- Zoom Video (ZM.US) stock jumped 7% on upbeat guidance
- Novavax (NVAX.US) reported weaker-than-expected Q4 results
- Treasury yield stabilized but continue to remain elevated
US indices launched today's session flat as markets took a breath after yesterday's sharp gains which saw the S&P 500 booking its best day since June. Meanwhile, the 10-year Treasury yield, a point of focus lately for equity investors, is flat at 1.45%. Investors on Tuesday will focus on comments made by both Securities and Exchange Commission Chair nominee Gary Gensler and Federal Reserve Governor Lael Brainard.
US100 – buyers are struggling to break above the major resistance zone around 13,270 pts level which coincides with 50 SMA ( green line), 200 SMA ( red line) and downward trend line. This area is the major obstacle blocking way towards all-time highs at around 13,905 pts. Failure to break high could see the index pull back towards near-term support at 13,000 pts. Source: xStation5
Zoom Video (ZM.US) stock jumped more than 7% in premarket after the company posted upbeat quarterly results. Video messaging platform earned $1.22 per share, well above analysts' expectations of 79 cents a share. Revenue also beat Wall Street estimates. Company also provided optimistic current-quarter guidance.
Zoom Video (ZM.US) stock launched today’s session sharply higher and price is approaching downward trendline. Should a break above the trendline occur, upward move may accelerate towards major resistance at $500.00. On the other hand, if sellers will manage to regain control, nearest support to watch lies at $400.00 and coincides with 50 SMA ( green line) and 200 SMA (red line). Source: xStation5
Novavax (NVAX.US) stock fell more than 5% after the company reported disappointing quarterly figures. The drugmaker lost $2.70 per share while analysts expected smaller loss of $1.49 per share. Company’s revenue also failed to beat market estimates. Novavax said its Covid-19 vaccine could be cleared for use in the U.S. as soon as May, depending on whether regulators are willing to authorize it based on the results of a British trial.
Target (TGT.US) shares rose more than 1% after the company posted better than expected quarterly data. The retailer earned $2.67 per share in the previous quarter, while market expected earnings of $2.54 per share. Revenue also beat Wall Street forecasts. Digital sales more than doubled while comparable-store sales rose 20.5%, well above expectations of 16.8%.
Kohl’s (KSS.US) stock gained 1.6% in premarket after the company posted quarterly profit of $2.22 per share, including $1.15 a share in incremental tax benefits, while Wall Street expected earnings of $1.01. The retailer’s revenue also surprised on the upside. Company is planning to reinstate its dividend and share buyback program this year. It also forecast sales growth for 2021.
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