Investors continue to weigh optimism against concerns

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week showed significant gains for Sprouts Farmers Market Inc. (SFM), ASML Holding NV (ASML), Ubiquiti Inc. (UI), Calumet Specialty Products Partners LP (CLMT) and Applied Materials Inc. (AMAT).

NASDAQ TOP-PERFORMING STOCKS

STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
Sprouts Farmers Market Inc. (SFM)3.93 (+17.35%)27.96Consumer goods
ASML Holding NV (ASML)78.25 (+14.29%)625.67Technology
Ubiquiti Inc. (UI)46.49 (+13.54%)389.88Technology
Calumet Specialty Products Partners LP (CLMT)0.66 (+12.41%)5.98Basic Materials
Applied Materials Inc. (AMAT)13.78 (12.00%)128.64Technology

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for Hertz Global (HTZGQ), Owens-Illinois (OI) , MagnaChip Semiconductor Corp. (MX), KBR Inc. (KBR), and Kansas City Southern (KSU).

  • Hertz Global (HTZGQ) stock surged as car rental prices are up, compounded by investors looking to take advantage of Hertz’s inexpensive share price.
  • Owens-Illinois (OI) shares jumped after the glass container manufacturer announced it would be investing $75 million to support stronger demand for sustainable glass packaging.
  • MagnaChip Semiconductor Corp. (MX) share price rose after the South Korean semiconductor company reported that it had entered into a $1.4 billion deal with South Dearborn Limited.
  • KBR Inc. (KBR) rose this week after the construction and engineering company was awarded two large contracts and announced a goal to double adjusted earnings per share by 2025.
  • Kansas City Southern (KSU) stock rose after the railroad company was acquired by Canadian Pacific in a cash and stock transaction worth $29 billion.  

NYSE TOP-PERFORMING STOCKS

STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
Hertz Global (HTZGQ)0.2497 (+21.54%)1.40Services
Owens-Illinois (OI)2.41 (+19.95%)14.49Consumer Goods
MagnaChip Semiconductor Corp. (MX)3.54 (+15.75%)26.01Technology
KBR Inc. (KBR)4.69 (+14.48%)37.09Services
Kansas City Southern (KSU)29.46 (+13.14%)253.62Industrial Goods

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for Discovery Communications Inc. (DISCA), Canaan Inc. (CAN), Co-Diagnostics Inc. (CODX), Evofem Biosciences Inc. (EVFM) and EHang Holdings Ltd. (EH).

  • Discovery Communications Inc. (DISCA) shares crashed as investors seemed to be bailing out of the media company’s stock, with trading so volatile at one point that it was temporarily halted. 
  • Canaan Inc. (CAN) shares plunged as analysts downgraded the Chinese computer hardware and crypto mining equipment manufacturer’s stock.
  • Co-Diagnostics Inc. (CODX) shares plummeted after the molecular diagnostics company missed bottom-line Q4 earnings expectations.  
  • Evofem Biosciences Inc. (EVFM) stock tanked toward a record low after the biopharmaceutical company announced its relatively large public stock offering at deeply discounted pricing.
  • EHang Holdings Ltd. (EH) shares dropped following news that a class action lawsuit had been filed against the Chinese aerospace company by investors for misleading statements made by senior executives.

NASDAQ WORST-PERFORMING STOCKS

STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
Discovery Communications Inc. (DISCA)-35.37 (-45.77%) 41.90Services
Canaan Inc. (CAN)-10.22 (-37.00%)17.40Technology
Co-Diagnostics Inc. (CODX)-4.35 (-30.96%) 9.70Consumer Goods
Evofem Biosciences Inc. (EVFM)-0.81 (-30.22%)1.87Consumer Goods
EHang Holdings Ltd. (EH)-11.50 (-24.83%)34.81Industrial goods

New York Stock Exchange (NYSE) 

On the New York Stock Exchange, GSX Techedu Inc. (GSX), ViacomCBS (VIAC), Tencent Music Entertainment (TME), Vipshop Holdings (VIPS), and Rite Aid Corporation (RAD) stocks all experienced negative movement over the past week.

  • Shares of Chinese online-education company GSX Techedu Inc. (GSX) dropped amid a barrage of block trades in some giant Chinese and US companies.
  • ViacomCBS (VIAC) shares plunged after analysts downgraded the media company’s stock, questioning its ability to successfully compete with the big players in the streaming industry.
  • Chinese music streaming service Tencent Music Entertainment (TME) shares dropped after news that the US Securities Exchange Commission (SEC) will allow regulators to review financial information of overseas companies and protect customer data.
  • Vipshop Holdings (VIPS) was among US media stocks and Chinese Internet ADRs under heavy selling pressure due to the forced liquidation of positions held by Archegos Capital Management. 
  • Rite Aid Corporation (RAD) stock was down after the drugstore chain announced that it expected net losses in fiscal year 2021 of between $90–100 million. 

NYSE WORST-PERFORMING STOCKS

STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
GSX Techedu Inc (GSX)-47.59 (-54.95%) 39.01Technology
ViacomCBS Inc. (VIAC)-49.12 (-50.46%)48.23Consumer Goods
Tencent Music Entertainment (TME)-10.32 (-33.93%) 20.10Technology
Vipshop Holdings Ltd. (VIPS)-14.26 (-31.38%)31.19Services
Rite Aid Corp (RAD)-6.48 (-25.58%)18.85Services

Highlights and Lowlights

The major indexes were mixed, with stocks starting off on a strong note but then sacrificing gains as investors continue weighing optimism about reopening against inflation and interest rate fears. Concerns over the Suez Canal blockage causing shipping delays also captured attention, as did the latest stimulus checks issued which are likely to boost consumer spending.

The NSDQ100 dipped -0.6%, while the DJ30 and SPX500 gained 1.4% and 1.6% respectively.

What’s in Store for the Week?

Earnings season continues in the week ahead, with PVH Corp. and LululemonChewy and Blackberry announcing their earnings after the close on Tuesday, and Walgreens Boots Alliance and Micron to announce their earnings after the close on Wednesday as well as  CarMax before the bell on Thursday.

This week, the Conference Board will publish Consumer Confidence Index numbers on Tuesday, President Joe Biden is set to unveil his infrastructure plan on Wednesday and the US Bureau of Labour Statistics will release March unemployment numbers on Friday.

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