Weekly Analyst Update — August 9

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week included significant gains for Arcturus Therapeutics Holdings Inc. (ARCT), Robinhood Markets Inc. (HOOD), eXp World Holdings Inc. (EXPI), TravelCenters of America LLC. (TA), and Editas Medicine Inc. (EDIT).

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for Kadmon Holdings Inc. (KDMN), ATI Physical Therapy Inc. (ATIP), Under Armour Inc. (UAA), LiveRamp Holdings (RAMP) and Switch Inc. (SWCH).

  • Kadmon Holdings Inc. (KDMN) shares soared after the biopharmaceutical company’s drug Rezurock received FDA approval and its second-quarter financial and operational results were released.
  • ATI Physical Therapy Inc. (ATIP) shares rallied sharply after last week’s crash, but tapered off following reports of an investigation of possible securities law violations by the physical therapy chain.
  • Under Armour Inc. (UAA) shares popped after the athletic apparel company beat second-quarter earnings expectations.
  • LiveRamp Holdings (RAMP) shares gained after the software company released better-than-expected earnings results.
  • Switch Inc. (SWCH) shares jumped following the data centre company’s Q2 earnings release with revenues that far surpassed analysts’ predictions.

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for Cardlytics Inc. (CDLX), Amedisys Inc. (AMED), Avid Technologies Inc. (AVID), CommScope Holdings Co. Inc. (COMM), and Itron Inc. (ITRI).

New York Stock Exchange (NYSE)

On the New York Stock Exchange, Fiverr International (FVRR), Bath & Body Works Inc. (BBWI), Nevro Corp. (NVRO), W&T Offshore Inc. (WTI) and Now Inc. (DNOW) stocks all experienced negative movement over the past week.

  • Fiverr International (FVRR) shares crashed after the gig economy giant reported earnings. Although growth for Q2 was strong, guidance indicated a possible downturn with pandemic recovery.
  • Shares of personal care products retailer Bath & Body Works Inc. (BBWI) took a tumble after the split with Victoria’s Secret from former L Brands.
  • Nevro Corp. (NVRO) shares collapsed after the medical device maker reported worse-than-expected second-quarter results.
  • Shares of oil driller W&T Offshore Inc. (WTI) and oil equipment supplier Now Inc. (DNOW) fell after their respective Q2 earnings disappointed investors already concerned about falling oil prices and the Delta coronavirus variant.
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Highlights and Lowlights

Markets climbed to modest new highs with the majority of companies beating earnings expectations and a better-than-expected monthly jobs report. All three major US stock indices registered gains this week: the SPX500 and the DJ30 slightly beat previous record highs, climbing 1% and 0.8% respectively. The NSDQ100 was also up, registering a 1.1% gain.

Oil prices dropped around 8% for the biggest weekly decline in five months, as concerns rose that travel restrictions to fight the spread of the Delta variant could result in lower demand.

What’s in Store for the Week?

Investors can look forward to another busy week of earnings, including reports from eBay, Nio, Disney and Airbnb.

Key economic releases in the coming week, including the Consumer Price Index, Consumer Sentiment Index, Producer Price Index, and Mortgage Applications reports, will provide crucial insights into the state of the US economy and the housing market.

Written by a team of experienced financial analysts at eToro.

This content is for information and educational purposes only and should not be considered investment advice or an investment recommendation. Past performance is not an indication of future results.

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