Retail and earnings still going strong: Weekly Stock Market Update

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week included significant gains for SweetGreen (SG), Lucid Group Inc. (LCID), BioNTech SE (BNTX), Dollar Tree Inc. (DLTR) and Seres Therapeutics Inc. (MCRB).

  • SweetGreen (SG) shares skyrocketed after the salad chain’s stock market debut.  
  • Lucid Group Inc. (LCID) shares surged after the electric vehicle (EV) maker reported positive third-quarter earnings and confirmed its production plans to build 20,000 vehicles next year.
  • BioNTech SE (BNTX) shares jumped after the biotech company’s COVID-19 vaccine, developed with pharmaceutical giant Pfizer, received Food and Drug Administration (FDA) authorisation as a booster shot. In addition, BioNTech announced that the FDA had granted fast track designation for leading pipeline drug BNT111, showing investors that it aims to be more than just a coronavirus stock.
  • Dollar Tree Inc. (DLTR) shares popped after investment firm Mantle Ridge acquired a $1.8 billion stake in the discount chain.  
  • Seres Therapeutics Inc. (MCRB) shares climbed as investors continued to be excited by the microbiome therapeutics company following its third-quarter earnings report. 

NASDAQ TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
SweetGreen (SG) 28.00 (+112.00%) 53.00 Consumer Goods
Lucid Group Inc. (LCID) 11.28 (+25.68%) 55.21 Services
BioNTech SE (BNTX) 51.61 (+21.67%) 289.75 Consumer Goods
Dollar Tree Inc. (DLTR) 21.88 (+19.35%) 134.96 Consumer Goods
Seres Therapeutics Inc. (MCRB) 1.44 (+18.65%) 9.16 Consumer Goods

 

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for Roblox Corp. (RBLX), TAL Education Group (TAL), Macy’s Inc. (M), ZIM Shipping Services Ltd. (ZIM) and GameStop Corp. (GME).

  • Roblox Corp. (RBLX) shares continued to soar after sportswear giant Nike announced its branded virtual world, Nikeland, on the Roblox gaming platform.
  • Shares of Chinese tutoring company TAL Education Group (TAL) gained amid overall Chinese stock market strength, as well as reports that China planned to issue licenses to after-school tutoring companies.
  • Macy’s Inc. (M) shares jumped after the retail giant released record third-quarter earnings that crushed analysts’ estimates.
  • ZIM Shipping Services Ltd. (ZIM) shares climbed after the Israel-based container transport company posted record results for Q3 2021, amid a boom in the global container shipping sector.
  • GameStop Corp. (GME) shares were up after a tweet by the gaming software company’s chairman Ryan Cohen created a stir on social media. 

NYSE TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Roblox Corp. (RBLX) 27.14 (+25.23%) 134.72 Technology
TAL Education Group (TAL) 0.76 (+17.27%) 5.16 Consumer Goods
Macy’s Inc. (M) 4.25 (+13.95%) 34.71 Consumer Goods
ZIM Shipping Services Ltd. (ZIM) 6.96 (+13.86%) 57.17 Industrial Goods
GameStop Corp. (GME) 26.70 (+13.21%) 228.80 Services

 

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for StoneCo Ltd. (STNE), Evofem Biosciences Inc. (EVFM), HEXO Corp. (HEXO), Marathon Digital Holdings Inc. (MARA) and TaskUs Inc. (TASK).

  • StoneCo Ltd. (STNE) shares tanked after the Brazilian fintech company released disappointing quarterly earnings.
  • Evofem Biosciences Inc. (EVFM) shares plunged after the biopharmaceutical company reported its Q3 financial results.
  • Shares of Canadian cannabis company HEXO Corp. (HEXO) dropped following coverage by analyst Guarav Jain, who downgraded several stocks in the Canadian cannabis market. 
  • Marathon Digital Holdings Inc. (MARA) shares slid after the crypto miner surprised investors with a large convertible debt offering to fund the expansion of its Bitcoin mining fleet, together with news that the Securities and Exchange Commission (SEC) was looking into Marathon’s stock funded data centre contracts.
  • TaskUs Inc. (TASK) shares fell after an analyst reiterated the online customer service company’s outperform rating, following its Q3 earnings release.

 

NASDAQ WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
StoneCo Ltd. (STNE) -11.08 (-36.68%)  19.13 Consumer Goods
Evofem Biosciences Inc. (EVFM) -0.21 (-31.34%) 0.46 Consumer Goods
HEXO Corp. (HEXO) -0.52 (-28.89%)  1.28 Consumer Goods
Marathon Digital Holdings Inc. (MARA) -21.24 (-27.98%) 54.68 Consumer Goods
TaskUs Inc. (TASK) -14.78 (-22.89%) 49.79 Services

  

New York Stock Exchange (NYSE) 

On the New York Stock Exchange, Riskified Inc. (RSKD), Helmerich & Payne Inc. (HP), Jumia Technologies AG (JMIA), Orion Office Reit Inc. (ONL) and Hertz Global Holdings Inc. (HTZ) all experienced negative movement over the past week.

  • Despite delivering positive quarterly results, Riskified Inc. (RSKD) shares crashed as investors saw warning signs concerning the fintech company’s long-term growth. 
  • Helmerich & Payne Inc. (HP) shares tumbled after the oil rig operator reported higher-than-expected losses and warned of rising costs amid worsening inflation in the energy sector. 
  • Jumia Technologies AG (JMIA) shares tanked after the African e-commerce company reported disappointing third-quarter results.
  • As soon as Realty Income Corporation spin-off Orion Office Reit Inc. (ONL) began trading, shares of the new office building investment company immediately plunged.
  • Hertz Global Holdings Inc. (HTZ) shares continued to drop after the car rental company sold a $1.5 billion high-yield bond in order to repurchase outstanding preferred stock.

 

NYSE WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Riskified Inc. (RSKD) -7.35 (-40.47%) 10.81 Services
Helmerich & Payne Inc. (HP) -8.53 (-25.69%) 24.68 Consumer Goods
Jumia Technologies AG (JMIA) -4.72 (-25.09%) 14.09 Services
Orion Office Reit Inc. (ONL) -5.36 (-23.30%) 17.64 Financial
Hertz Global Holdings Inc. (HTZ) -6.17 (-22.91%) 20.77 Services

 

Highlights and Lowlights

Despite rising prices, American consumers continued to spend, resulting in strong retail numbers but also worrying investors about further risk of inflation. The SPX500 and the NSDQ100 posted gains of 0.4% and 1.3% respectively, recovering from modest losses in the previous week. The DJ30, however, slipped 1.3%.

Rising COVID-19 cases in some parts of Europe, the US, and elsewhere weighed on the markets. US President Joe Biden signed a $1 trillion infrastructure bill into law as oil prices fell for the second week in a row. 

What’s in Store for the Week?

The week will be a short one due to the American Thanksgiving holiday on Thursday but still packed with more earnings reports from top retail and tech companies, including Best Buy, Dollar Tree, and Gap as well as Zoom, Dell, and Hewlett Packard.

Markets will also close early on Black Friday, and investors will be watching sales numbers as a preview for the Christmas holiday shopping season. The next chair of the Federal Reserve could be decided on very soon, as US President Joe Biden has interviewed both current chair Jerome Powell and Lael Brainard for the position. The Fed will also be releasing its minutes from the last FOMC meeting which took place earlier in the month.


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