Delta concerns dampen markets

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week included significant gains for Monday.com (MNDY), TaskUs Inc. (TASK), Niu Technologies (NIU), Viridian Therapeutics Inc. (VRDN) and CureVac NV (CVAC).

  • Monday.com (MNDY) shares skyrocketed after the work management software provider announced strong Q2 results for its first quarter as a public company.
  • TaskUs Inc. (TASK) shares surged for the second week in a row to hit an all-time high since the digital outsourcing tech company’s IPO in June.
  • Niu Technologies (NIU) shares jumped after the Chinese electric scooter manufacturer released strong Q2 earnings, including promising guidance for the coming quarter.
  • Viridian Therapeutics Inc. (VRDN) shares rallied to recover losses which followed the biotechnology company’s earnings release last week. 
  • CureVac NV (CVAC) shares were up after the German biotechnology company released upbeat preclinical data for its COVID-19 vaccine candidate trial on primates.

NASDAQ TOP-PERFORMING STOCKS

STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
Monday.com (MNDY)84.38 (+31.50%)352.28Technology
TaskUs Inc. (TASK)9.41 (+23.52%)49.42Services
Niu Technologies (NIU) 3.66 (+17.21%)24.93Consumer Goods
Viridian Therapeutics Inc. (VRDN)1.80 (+15.33%)13.58Consumer Goods
CureVac NV (CVAC)8.02 (+13.64%)66.82Healthcare

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for Macy’s Inc. (M), Bright Health Group Inc. (BHG), BJ’s Wholesale Club Holdings Inc. (BJ), Inspire Medical Systems (INSP), and Zhihu Inc. (ZH).

  • Macy’s Inc. (M) shares soared after the well-known retailer announced it was bringing the Toys ‘R’ Us brand back to its stores and website. 
  • Bright Health Group Inc. (BHG) shares rallied following the Insurance company’s announced plans for expansion. 
  • BJ’s Wholesale Club Holdings Inc. (BJ) shares popped after the warehouse retailer reported its second-quarter earnings, which beat expectations. 
  • Inspire Medical Systems (INSP) shares gained following an analyst upgrade of the medical technology company stock.
  • Shares of Zhihu Inc. (ZH), often referred to as the “Quora of China,” jumped after the company released its latest quarterly results.

NYSE TOP-PERFORMING STOCKS

STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
Macy’s Inc. (M)3.47 (+18.34%)22.39Consumer Goods
Bright Health Group Inc. (BHG)1.50 (+17.86%)9.90Healthcare
BJ’s Wholesale Club Holdings Inc. (BJ) 6.61 (+13.14%)56.90Consumer Goods
Inspire Medical Systems (INSP)24 (+12.72%)212.73Consumer Goods
Zhihu Inc. (ZH)0.95 (+10.22%)10.25Services

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for Qualigen Therapeutics Inc. (QLGN), Toughbuilt Industries Inc. (TBLT), Fate Therapeutics Inc. (FATE), Cleanspark Inc. (CLSK) and SuRo Capital Corp. (SSSS).

  • Qualigen Therapeutics Inc. (QLGN) shares crashed after the healthcare company released Q2 earnings, including plans to deprioritise its COVID-19 therapy candidate, sending shares to a yearly low.
  • Toughbuilt Industries Inc. (TBLT) shares plummeted after the home improvement and construction products maker released disappointing second-quarter financial results.
  • Fate Therapeutics Inc. (FATE) shares tanked after the biotechnology company’s interim data from ongoing clinical trials failed to impress investors.
  • Shares of cryptocurrency mining and energy technology company Cleanspark Inc. (CLSK) plunged after reporting heavy losses this quarter.
  • SuRo Capital Corp. (SSSS) shares dropped over 20% this week, erasing the venture capital company’s recent gains.

NASDAQ WORST-PERFORMING STOCKS

STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
Qualigen Therapeutics Inc. (QLGN)-0.60 (-33.71%) 1.18Consumer Goods
Toughbuilt Industries Inc. (TBLT)-0.192 (-28.11%)0.491Industrial Goods
Fate Therapeutics Inc. (FATE)-19.70 (-22.72%) 67.01Consumer Goods
Cleanspark Inc. (CLSK)-3.13 (-22.49%)10.79Consumer Goods
SuRo Capital Corp. (SSSS)-3.36 (-20.97%)31.49Financial

New York Stock Exchange (NYSE) 

On the New York Stock Exchange, HEXO Corp (HEXO), Tencent Music Entertainment Group (TME), RLX Technology Inc. (RLX), F45 Training Holdings Inc. (FXLV), and Vipshop Holdings Ltd. (VIPS) all experienced negative movement over the past week.

NYSE WORST-PERFORMING STOCKS

STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
HEXO Corp (HEXO)-1.22 (-34.46%)2.32Consumer Goods
Tencent Music Entertainment Group (TME)-2.34 (-23.88%)7.46Technology 
RLX Technology Inc. (RLX)-1.11 (-22.11%)3.91Consumer Goods
F45 Training Holdings Inc. (FXLV)-3.82 (-22.11%)13.46Services
Vipshop Holdings Ltd. (VIPS)-3.04 (-18.7%)13.22Services

Highlights and Lowlights

Despite gains made as the week closed, the US stock market posted weekly declines. Weighed down by COVID-19 concerns, as well as losses for economically sensitive industries such as banking and energy, the SPX500  was down -0.5%, and the DJ30 lost -1%. The NSDQ100 posted a -0.7% decline for the week.

Earnings season continued to provide a bright spot in market news. By now, more than 90% of SPX500 companies have released earnings for Q2 2021, with almost 87% reporting better-than-expected revenues. 

What’s in Store for the Week?

We will see earnings reports from top retailer Best Buy, cloud software company Salesforce, interactive exercise bike manufacturer Peloton, and hardware company Hewlett Packard.

Investors will be closely following key economic releases in the coming week, including July’s Personal Income and Spending, which helps gauge the strength of the American consumer sector, and the PCE Price Index, a primary inflation index which helps guide Fed decisions. New insights into the US housing market, which has been cooling off recently, are also expected with the release of July’s Existing Home Sales and New Home Sales. 

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