Nike, Pfizer, Alibaba Stocks Among North America Session’s Winners

Shares of Nike jumped 2.2% after the company reported a beat on the top and bottom lines in the third quarter. The retailer reported earnings of 87 cents per share on revenues of $10.87 billion, topping estimates of 71 cents per share on revenues of $10.59 billion. Nike delayed giving its outlook for the year.

As for GameStop, the shares of the video-game retailer jumped 30.7%. There was no clear reason behind the move. The firm reported quarterly results last week, posting a per-share loss of $1.86 compared to expected earnings of 85 cents per share. Shares of AMC Entertainment, a fellow meme-stock favorite, also jumped 11%.

Datadog’shares jumped 6% after investment firm BTIG initiated coverage of the software company’s stock with a buy rating. BTIG said in a note to clients that Datadog is set up for near- and long-term success.

Alibaba’s shares jumped 11% after the of the China-based e-commerce giant increased its share buyback program to $25 billion from $15 billion, effective for a two-year period through March 2024. Alibaba also appointed Weijian Shan, executive chairman of Hong Kong-headquartered investment group PAG, to its board as an independent director.

Tencent Music Entertainment saw its shares jump 9.6% after it reported better-than-expected earnings for the most recent quarter. Tencent Music also said it would pursue a secondary listing on the Hong Kong Stock Exchange.

Pfizer’s stock price slipped 2.1% after the company said it will distribute up to four million treatment courses of its oral Covid pill to dozens of poorer nations in a partnership with the United Nations Children’s Fund.

Alphabet’s stock price spiked 2.7% after Google’s parent company spun off Sandbox AQ, a quantum computing start-up that includes former Google CEO Eric Schmidt as investor and chairman of the board.

Sherwin-Williams gained 1.7% after Bank of America upgraded the stock to a buy from neutral. Analyst Steve Byrne said the issues facing the chemicals sector are already accounted for in the stock price and that the shares could be a way to bet on the US economy over Europe.


Energy stocks — Several energy stocks were lower on Tuesday and were the top decliners in the S&P 500 after jumping in the previous session, as investors paused to take profits. Hess and Occidental declined more than 2%. EOG, Diamondback and Marathon declined more than 1%. Energy is the only sector in the green so far in 2022.

Okta’s shares fell 1.7% on news of a potential breach from a hacking group. Okta said it had “detected an attempt to compromise the account of a third party customer support engineer working for one of our subprocessors” but found no new evidence of an attack.

Carnival cruise company slipped less than 1% after it provided a business update for the first quarter that includes a net loss of $1.9 billion, compared with estimates of $1.36 billion, according to FactSet’s StreetAccount. Carnival also reported revenues of $1.62 billion, compared to estimates of $2.26 billion.