Wall Street in retreat: Weekly Stock Market Update

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week included significant gains for PubMatic Inc. (PUBM), The Trade Desk Inc. (TTD), Sundial Growers Inc. (SNDL), Riot Blockchain Inc. (RIOT) and Altimeter Growth Corp. (AGC).

  • PubMatic Inc. (PUBM) shares skyrocketed after the adtech company beat analyst expectations for both revenue and earnings in its third-quarter earnings report.  
  • The Trade Desk Inc. (TTD) shares shot up after the ad buying platform manager released great third-quarter earnings, which had analysts reacting with bullish target price boosts.
  • Sundial Growers Inc. (SNDL) shares jumped after the Canadian cannabis company released its third-quarter earnings report and announced a new share repurchase program.
  • Shares of cryptocurrency miner Riot Blockchain Inc. (RIOT) surged following a new all-time high for Bitcoin.
  • Shares of special purpose acquisition company (SPAC) Altimeter Growth Corp. (AGC) popped ahead of its reverse merger target, Grab Holdings’ earnings release although some gains were lost after Grab’s numbers turned out to be disappointing. 

NASDAQ TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
PubMatic Inc. (PUBM) 12.64 (+47.23%) 39.40 Technology
The Trade Desk Inc. (TTD) 31.78 (+46.36%) 100.33 Services
Sundial Growers Inc. (SNDL) 0.2772 (+43.11%) 0.9202 Consumer Goods
Riot Blockchain Inc. (RIOT) 12.70 (+40.33%) 44.19 Consumer Goods
Altimeter Growth Corp. (AGC) 4.44 (+37.22%) 16.37 Services

 

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for New Relic (NEWR), Roblox Corp. (RBLX), Babcock & Wilcox Enterprises, Inc. (BW), Unity Software Inc. (U) and ATI Physical Therapy Inc. (ATIP).

  • New Relic (NEWR) shares soared after the software-as-a-service (SaaS) company reported strong fiscal second-quarter results.
  • Roblox Corp. (RBLX) shares popped after the online gaming platform released excellent Q3 results.
  • Babcock & Wilcox Enterprises, Inc. (BW) shares jumped after the power and industrial markets supplier beat earnings estimates.
  • Unity Software Inc. (U) shares climbed after the interactive gaming platform posted positive earnings and better-than-expected sales.
  • ATI Physical Therapy Inc. (ATIP) shares were up after the PT chain’s earnings report showed investors that the company has been paring its losses since last quarter. 

NYSE TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
New Relic (NEWR) 34.48 (+39.55%) 121.65 Technology
Roblox Corp. (RBLX) 29.59 (+37.94%) 107.58 Technology
Babcock & Wilcox Enterprises, Inc. (BW) 2.33 (+31.07%) 9.83 Industrial Goods
Unity Software Inc. (U) 44.69 (+29.41%) 196.65 Consumer Goods
ATI Physical Therapy Inc. (ATIP) 0.88 (+28.03%) 4.02 Services

 

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for Amyris Inc. (AMRS), eHealth Inc. (EHTH), Bumble Inc. (BMBL), Bakkt Holdings (BKKT) and Nuwellis Inc. (NUWE).

  • Amyris Inc. (AMRS) shares tanked after the synthetic biology specialist released disappointing quarterly earnings.
  • eHealth Inc. (EHTH) shares plunged after the online insurance company missed earnings estimates and revised its full-year revenue guidance downwards.
  • Bumble Inc. (BMBL) shares dropped after reporting a decline in paying users, which caused analysts to lower their price targets for the dating app stock. 
  • Bakkt Holdings (BKKT) shares slid after the newly public digital asset marketplace released its first earnings report, which fell short of expectations.
  • Nuwellis Inc. (NUWE) shares fell as the healthcare company released disappointing earnings.

 

NASDAQ WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Amyris Inc. (AMRS) -6.09 (-43.22%)  8.00 Basic Materials
eHealth Inc. (EHTH) -12.40 (-30.69%) 28.00 Financial 
Bumble Inc. (BMBL) -15.45 (-29.71%)  36.55 Technology
Bakkt Holdings (BKKT) -8.40 (-25.80%) 24.17 Services
Nuwellis Inc. (NUWE) -0.49 (-21.68%) 1.77 Consumer Goods

  

New York Stock Exchange (NYSE) 

On the New York Stock Exchange, Bright Health Group Inc. (BHG), Party City Holdco Inc. (PRTY), Fortuna Silver Mines Inc. (FSM), Hertz Global Holdings Inc. (HTZ) and 3D Systems Corp. (DDD) all experienced negative movement over the past week.

 

NYSE WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Bright Health Group Inc. (BHG) -2.81 (-37.22%) 4.74 Healthcare
Party City Holdco Inc. (PRTY) -2.60 (-28.57%) 6.50 Consumer Goods
Fortuna Silver Mines Inc. (FSM) -1.22 (-23.97%) 3.87 Basic Materials
Hertz Global Holdings Inc. (HTZ) -7.27 (-21.26%) 26.95 Services
3D Systems Corp. (DDD) -6.69 (-20.69%) 25.65 Technology

 

Highlights and Lowlights

The major US indices all fell slightly, snapping a streak of five positive weeks in a row and retreating from record highs set the previous week as inflation concerns weighed on investors. The SPX500 slipped -0.3%, the DJ30 dipped -0.6% and the NSDQ100 dropped -0.7%.

Inflation fears drove the price of gold to its highest level in over five months. Bitcoin also surged to reach a new all-time high, only to give up much of its gain later in the week.

What’s in Store for the Week?

This week, many of the largest US retailers report earnings, including Walmart, Target, and Macy’s, as well Chinese e-commerce giants Alibaba and JD.com. WeWork, NVIDIA and Cisco will report as well.

Investors will be watching closely for the US Census Bureau’s report on retail sales on Tuesday, ahead of the upcoming holiday shopping season. The National Association of Home Builders (NAHB) releases its housing market index on Tuesday, and the Census Bureau will follow on Wednesday with US housing starts and building permits, expected to show a rise in housing starts for October amid higher costs for building materials, supply constraints, and labour shortages which have kept home prices elevated.


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