New highs for Wall Street

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week showed significant gains for ORBCOMM Inc. (ORBC), Cara Therapeutics (CARA), IZEA Worldwide Inc. (IZEA), Fintech Acquisition Corp. V (FTCV) and Caesars Entertainment Inc. (CZR).

  • ORBCOMM Inc. (ORBC) shares skyrocketed after the satellite telecommunications company announced that it was going private and was being acquired by GI Partners in an all-cash billion-dollar deal.
  • Cara Therapeutics (CARA) shares jumped after S&P Global division S&P Dow Jones Indices announced that the biotechfirm will be added to its S&P SmallCap 600 index, replacing MTS Systems. 
  • IZEA Worldwide Inc. (IZEA) shares soared after the digital marketing company issued an update indicating strong first-quarter results.
  • Fintech Acquisition Corp. V (FTCV) shares gained as the fintech company with which eToro is set to go public, received positive sentiment from analysts in the midst of a successful wave of SPAC IPOs.
  • Caesars Entertainment Inc. (CZR) shares were up after Morgan Stanley upgraded the casino mogul’s ratings and price targets.

NASDAQ TOP-PERFORMING STOCKS

STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
ORBCOMM Inc. (ORBC)3.71 (+47.78%)11.49Services
Cara Therapeutics (CARA)7.44(+34.21%)29.19Healthcare
IZEA Worldwide Inc. (IZEA)1.26 (+32.73%)5.11Services
Fintech Acquisition Corp. V (FTCV)3.44 (+31.16%)14.48Services
Caesars Entertainment Inc. (CZR)16.31 (20.41%)96.24Consumer goods

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for Prog Holdings Inc. (PRG), Shift4 Payments Inc. (FOUR), Snapchat Inc. (SNAP), Revolve Group Inc. (RVLV) and Square, Inc. (SQ).

  • Prog Holdings Inc. (PRG) shares got a boost from an across-the-board consensus recommendation of Buy from analysts. 
  • Shift4 Payments Inc. (FOUR) shares hit new all-time highs after the digital payments platform reported a recent surge in transaction volume, including end-to-end payment volume of $3.3 billion last month, up 40% from February and 82% year-over-year.
  • Snapchat Inc. (SNAP) shares popped after reporting great metrics such as increased revenue and daily active users, getting investors excited about the social media app after three years of so-so performance.
  • Revolve Group Inc. (RVLV) shares climbed after the e-commerce apparel company got a price target hike by analysts in anticipation of the economic reopening and consumer demand for dressier apparel.  
  • Square, Inc. (SQ) shares jumped when Barclays optimistically raised its price target on the point-of-sale credit card processor following international coverage by French investment bank Oddo BHF.

NYSE TOP-PERFORMING STOCKS

STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
Prog Holdings Inc. (PRG)17.92 (+68.90%)43.93Consumer Goods
Shift4 Payments Inc. (FOUR)14.33 (+16.46%)101.40Consumer Goods
Snapchat Inc. (SNAP)8.72 (+16.02%)63.16Technology
Revolve Group Inc. (RVLV)6.56 (+14.47%)51.88Services
Square, Inc. (SQ)32.14 (+14.00%)261.65Services

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for Sunworks Inc. (SUNW), ACADIA Pharmaceuticals Inc. (ACAD), Gevo Inc. (GEVO), Tellurian Inc. (TELL) and HTG Molecular Diagnostics Inc. (HTGM).

  • Sunworks Inc. (SUNW) shares ended a volatile week in the red after the solar energy provider announced its purchase of privately held residential solar systems company Solcius for $51.8 million.
  • ACADIA Pharmaceuticals Inc. (ACAD) shares plunged as a national securities litigation firm announced its investigation of the biotech company for potential violations of federal securities laws.
  • Gevo Inc. (GEVO) shares lagged after the renewable energy company issued a negative business update in a dip for the clean energy sector this week. 
  • Tellurian Inc. (TELL) shares slid due to analysts downgrading the Texan oil and gas company’s rating.
  • HTG Molecular Diagnostics Inc. (HTGM) shares dropped after the life sciences company failed to meet revenue expectations for the first quarter of 2021.

NASDAQ WORST-PERFORMING STOCKS

STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
Sunworks Inc. (SUNW)-3.68 (-21.65%)13.32Consumer Goods
ACADIA Pharmaceuticals Inc. (ACAD)-5.20 (-20.32%)20.39Consumer Goods
Gevo Inc. (GEVO)-1.77 (-17.75%) 8.20Consumer Goods
Tellurian Inc. (TELL)-0.43 (-17.27%)2.06Consumer Goods
HTG Molecular Diagnostics Inc. (HTGM)-0.89 (-15.21%)4.96Consumer Goods

New York Stock Exchange (NYSE) 

On the New York Stock Exchange, Asensus Surgical Inc. (ASXC), GameStop Corp. New (GME), GSX Techedu Inc. (GSX), Southwestern Energy Co. (SWN) and Sunnova Energy international Inc. (NOVA) stocks all experienced negative movement over the past week.

NYSE WORST-PERFORMING STOCKS

STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
Asensus Surgical Inc. (ASXC)-0.89 (-25.43%)2.61Consumer Goods
GameStop Corp. New (GME)-6.83 (-17.28%)158.36Services
GSX Techedu Inc. (GSX)-5.02 (-15.60%)27.16Technology
Southwestern Energy Co. (SWN)-0.73 (-15.05%)4.12Basic Materials
Sunnova Energy international Inc. (NOVA)-5.60 (-13.64%)35.46Consumer Goods

Highlights and Lowlights

All three major US indexes gained this week, with the DJ30 (+2%) and the SPX500 (+2.8%) in the green for the third week in a row and pushing record levels higher. NSDQ100 exceeded both this week with a 3.1% gain. Large-cap growth stocks outperformed their value counterparts by a wide margin for the second week in a row. Similar to the previous week, tech stocks set record highs while investors seemed to spurn those more sensitive to cyclical economic movements.

Meanwhile economic indicators were mixed for the week. The services sector posted record growth, but more initial claims for unemployment benefits than expected were filed for the second week in a row.

What’s in Store for the Week?

Earnings season continues with PepsiCoBank of AmericaCitigroup and Delta Airlines reporting in the week ahead.

The US Bureau of Labor Statistics will release the Consumer Price Index on Tuesday, and export and import prices on Wednesday. The retail sales report by the US Census Bureau will be released on Thursday, and housing starts report on Friday.

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