Rebound rally to record highs: Weekly Stock Market Update

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week included significant gains for Del Taco Restaurants Inc. (TACO), The Lovesac Company (LOVE), Trupanion Inc. (TRUP), SweetGreen (SG) and Sorrento Therapeutics Inc. (SRNE).

  • Del Taco Restaurants Inc. (TACO) shares skyrocketed after the Mexican fast-food chain announced a $575 million deal to be acquired by fast-food restaurant chain Jack in the Box.
  • The Lovesac Company (LOVE) shares surged in response to the furniture maker’s positive third-quarter earnings. 
  • Trupanion Inc. (TRUP) shares popped after the veterinary health insurer announced a partnership with pet industry leader Chewy.
  • Shares of salad chain SweetGreen (SG) bounced back from their post-IPO low amid improved investor sentiment. 
  • Sorrento Therapeutics Inc. (SRNE) shares climbed after Scilex Holding Company, the biopharmaceutical company’s subsidiary, announced positive results from trials for its sciatica treatment, which received Fast Track status from the FDA.

 

NASDAQ TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Del Taco Restaurants Inc. (TACO) 4.97 (+66.00%) 12.50 Consumer Goods
The Lovesac Company (LOVE) 19.55 (+31.65%) 81.31 Consumer Goods
Trupanion Inc. (TRUP) 32.62 (+29.23%) 144.20 Financial
SweetGreen (SG) 7.12 (+28.69%) 31.94 Consumer Goods
Sorrento Therapeutics Inc. (SRNE) 1.25 (+25.38%) 6.20 Consumer Goods

 

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for Bright Health Group Inc. (BHG), Gol Linhas Aereas Inteligentes SA (GOL), Laredo Petroleum Inc. (LPI), Nabors Industries Ltd. (NBR) and New Oriental Education & Technology Group Inc. ADR (EDU).

NYSE TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Bright Health Group Inc. (BHG) 0.99 (+29.46%) 4.35 Healthcare 
Gol Linhas Aereas Inteligentes SA (GOL) 1.50 (+28.04%) 6.85 Consumer Goods
Laredo Petroleum Inc. (LPI) 14.27 (+25.75%) 69.69 Consumer Goods
Nabors Industries Ltd. (NBR) 18.41 (+23.29%) 97.44 Consumer Goods
New Oriental Education & Technology Group Inc. ADR (EDU) 0.43 (+22.99%) 2.30 Consumer Goods

 

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for Reata Pharmaceuticals Inc. (RETA), Everbridge Inc. (EVBG), Adagio Therapeutics Inc. (ADGI), BioNTech SE (BNTX) and HealthEquity Inc. (HQY).

  • Reata Pharmaceuticals Inc. (RETA) shares crashed after the FDA’s advisory committee unanimously rejected the biopharmaceutical company’s drug candidate meant to treat chronic kidney disease.
  • Everbridge Inc. (EVBG) shares tanked after analysts downgraded the stock following an abrupt announcement that the software company’s CEO intended to resign.
  • Shares of Adagio Therapeutics Inc. (ADGI), which popped last week on hopes that the biopharma company’s antiviral COVID-19 treatment candidate would be effective against the Omicron variant, retreated following news that Adagio does not have a timeline regarding an FDA emergency use authorization request.
  • BioNTech SE (BNTX) shares tumbled as early lab results showed that a standard two-dose regimen of the vaccine maker’s COVID-19 shots would not provide effective protection against the Omicron variant. 
  • HealthEquity Inc. (HQY) shares fell after the health savings account provider’s third-quarter earnings results failed to meet analysts’ forecasts. 

NASDAQ WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Reata Pharmaceuticals Inc. (RETA) -49.37 (-62.74%)  29.32 Consumer Goods
Everbridge Inc. (EVBG) -48.12 (-43.30%)  63.00 Technology
Adagio Therapeutics Inc. (ADGI) -12.60 (-27.49%) 33.23 Consumer Goods
BioNTech SE (BNTX) -86.38 (-25.11%) 257.68 Consumer Goods
HealthEquity Inc. (HQY) -13.45 (-24.77%) 40.85 Consumer Goods

  

New York Stock Exchange (NYSE) 

On the New York Stock Exchange, Renren Inc. (RENN), Torrid Holdings Inc. (CURV), Phreesia Inc. (PHR), Blue Apron Holdings Inc. (APRN) and Chewy (CHWY) all experienced negative movement over the past week.

  • Renren Inc. (RENN) shares crashed after the Chinese social media company’s $300 million settlement with investors, who accused Renren co-founders of self-dealing, was rejected by a New York State Supreme Court judge.
  • Torrid Holdings Inc. (CURV) shares tanked after the plus-size women’s apparel brand posted disappointing third-quarter earnings.
  • Phreesia Inc. (PHR) shares dropped after the health care developer missed earnings, reporting heavy losses.
  • Blue Apron Holdings Inc. (APRN) shares plunged following a significant sell-off by Matthew B. Salzberg, a major shareholder of the meal kit maker.
  • Chewy (CHWY) shares slipped despite solid Q3 earnings as investors seemed concerned that the online pet retailer’s pandemic growth may be slowing down.

 

NYSE WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Renren Inc. (RENN) -12.83 (-50.61%) 12.52 Technology
Torrid Holdings Inc. (CURV) -4.62 (-29.00%) 11.31 Consumer Goods
Phreesia Inc. (PHR) -13.44 (-24.77%) 40.83 Technology
Blue Apron Holdings Inc. (APRN) -2.00 (-17.61%) 9.36 Consumer Goods
Chewy (CHWY) -10.93 (-17.43%) 51.76 Consumer Goods

 

Highlights and Lowlights

After two weeks in the red, Wall Street soared again as concerns about the COVID-19 Omicron variant eased. The SPX500 gained 3.8%, its strongest week in 10 months. The DJ30 popped 4% and the NSDQ100 was up by 3.6%. 

The US labour market showed renewed signs of strength as jobless claims fell to a 52-year low. But data confirmed that consumer inflation continued to climb in November, topping 5% for the sixth month in a row, reaching its highest level since 1982. 

 

What’s in Store for the Week?

Earnings season is winding down, but there are still a few big reports to come. Adobe, FedEx and Olive Garden parent Darden Restaurants will post their earnings this week.

Investors will be watching the two-day FOMC meeting beginning Tuesday to see if improved labour market conditions and rising inflation will prompt the Fed to accelerate tapering its monthly bond-purchasing program. Key data on the housing market and retail sales for November are also expected. 


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