After breaking records, markets saw a slower week: Weekly Stock Market Update

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week included significant gains for Moderna Inc. (MRNA), 360 Finance Inc. (QFIN), Inmode Ltd. (INMD), BioNTech SE (BNTX), and Cargurus Inc (CARG).

  • Moderna Inc. (MRNA) shares surged 23% as the biotech company was set to join the SPX500.
  • After a 4-week decline in its shares, the digital consumer finance platform 360 Finance Inc. (QFIN) saw a jump following a class-action lawsuit.
  • Inmode Ltd. (INMD) traded higher after the medical services company announced it was expecting a record second-quarter revenue of $86.5–$87 million.
  • BioNTech SE (BNTX) shares popped after a study revealed that the Pfizer-BioNTech mRNA-based Covid 19 vaccine generated ten times more antibodies than that of Sinovac.
  • Cargurus Inc. (CARG) shares jumped after Zacks Investment Research upgraded the online automotive marketplace rating from a “sell” to a ”hold.”

NASDAQ TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Moderna Inc. (MRNA) 53.62 (+23.03%) 286.43 Consumer goods
360 Finance Inc. (QFIN) 3.28 (+12.47%) 29.59 Financial
Inmode Ltd. (INMD) 9.65 (+10.04%) 105.79 Consumer goods
BioNTech SE (BNTX) 14.07 (+6.47%) 231.47 Consumer goods
Cargurus Inc. (CARG) 1.65 (+6.39%) 27.46 Services

 

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for Covanta Holdings (CVA), Kadmon Holdings Inc. (KDMN), America Movil, S.A.B. de C.V. (AMX), ABM Industries Inc. (ABM) and Cia de Saneamento Basico do Estado de Sao Paulo (SBS).

NYSE TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Covanta Holdings (CVA) 2.26 (+12.73%) 20.01 Consumer Goods
Kadmon Holdings Inc. (KDMN) 0.39 (+10.03%) 4.28 Services
America Movil, S.A.B. de C.V. (AMX) 1.21 (+8.18%) 16.00 Services
ABM Industries Inc. (ABM) 3.32 (+7.70%) 46.42 Financial
Cia de Saneamento Basico do Estado de Sao Paulo (SBS) 0.50 (+7.39%) 7.27 Consumer Goods

 

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for Toughbuilt Industries, Inc. (TBLT), Newegg Commerce Inc. (NEGG), SHOALS TECHNOLOGIES GROUP – A (SHLS), Jaguar Health Inc. (JAGX), and Urban One Inc. (UONE).

NASDAQ WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Toughbuilt Industries, Inc. (TBLT) -0.43 (-41.42%) 0.61 Industrial Goods
Newegg Commerce Inc. (NEGG) -16.14 (-34.57%) 30.55 Consumer Goods
SHOALS TECHNOLOGIES GROUP – A (SHLS) -8.27 (-23.37%) 27.11 Basic Materials
Jaguar Health Inc. (JAGX) -0.34 (-20.61%) 1.31 Consumer Goods
Urban One Inc. (UONE) -1.80 (-19.98%) 7.21 Services

 

New York Stock Exchange (NYSE) 

On the New York Stock Exchange, Virgin Galactic Holdings Inc. (SPCE), PBF Energy Inc. (PBF), 3D Systems Corp. (DDD), Glaukos Corp. (GKOS), and Laredo Petroleum Inc. (LPI) stocks all experienced negative movement over the past week.

  • After its first flight into space last week, Virgin Galactic Holdings Inc. (SPCE) shares dropped this week, as the company has yet to produce a profit.
  • Despite soaring over the first six months of the year, petroleum refineries company PBF Energy Inc. (PBF) shares plunged this week following an analyst downgrade.
  • Shares of 3D printing company 3D Systems Corp. (DDD) dropped following news that competitor Desktop Metal had acquired Belgian company Aerosint.
  • Pharmaceutical company Glaukos Corp. (GKOS) shares plummeted following the release of the 2022 Medicare fees.
  • Laredo Petroleum Inc. (LPI) shares dropped this week following the energy company’s purchase agreement with Wells Fargo.

NYSE WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Virgin Galactic Holdings Inc. (SPCE) -19.00 (-38.62%) 30.20 Consumer Goods
PBF Energy Inc. (PBF) -3.62 (-27.10%) 9.74 Basic materials
3D Systems Corp. (DDD) -9.11 (-26.47%) 25.30 Technology
Glaukos Corp. (GKOS)  -19.46 (-25.45%) 57.01 Consumer Goods
Laredo Petroleum Inc. (LPI) -20.37 (-24.51%) 59.92 Consumer Goods

 

Highlights and Lowlights

After reaching all-time highs, this week was slower for all three US indices. The DJ30 dropped 0.5%, the SPX500 dropped 1% and the NSDQ100 dropped 1.9%.

Only 8% of SPX500 companies have reported their Q2 earnings, but of these, 85% of them have exceeded analysts’ estimates with their earning reports.

What’s in Store for the Week?

Earnings season continues with highly anticipated reports from United Airlines Holdings (UAL), Coca-Cola (KO), Johnson & Johnson (JNJ) and Netflix (NFLX).

The US housing market is due to be at the forefront of events next week, as economic reports on housing starts, mortgage applications, building permits, and existing home sales are set for release. After taking a dip in April, US housing starts bounced 3.6% despite the rising costs of labour and materials.


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