beat on earnings estimates but reported revenue that fell in line with Wall Street’s expectations.
  • Autodesk (Symbol: ADSK) — Shares of the software maker gained -2.67% midday after the company reported better-than-expected results for the latest quarter and issued upbeat financial guidance. Autodesk also said it’s seeing “robust” demand.

During Premarket hours today – (Friday – 26.08.2022):

  • Electronic Arts (Symbol: EA) – The video game company’s stock jumped +6.2% in the premarket on a Swedish media report that (AMZN) will announce an offer today to buy EA.
  • Gap (Symbol: GPS) – Gap rallied +6% in premarket trading after the clothing retailer reported an unexpected quarterly profit. Gap’s results were helped by a jump in sales of dressier clothes at its Banana Republic chain as more people returned to offices.
  • Affirm Holdings (Symbol: AFRM) – Affirm slumped -13.5% in the premarket following a larger than expected quarterly loss and a weaker than expected outlook. The provider of buy now, pay later services saw revenue top Street forecasts.
  • Seagen (Symbol: SGEN) – Seagen shares slid -10.9% in premarket action following a Bloomberg report that talks for the drug maker to be bought by Merck (MRK) have stalled. People familiar with the matter say the two sides have so far failed to agree on a buyout price.
  • Everbridge (Symbol: EVBG) – Everbridge jumped +14.3% in the premarket on a report that the enterprise software company is exploring strategic options including a possible sale. People with knowledge of the matter told Bloomberg the company is working with an adviser.
  • Dell Technologies (Symbol: DELL) – Dell fell -5.5% in premarket trading after quarterly revenue fell below analyst estimates, as sales waned following a pandemic-era boom in PC sales. Dell reported better than expected earnings for its latest quarter.
  • Farfetch (Symbol: FTCH) – Farfetch surged +14.1% in the premarket after the online luxury retailer reported a smaller than expected quarterly loss and revenue that topped analyst forecasts.

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