High five for Wall Street: Weekly Stock Market Update

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week included significant gains for Avis Budget Group Inc. (CAR), Bed Bath & Beyond Inc. (BBBY), iRhythm Technologies Inc. (IRTC), Confluent Inc. (CFLT) and Sangamo Biosciences Inc. (SGMO).

  • Avis Budget Group Inc. (CAR) shares skyrocketed after the rental car giant showed a return to record earnings and emphatic recovery from its pandemic slump.  
  • Bed Bath & Beyond Inc. (BBBY) shares shot up after the home goods retailer announced its collaboration with supermarket chain Kroger.
  • iRhythm Technologies Inc. (IRTC) shares jumped after the Centers for Medicare and Medicaid Services (CMS) released its Calendar Year 2022 Medicare Physician Fee Schedule (MPFS) Final Rule, which investors viewed as favourable to the medical device maker.
  • Confluent Inc. (CFLT) shares surged after the data analytics company released strong third-quarter earnings.
  • Sangamo Biosciences Inc. (SGMO) shares popped after the gene therapy specialist announced earnings which beat analysts’ forecasts. 

NASDAQ TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Avis Budget Group Inc. (CAR) 124.15 (+71.63%) 297.46 Services
Bed Bath & Beyond Inc. (BBBY) 8.53 (+60.75%) 22.57 Services
iRhythm Technologies Inc. (IRTC) 34.82 (+49.64%) 104.96 Consumer Goods
Confluent Inc. (CFLT) 25.65 (+35.22%) 93.60 Technology
Sangamo Biosciences Inc. (SGMO) 2.86 (+35.22%) 10.97 Healthcare

 

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for NeoPhotonics Corp. (NPTN), R.R. Donnelley & Sons Co. (RRD), Now Inc. (DNOW), Shake Shack Inc. (SHAK) and Dillards Inc. (DDS).

  • NeoPhotonics Corp. (NPTN) shares soared following news of a $918 million buyout proposal from Lumentum Holdings, as well as strong Q3 earnings results from the optoelectronic supplier. 
  • R.R. Donnelley & Sons Co. (RRD) shares popped following news that the marketing company will be acquired by private investment firm Atlas Holdings, in addition to reporting better-than-expected Q3 results.
  • Now Inc. (DNOW) shares jumped after the oil and gas equipment supplier reported its third-quarter financial results.
  • Shake Shack Inc. (SHAK) shares skyrocketed after the fast-food chain released positive financial results for the third quarter.
  • Shares of department store Dillards Inc. (DDS) continued to climb, trading up 31% for the week as part of a wider rally for retail sector stocks. 

NYSE TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
NeoPhotonics Corp. (NPTN) 5.78 (+57.11%) 15.90 Services
R.R. Donnelley & Sons Co. (RRD) 2.77 (+43.28%) 9.17 Services
Now Inc. (DNOW) 2.29 (+31.72%) 9.51 Basic Materials
Shake Shack Inc. (SHAK) 21.80 (+31.52%) 90.97 Consumer Goods
Dillards Inc. (DDS) 71.86 (+31.09%) 303.00 Services

 

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for Bluebird Bio Inc. (BLUE), Peloton Interactive (PTON), Kaltura Inc. (KLTR), Zillow Group Inc. (Z) and Urban One Inc. (UONE).

  • Bluebird Bio Inc. (BLUE) shares tanked after the gene therapy specialist released disappointing quarterly earnings.
  • Peloton Interactive (PTON) shares plunged after the fitness equipment maker revised its 2022 full-year guidance down, to investors’ dismay.
  • Kaltura Inc. (KLTR) shares dropped sharply following the video cloud service’s Q3 results.    
  • Zillow Group Inc. (Z) shares slid following news that the online real estate platform planned to close its home buying business, Zillow Offers.
  • Urban One Inc. (UONE) shares fell following news that Richmond, Virginia voters had rejected the media company’s proposed plans for a $565 million casino project.

 

NASDAQ WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Bluebird Bio Inc. (BLUE) -10.27 (-43.87%)  13.14 Consumer Goods
Peloton Interactive (PTON) -35.80 (-39.15%) 55.64 Services
Kaltura Inc. (KLTR) -3.46 (-36.65%)  5.98 Technology
Zillow Group Inc. (Z) -37.58 (-36.26%) 66.05 Financial 
Urban One Inc. (UONE) -3.03 (-31.89%) 6.47 Services

  

New York Stock Exchange (NYSE) 

On the New York Stock Exchange, Dell Technologies Inc. (DELL), Chegg Inc. (CHGG), Emergent BioSolutions Inc. (EBS), Tupperware Brands Corp. (TUP), and VMware (VMW) all experienced negative movement over the past week.

  • Tech conglomerate Dell Technologies Inc. (DELL) and virtualisation software company VMware (VMW) completed their long-awaited spinoff deal, resulting in Dell shedding its 81% stake in VMware.
  • Chegg Inc. (CHGG) shares tumbled after the educational technology company released disappointing third-quarter results, including pessimistic guidance.
  • Emergent BioSolutions Inc. (EBS) shares tanked after the US government cancelled a multimillion-dollar contract with the vaccine maker.
  • Tupperware Brands Corp. (TUP) shares fell following the plastic kitchenware company’s third-quarter earnings update.

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NYSE WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Dell Technologies Inc. (DELL) -53.63 (-48.76%) 56.36 Technology
Chegg Inc. (CHGG) -28.80 (-48.45%) 30.64 Consumer Goods
Emergent BioSolutions Inc. (EBS) -14.56 (-30.54%) 33.11 Healthcare
Tupperware Brands Corp. (TUP) -4.06 (-18.26%) 18.18 Consumer Goods
VMware (VMW) -27.15 (-17.90%) 124.55 Technology

 

Highlights and Lowlights

US stock markets gained for the fifth week in a row, starting November off with fresh record highs for all three major indices. Markets were bolstered by more earnings as well as labour data, and although the Fed announced that it will begin tapering as expected later this month, interest rates are safe for the time being. The SPX500 climbed 2%, the DJ30 gained 1.4% and the NSDQ100 popped 3.1%.

What’s in Store for the Week?

The earnings season excitement is still in full swing, with reports this week from many investor favourites such as PayPal, AMC Entertainment, Virgin Galactic, Palantir, BioNTech, NIO, Disney, and Beyond Meat.

This week will reveal more key economic data, including the Fed’s consumer inflation expectations survey, and the US Bureau of Labor Statistics’ Producer Price Index (PPI) and Consumer Price Index (CPI). The focus for investors is on retail inflation for October, after September saw rates at thirteen-year highs. In addition, reports on small business optimism, consumer sentiment, and job openings are also expected.


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