Flat week for Wall Street

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week showed significant gains for Vaxart Inc. (VXRT), Globalstar (GSAT), 1 800 FLOWERS COM (FLWS), Ocugen Inc. (OCGN) and Proofpoint Inc. (PFPT).

  • Vaxart Inc. (VXRT) shares skyrocketed after the biotech company released a study indicating that American adults would prefer oral tablet vaccines — such as Vaxart’s oral COVID-19 vaccine candidate, now in development — to injections.
  • Globalstar (GSAT) shares soared after the mobile satellite services provider presented a financial update on its past growth and future plans. 
  • 1 800 FLOWERS COM (FLWS) shares surged following the release of the online florist and gift retailer’s strong third-quarter results.
  • Analyst and investor enthusiasm has led to a recent trading frenzy for Ocugen Inc. (OCGN), based on the biotech company’s deal with Bharat Biotech to market its COVID-19 vaccine in the US.
  • Proofpoint Inc. (PFPT) shares jumped after the cybersecurity and compliance company announced a multi-billion dollar cash deal to be acquired by private equity firm Thoma Bravo. 

NASDAQ TOP-PERFORMING STOCKS

STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
Vaxart Inc. (VXRT)5.22 (+93.88%)10.78Consumer goods
Globalstar (GSAT)0.35 (+37.98%)1.27Technology
1 800 FLOWERS COM (FLWS)8.00 (+33.34%)31.98Services
Ocugen Inc. (OCGN)3.04 (+31.57%)12.67Consumer goods
Proofpoint Inc. (PFPT)40.33 (30.60%)172.11Services

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for Prog Holdings Inc. (PRG), HEXO Corp. (HEXO), GSX TEchedu Inc. (GSX), Deutsche-Bank (DB) and ZIM Shipping Services Ltd. (ZIM).

  • Shares of rent-to-own company Prog Holdings Inc. (PRG) surged, mainly due to optimistic expectations by investors for accelerated recovery of the consumer loan sector. 
  • HEXO Corp. (HEXO) shares jumped after the Canadian cannabis company’s second-quarter results showed a year-over-year (YOY) revenue gain of 94% and success in achieving positive Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA).
  • GSX TEchedu Inc. (GSX) shares soared after Goldman Sachs raised its outlook for the China-based distance learning company.
  • Deutsche-Bank (DB) shares popped after the German bank posted its best quarterly earnings in seven years.
  • ZIM Shipping Services Ltd. (ZIM) shares were higher after the container liner shipping company announced a collaboration with Israeli startup Sodyo to produce innovative scanning solutions.

NYSE TOP-PERFORMING STOCKS

STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
Prog Holdings Inc. (PRG)7.89 (+18.33%)50.94Consumer Goods
HEXO Corp. (HEXO)1.04 (+18.31%)6.72Consumer Goods
GSX TEchedu Inc. (GSX)4.88 (+18.03%)31.95Technology
Deutsche-Bank (DB)2.12 (+17.85%)22.23Services
ZIM Shipping Services Ltd. (ZIM)5.01 (+15.44%)32.44Industrial Goods

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for Adverum Biotechnologies Inc. (ADVM), Cara Therapeutics (CARA), Agora Inc. (API), Enphase Energy Inc. (ENPH) and Cirrus Logic Inc. (CRUS).

  • Adverum Biotechnologies Inc. (ADVM) and Cara Therapeutics (CARA) shares crashed after each of the biotech companies reported negative news regarding their respective treatments’ phase 2 clinical trials.
  • Agora Inc. (API) shares tumbled this week despite a proposed Buy rating from eight different brokerage firms.
  • Enphase Energy Inc. (ENPH) shares dropped after the solar power provider reported its first-quarter 2021 earnings which, although mostly positive, left investors focused on supply problems affecting the business going forward.
  • Cirrus Logic Inc. (CRUS) shares slid after the chip maker’s fourth-quarter earnings report fell short of expectations.

NASDAQ WORST-PERFORMING STOCKS

STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
Adverum Biotechnologies Inc. (ADVM)-5.60 (-58.95%) 3.90Consumer Goods
Cara Therapeutics (CARA)-13.39 (-50.84%)12.95Healthcare
Agora Inc. (API)-11.19 (-18.71%) 48.61Technology
Enphase Energy Inc. (ENPH)-27.72 (-16.60%)139.25Industrial Goods
Cirrus Logic Inc. (CRUS)-12.57 (-13.03%)74.41Technology

New York Stock Exchange (NYSE) 

On the New York Stock Exchange, R.R.Donnelley & Sons Co. (RRD), NeoPhotonics Corp. (NPTN), American Well Corp. (AMWL), Twitter (TWTR) and Resolute Forest Products Inc. (RFP) stocks all experienced negative movement over the past week.

NYSE WORST-PERFORMING STOCKS

STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
R.R.Donnelley & Sons Co. (RRD)-1.72 (-28.43%)4.33Services
NeoPhotonics Corp. (NPTN)-2.55 (-21.41%)9.36Services
American Well Corp. (AMWL)-3.34 (-17.83%)15.39Services
Twitter (TWTR)-11.80 (-17.61%)55.22Technology
Resolute Forest Products Inc. (RFP)-2.22 (-14.10%)13.52Consumer Goods

Highlights and Lowlights

For the second week in a row, major US indexes showed little movement. The DJ30 and NSDQ100 finished out the week slightly negative (-0.5% and -0.4%, respectively) and the SPX500 was flat (0.0%). This was once again despite positive economic news. Thus far, 60% of SPX500 companies have reported first-quarter earnings, 86% of which had results that exceeded analysts’ expectations. The US economy is nearly back to its pre-pandemic state, with the GDP seeing robust growth for the third consecutive quarter.

What’s in Store for the Week?

Earnings season continues with PfizerBeyond MeatGeneral Motors and PayPal reporting in the week ahead.

A new monthly labour market update due for release on Friday will show investors whether the labour market in April maintained the previous month’s strong momentum.

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