Market Movers: Stocks React to Stimulus Progress and Quarterly Earnings

Strategic Insights -

Investors cheered news of progress toward a fresh stimulus package on Thursday, sending stock futures higher as the market opened. Several stocks made notable moves, driven by a combination of positive earnings reports, mergers and acquisitions, and analyst upgrades. Here is a summary of the top movers in premarket trading on Thursday.

Key Takeaways:

  • Moderna (MRNA) shares rose 1.12% as the FDA prepared to grant emergency use approval for its coronavirus vaccine, despite questions over the sustainability of the stock's 600% year-to-date surge.
  • Roku (ROKU) shares surged 6.44% after analysts at Benchmark Co. raised the company's price target to $410 from $300, citing a significant upside surprise in 4Q.
  • AT&T (T) shares fell 0.1% after analysts at Morgan Stanley downgraded the stock to equal weight from overweight with a price target of $34.
  • FedEx (FDX) shares rose 0.71% ahead of its earnings report, as the company navigated the East Coast's first major winter storm of the year and a high volume of pre-Christmas packages.
  • General Mills (GIS) reported fiscal second-quarter earnings, with net sales increasing 7% to $4.7 billion and earnings per share rising 17% to $1.11.

Statistics:

  • Moderna's year-to-date surge was 600%.
  • Roku's price target was raised to $410 from $300.
  • AT&T's price target was reduced to $34.
  • FedEx navigated a high volume of pre-Christmas packages, including vaccines and critical deliveries.
  • General Mills' net sales increased 7% to $4.7 billion, and earnings per share rose 17% to $1.11.

Sources:

  • https://www.thestreet.com/markets/5-things-you-must-know-before-the-market-opens-thursday-121720?puc=_htmltmk_pla1&cm_ven=EMAIL_htmltmk&tstmem=179263089&utm_source=newsletter&utm_medium=email&utm_campaign=TMK&utm_term=Bitcoin%2C+Moderna%2C+FedEx%2C+Google+-+5+Things+You+Must+Know+Thursday
  • https://www.thestreet.com/investing/moderna-up-600-this-year-limps-into-fda-vaccine-decision
  • https://www.thestreet.com/investing/roku-price-target-raised-wall-street-high-hbo-max
  • https://www.thestreet.com/investing/roku-price-target-raised-wall-street-high-hbo-max
  • https://www.thestreet.com/investing/fedex-ups-snowstorm-vaccine-christmas-deliveries
  • https://www.thestreet.com/investing/general-mills-q2-earnings