Search

Conflict continues, as does volatility: Weekly Stock Market Update

Updated: Mar 17

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week included significant gains for Renewable Energy Group Inc. (REGI), PDC Energy Inc. (PDCE), Reata Pharmaceuticals Inc. (RETA), TOP Ships Inc. (TOPS) and Mercury Systems Inc. (MRCY).





  • Renewable Energy Group Inc. (REGI) shares surged following news that the biodiesel producer had signed a $3 billion deal to be acquired by oil giant Chevron.

  • PDC Energy Inc. (PDCE) shares soared after the natural gas developer beat expectations for its fourth-quarter earnings and announced plans to purchase Great Western Petroleum LLC for $1.3 billion.

  • Reata Pharmaceuticals Inc. (RETA) shares popped after analysts increased their FY2022 earnings estimates for the biopharma company.

  • TOP Ships Inc. (TOPS) shares jumped after the marine shipping firm took delivery of a second supertanker, expected to contribute over $10 million in revenue in 2022 alone.

  • Mercury Systems Inc. (MRCY) shares were up in an eventful week for the aerospace company including a $165M contract from the US Air Force, a $7.4 million order from a leading defense contractor, and talks of an offer for acquisition by activist investor Elliott Investment Management.


NASDAQ TOP-PERFORMING STOCKS

Stock

Weekly Change

Current Trading Price

Sector

17.23 (+39.33%)

61.04

Consumer Goods

13.72 (+24.11%)

70.63

Consumer Goods

6.03 (+23.08%)

32.16

Consumer Goods

0.21 (+22.80%)

1.13

Consumer Goods

12.92 (+22.71%)

69.81

Industrial Goods


New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for Occidental Petroleum Corp. (OXY), Arch Resources Inc. (ARCH), Harmony Gold Mining Co Ltd (HMY), Transocean Ltd. (RIG) and Kroger Co. (KR).


  • On the heels of an earnings beat last week, Occidental Petroleum Corp. (OXY) shares continued to gain as the oil and gas production company got a boost from higher oil prices.

  • Coal industry stocks, including Arch Resources Inc. (ARCH), were on the rise along with increasing global demand and surging natural gas prices.

  • Harmony Gold Mining Co Ltd (HMY) shares were up following earnings, although the precious metal miner’s gain likely had more to do with investors eager for safe-haven assets.

  • Transocean Ltd. (RIG) shares popped after the offshore drilling contractor beat expectations in its latest quarterly earnings results.

  • Kroger Co. (KR) shares soared after the grocery leader released positive fourth-quarter earnings.


NYSE TOP-PERFORMING STOCK

Stock

Weekly Change

Current Trading Price

Sector

17.41 (+44.94%)

56.15

Basic Materials

35.84 (+30.75%)

152.39

Consumer Goods

1.12 (+28.21%)

5.09

Basic Materials

0.91 (+27.33%)

4.24

Basic Materials

12.48 (+26.86%)

9.85

Consumer Goods


Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for Vroom Inc. (VRM), Grab Holdings Ltd. (GRAB), Ambarella Inc. (AMBA), Grid Dynamics Holdings Inc. (GDYN) and Velodyne Lidar Inc. (VLDR).

  • Vroom Inc. (VRM) shares crashed to all-time lows after the auto retailer released Q4 earnings.

  • Grab Holdings Ltd. (GRAB) shares tanked after the Southeast Asian ridesharing and food delivery company released disappointing fourth-quarter earnings.

  • Despite beating earnings estimates, shares of Ambarella Inc. (AMBA) plummeted as investors reacted to the computer vision technology company’s disappointing guidance for the current quarter.

  • Grid Dynamics Holdings Inc. (GDYN) shares dropped after the information technology services company reported a loss of $3.6 million in its fourth quarter.

  • Velodyne Lidar Inc. (VLDR) shares fell after the smart 3D scanning solutions provider missed Q4 earnings estimates.


NASDAQ WORST-PERFORMING STOCKS

Stock

Weekly Change

Current Trading Price

Sector

-3.28 (-52.90%)

2.92

Consumer Goods

-2.44 (-42.07%)

3.36

Services

-51.84 (-37.20%)

87.53

Industrial Goods

-5.04 (-34.24%)

9.68

Technology

-1.25 (-33.07%)

2.53

Consumer Goods


New York Stock Exchange (NYSE) On the New York Stock Exchange, a.k.a. Brands Holding (AKA.US), Bright Health Group Inc. (BHG), Carvana Co. (CVNA), Farfetch Limited (FTCH) and Sea Limited (SE).

  • a.k.a. Brands Holding (AKA.US) shares tanked after the direct-to-consumer fashion platform reported losses in 2021 despite a strong increase in sales.

  • Bright Health Group Inc. (BHG) shares plummeted after reporting disappointing earnings.

  • Shares of online used car marketplace Carvana Co. (CVNA) hit a 52-week low during trading after VP Stephen R. Palmer sold 1,000 shares.

  • Farfetch Limited (FTCH) shares were down following an analyst downgrade of the online luxury goods marketplace.

  • Sea Limited (SE) shares plunged following an analyst downgrade and price target cut for the digital payment services provider.


NYSE WORST-PERFORMING STOCKS

Stock

Weekly Change

Current Trading Price

Sector

-3.53 (-45.37%)

4.25

Services

-1.28 (-38.10%)

2.08

Healthcare

-48.73 (-31.94%)

103.84

Consumer Goods

-6.18 (-29.54%)

14.74

Technology

-40.02 (-29.11%)

97.44

Technology


Highlights and Lowlights

Fears surrounding the Russia-Ukraine conflict continued to influence markets and cause volatility for US stocks. The SPX500 and DJ30 each slid 1.2%, while the NSDQ100 dropped 2.8%.


Commodity market prices surged, setting a new record for the biggest weekly gain in 50 years. Oil prices skyrocketed, busting through the $100 a barrel barrier to surpass 10-year highs.

What’s in Store for the Week?

As the war in Ukraine continues to impact markets, earnings season continues, with releases from Oatly, Rivian, Oracle and WeWork. Check out eToro’s Earnings Reports Calendar for all of the details and to stay up to date.


Investors will be watching the Bureau of Labor Statistics’ latest Consumer Price Index (CPI) closely to see whether consumer inflation continued to rise in February. The Labor Department will release its job openings and labor turnover survey (JOLTS), which measures job vacancies, and the University of Michigan will release the preliminary reading of its Consumer Sentiment Index for March.

16 views0 comments

Related Posts

See All