• Dow Jones (DE30) testing major resistance level
• US Weekly Jobless Claims below 1M
• Virtusa (VRTU.US) stock jumped over 24%
• US Weekly Jobless Claims below 1M
• Virtusa (VRTU.US) stock jumped over 24%
US indices launched today's session higher, extending yesterday gains. Tech stocks continued to rebound following a 3-day plunge on valuation concerns. Unemployment Claims report showed initial claims at 884K, above analysts’ estimates of 846K. However for the first time since the outbreak of the pandemic number of claims stay below 1 million for 2 straight weeks. Continuing claims rose to 13.38 million from 13.29 million, above market expectations of 12.925 million.
Dow Jones (US30) is testing the major resistance level at 28090 pts, which is additionally strengthened by upward trendline. Should buyers manage to uphold momentum, then resistance at 29177 pts could be at risk. On the other hand, in case sellers regain control, then we could see a move lower towards 27140 pts support Source: xStation5Virtusa (VRTU.US) – The IT services company stock surged over 24% in extended trading after agreed to be bought by investment firm Baring Private Equity Asia for $2 billion in cash, or $51.35 per share. Virtusa shares finished yesterday's session at $40.50.
Virtusa (VRTU.US) stock surged in pre-market and is currently testing the key resistance at $50.50. If the current sentiment prevails, the upward move could be extended to the $56.95 resistance level. On the other hand, if sellers regain control, the support at $45.78 may be at risk. Source: xStation5
AstraZeneca (AZN.US) – announced that if it could resume clinical trials soon, then before the end of the year it should be known whether its COVID-19 vaccine is effective. At the moment trials are paused while an independent safety committee investigates an illness suffered by a trial participant.
RH (RH.US) stock jumped more than 15% in extended trading after the company posted upbeat quarterly results. RH reported adjusted earnings of $4.91 per share well above market expectations of $3.41 per share. CEO Gary Friedman said that’s operating margin was improving more quickly than it expected and the company was generating “luxury” brand margins ahead of schedule.
Amazon.com (AMZN.US) retired General Keith Alexander will join company's board of directors. Gen. Alexander is the former commander of U.S. Cyber Command as well as NSA director. He is also the founder and co-chief executive of IronNet Cybersecurity. Meanwhile Bloomberg reported that India’s Reliance Industries offered to sell a $20 billion stake in its retail unit to Amazon.
Zscaler (ZS.US) stock dropped 2% after the company reported quarterly results. The cloud-security company reported quarterly loss of $45.9 million, or 38 cents a share, on sales of $125.9 million, up from $86.1 million a year ago. After adjusting for stock-based compensation and other factors, Zscaler reported earnings of 5 cents a share, down from adjusted earnings of 7 cents a share a year ago.
GameStop (GME.US) stock plunged 10% after the company posted a disappointing second quarter results . Retailer lost $1.40 per share, well above analysts' estimates of $1.13 per share loss. The price of company's shares nearly doubled since the beginning of August but GameStop market cap shrink to about $500 million at the end of yesterday’s session.
Kansas City Southern (KSU.US) stock dropped about 2% after the Wall Street Journal reported that the railroad company had rejected a takeover offer from private equity firms. The offer was reportedly for $208 per share. The share price at the end of Wednesday’s session was roughly $185.
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