Oil climbs higher while Bitcoin rollercoasters: Weekly Stock Market Update

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week included significant gains for Canaan Inc. (CAN), Qutoutiao Inc. (QTT), Uniti Group Inc. (UNIT), IZEA Worldwide Inc. (IZEA), and Trupanion Inc. (TRUP). 

  • Shares of Bitcoin mining equipment provider Canaan Inc. (CAN) surged following the cryptocurrency’s new record high, reached this week, which garnered investors’ interest in the entire cryptocurrency space.
  • Shares of Chinese mobile content aggregator Qutoutiao Inc. (QTT) soared 20.9% and were trading at $1.20 at the close of Friday trading.
  • Uniti Group Inc. (UNIT) shares jumped after a report suggesting the broadband network owner could be acquired by the privately held company, Zayo Group.
  • Shares of IZEA Worldwide Inc. (IZEA) climbed after the top sports and entertainment firm The Cut announced it was joining the influencer marketing company’s Talent Partner Program. 
  • Trupanion Inc. (TRUP) shares popped after the pet insurance company received a Buy rating from Bank of America analysts.

NASDAQ TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Canaan Inc. (CAN) 1.64 (+25.19%) 8.15 Technology
Qutoutiao Inc. (QTT) 0.20 (+20.91%) 1.20 Technology
Uniti Group Inc. (UNIT) 2.30 (+19.15%) 14.31 Services
IZEA Worldwide Inc. (IZEA) 0.34 (+17.89%) 2.24 Services
Trupanion Inc. (TRUP) 16.29 (+17.87%) 107.45 Financial

 

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for Dutch Bros Inc. (BROS), Athene Holding Ltd. (ATH), Apollo Global Management Inc. (APO), Asana (ASAN), and Skillz Inc. (SKLZ).

  • Dutch Bros Inc. (BROS) shares skyrocketed on a report from Pacer.ai, suggesting that the coffee chain is growing faster than its competitors. 
  • Athene Holding Ltd. (ATH) shares soared after the insurance company announced it was buying a majority interest in technology-driven mortgage lender Newfi. The investment will be managed by Apollo Global Management Inc. (APO), whose shares also jumped on the news.
  • Shares of company Skillz Inc. (SKLZ) surged after the company announced it will be releasing its Q3 2021 results next week. 
  • Asana (ASAN) shares popped after tech researcher IDC named the project management software firm a leader in its annual review of app vendors.

NYSE TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Dutch Bros Inc. (BROS) 15.83 (+29.85%) 68.86 Consumer Goods
Athene Holding Ltd. (ATH) 14.05 (+18.55%) 89.80 Financial
Apollo Global Management Inc. (APO) 12.30 (+18.24%) 79.72 Financial
Skillz Inc. (SKLZ) 1.38 (+15.81%) 10.11 Technology
Asana (ASAN) 17.97 (+15.48) 134.07 Services

 

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for Ocular Therapeutix Inc. (OCUL), Revance Therapeutics Inc. (RVNC), Agenus Inc. (AGEN), Novavax Inc. (NVAX), and Ionis Pharmaceuticals (IONS).

  • Ocular Therapeutix Inc. (OCUL) shares tanked after the company reported disappointing Phase II clinical trial results of a medicine meant to treat dry eye disease.
  • Revance Therapeutics Inc. (RVNC)  shares plummeted after the FDA rejected the company’s DaxibotulinumtoxinA which is meant to treat moderate to severe glabellar lines.  
  • Shares of Agenus Inc. (AGEN)  dropped after the company reported bad news to investors concerning the FDA’s recommendation to withdraw its application for its experimental cancer immunotherapy balstilimab.  
  • Novavax Inc. (NVAX) shares fell after the company hit an obstacle last week as it was reported to be incurring manufacturing difficulties in producing a vaccine that would pass regulatory standards.
  • Shares of the biotech firm Ionis Pharmaceuticals (IONS) fell last week after one of its experimental drugs designed to treat amyotrophic lateral sclerosis failed a Phase III trial.

NASDAQ WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Ocular Therapeutix Inc. (OCUL) -4.28 (-38.25%)  6.91 Consumer Goods
Revance Therapeutics Inc. (RVNC) -7.27 (-32.01%) 15.44 Consumer Goods
Agenus Inc.

(AGEN)

-1.30 (-24.48%)  4.01 Healthcare
Novavax Inc. (NVAX) -27.39 (-16.91%) 134.56 Consumer Goods
Ionis Pharmaceuticals (IONS) -4.66 (-13.28%) 30.44 Healthcare

  

New York Stock Exchange (NYSE) 

On the New York Stock Exchange, Snapchat Inc. (SNAP), Azul SA (AZUL), Gol Linhas Aereas Inteligentes SA (GOL), ATI Physical Therapy Inc. (ATIP) and BRF SA (BRFS) all experienced negative movement over the past week.

  • Snapchat Inc. (SNAP) shares plunged after it acknowledged in its quarterly report that its ad business had been negatively affected by Apple’s new privacy terms rolled out in the summer.
  • Brazilian-based airline and one of Latin America’s top carriers, Azul SA (AZUL) saw its shares tumble last week as Brazil’s economy is at risk of a recession.
  • Another Brazilian airline, Gol Linhas Aereas Inteligentes SA (GOL), the country’s largest domestic airline, dropped almost 20% over the past week and closed Friday trading just above $6.
  • ATI Physical Therapy Inc. (ATIP) shares dropped after the company reported Q3 revenues of more than $11 million below expectations.
  • BRF SA (BRFS) shares fell 18% last week and were trading at just under $4 at the close of Friday trading.

NYSE WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Snapchat Inc. (SNAP) -22.19 (-28.72%) 55.06 Technology 
Azul SA (AZUL) -3.96 (-20.13%) 15.71 Consumer Goods
Gol Linhas Aereas Inteligentes SA (GOL) -1.46 (-19.26%) 6.12 Consumer Goods
ATI Physical Therapy Inc. (ATIP) -0.67 (-18.98%) 2.86 Services
BRF SA (BRFS) -0.87 (-18.12%) 3.93 Consumer Goods

Highlights and Lowlights

Oil continued to surge last week closing out Friday above $84. It rose in the past week more than $1.50 and month-to-date has risen almost $11. Bitcoin began the week just above $60,000 and proceeded to rocket above $66,000, although it finished the week where it started. The DJ30 finished out the week with its first record close since August 16, as it climbed more than 70 points on Friday to close at 35,677 points.

What’s in Store for the Week?

Some major companies are set to announce earnings reports this week, including Facebook, HSBC on Monday, Microsoft, Google and Visa on Tuesday, Apple and Amazon on Thursday and oil giants Exxon-Mobil and Chevron on Friday. For a list of all the companies set to report earnings this week, see the eToro earnings season calendar.

On Wednesday, the Bank of Canada will publish its monetary policy report as well as its rate statement. On Thursday, the ECB will put out its monetary policy statement followed by a press conference. In addition, the US BEA will be reporting its advanced third quarter GDP on Thursday and CPI for September. Although it is tentative and may be delayed, the US Treasury Department is scheduled to release its biannual currency report on Friday.  


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