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\u2019shares jumped 6% after investment firm BTIG initiated coverage of the software company\u2019s stock with a buy rating. BTIG said in a note to clients that Datadog is set up for near- and long-term success.
Alibaba\u2019s 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\u2019s 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\u2019s Fund.
Alphabet\u2019s stock price spiked 2.7% after Google\u2019s 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 \u2014 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\u2019s shares fell 1.7% on news of a potential breach from a hacking group. Okta said it had \u201cdetected an attempt to compromise the account of a third party customer support engineer working for one of our subprocessors\u201d 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\u2019s StreetAccount. Carnival also reported revenues of $1.62 billion, compared to estimates of $2.26 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"
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 …<\/p>\n","protected":false},"author":13,"featured_media":62504,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[8161,7236,7113,7513,8054,7410,6862],"class_list":["post-62499","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-alibaba","tag-bank-of-america","tag-earnings","tag-gains","tag-nike","tag-pfizer","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/62499","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=62499"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/62499\/revisions"}],"predecessor-version":[{"id":62505,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/62499\/revisions\/62505"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/62504"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=62499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=62499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=62499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}