Weekly Stock Market Update: Flat week for Wall Street

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week showed significant gains for Vaxart Inc. (VXRT), Globalstar (GSAT), 1 800 FLOWERS COM (FLWS), Ocugen Inc. (OCGN) and Proofpoint Inc. (PFPT).

  • Vaxart Inc. (VXRT) shares skyrocketed after the biotech company released a study indicating that American adults would prefer oral tablet vaccines — such as Vaxart’s oral COVID-19 vaccine candidate, now in development — to injections.
  • Globalstar (GSAT) shares soared after the mobile satellite services provider presented a financial update on its past growth and future plans. 
  • 1 800 FLOWERS COM (FLWS) shares surged following the release of the online florist and gift retailer’s strong third-quarter results.
  • Analyst and investor enthusiasm has led to a recent trading frenzy for Ocugen Inc. (OCGN), based on the biotech company’s deal with Bharat Biotech to market its COVID-19 vaccine in the US.
  • Proofpoint Inc. (PFPT) shares jumped after the cybersecurity and compliance company announced a multi-billion dollar cash deal to be acquired by private equity firm Thoma Bravo. 

 

NASDAQ TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Vaxart Inc. (VXRT) 5.22 (+93.88%) 10.78 Consumer goods
Globalstar (GSAT) 0.35 (+37.98%) 1.27 Technology
1 800 FLOWERS COM (FLWS) 8.00 (+33.34%) 31.98 Services
Ocugen Inc. (OCGN) 3.04 (+31.57%) 12.67 Consumer goods
Proofpoint Inc. (PFPT) 40.33 (30.60%) 172.11 Services

 

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for Prog Holdings Inc. (PRG), HEXO Corp. (HEXO), GSX TEchedu Inc. (GSX), Deutsche-Bank (DB) and ZIM Shipping Services Ltd. (ZIM).

  • Shares of rent-to-own company Prog Holdings Inc. (PRG) surged, mainly due to optimistic expectations by investors for accelerated recovery of the consumer loan sector. 
  • HEXO Corp. (HEXO) shares jumped after the Canadian cannabis company’s second-quarter results showed a year-over-year (YOY) revenue gain of 94% and success in achieving positive Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA).
  • GSX TEchedu Inc. (GSX) shares soared after Goldman Sachs raised its outlook for the China-based distance learning company.
  • Deutsche-Bank (DB) shares popped after the German bank posted its best quarterly earnings in seven years.
  • ZIM Shipping Services Ltd. (ZIM) shares were higher after the container liner shipping company announced a collaboration with Israeli startup Sodyo to produce innovative scanning solutions.

NYSE TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Prog Holdings Inc. (PRG) 7.89 (+18.33%) 50.94 Consumer Goods
HEXO Corp. (HEXO) 1.04 (+18.31%) 6.72 Consumer Goods
GSX TEchedu Inc. (GSX) 4.88 (+18.03%) 31.95 Technology
Deutsche-Bank (DB) 2.12 (+17.85%) 22.23 Services
ZIM Shipping Services Ltd. (ZIM) 5.01 (+15.44%) 32.44 Industrial Goods

 

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for Adverum Biotechnologies Inc. (ADVM), Cara Therapeutics (CARA), Agora Inc. (API), Enphase Energy Inc. (ENPH) and Cirrus Logic Inc. (CRUS).

  • Adverum Biotechnologies Inc. (ADVM) and Cara Therapeutics (CARA) shares crashed after each of the biotech companies reported negative news regarding their respective treatments’ phase 2 clinical trials.
  • Agora Inc. (API) shares tumbled this week despite a proposed Buy rating from eight different brokerage firms.
  • Enphase Energy Inc. (ENPH) shares dropped after the solar power provider reported its first-quarter 2021 earnings which, although mostly positive, left investors focused on supply problems affecting the business going forward.
  • Cirrus Logic Inc. (CRUS) shares slid after the chip maker’s fourth-quarter earnings report fell short of expectations.

 

NASDAQ WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Adverum Biotechnologies Inc. (ADVM) -5.60 (-58.95%)  3.90 Consumer Goods
Cara Therapeutics (CARA) -13.39 (-50.84%) 12.95 Healthcare
Agora Inc. (API) -11.19 (-18.71%)  48.61 Technology
Enphase Energy Inc. (ENPH) -27.72 (-16.60%) 139.25 Industrial Goods
Cirrus Logic Inc. (CRUS) -12.57 (-13.03%) 74.41 Technology

  

New York Stock Exchange (NYSE) 

On the New York Stock Exchange, R.R.Donnelley & Sons Co. (RRD), NeoPhotonics Corp. (NPTN), American Well Corp. (AMWL), Twitter (TWTR) and Resolute Forest Products Inc. (RFP) stocks all experienced negative movement over the past week.

 

NYSE WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
R.R.Donnelley & Sons Co. (RRD) -1.72 (-28.43%) 4.33 Services
NeoPhotonics Corp. (NPTN) -2.55 (-21.41%) 9.36 Services
American Well Corp. (AMWL) -3.34 (-17.83%) 15.39 Services
Twitter (TWTR) -11.80 (-17.61%) 55.22 Technology
Resolute Forest Products Inc. (RFP) -2.22 (-14.10%) 13.52 Consumer Goods

 

Highlights and Lowlights

For the second week in a row, major US indexes showed little movement. The DJ30 and NSDQ100 finished out the week slightly negative (-0.5% and -0.4%, respectively) and the SPX500 was flat (0.0%). This was once again despite positive economic news. Thus far, 60% of SPX500 companies have reported first-quarter earnings, 86% of which had results that exceeded analysts’ expectations. The US economy is nearly back to its pre-pandemic state, with the GDP seeing robust growth for the third consecutive quarter.

 

What’s in Store for the Week?

Earnings season continues with Pfizer, Beyond Meat, General Motors and PayPal reporting in the week ahead.

A new monthly labour market update due for release on Friday will show investors whether the labour market in April maintained the previous month’s strong momentum.

 


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