Last Week’s Top Five Market Winners
Nasdaq Stock Market (NASDAQ)
The past week included significant gains for Discovery Communications Inc. (DISCA), ViacomCBS Inc. (VIAC), Centennial Resource Development (CDEV), Calumet Specialty Products Partners, LP (CLMT) and Gilat Satellite Networks Ltd. (GILT).
- Discovery Communications Inc. (DISCA) shares soared after Bank of America upgraded the cable television content maker due to its impending merger with AT&T’s WarnerMedia.
- ViacomCBS Inc. (VIAC) shares surged following news that the entertainment giant was exploring the sale of its CW Network.
- Shares of oil and gas driller Centennial Resource Development (CDEV) popped after OPEC+ predicted that the Omicron coronavirus variant would not significantly impact oil demand.
- Calumet Specialty Products Partners LP (CLMT) shares climbed after several market analysts initiated coverage of the petroleum product manufacturer.
- Gilat Satellite Networks Ltd. (GILT) shares jumped after the telecom company received a large order from a major Japanese mobile network carrier.
NASDAQ TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Discovery Communications Inc. (DISCA) | 6.52 (+27.70%) | 30.06 | Services |
| ViacomCBS Inc. (VIAC) | 5.21 (+17.26%) | 35.39 | Consumer Goods |
| Centennial Resource Development (CDEV) | 0.98 (+16.39%) | 6.96 | Consumer Goods |
| Calumet Specialty Products Partners LP (CLMT) | 1.99 (+15.08%) | 15.19 | Basic Materials |
| Gilat Satellite Networks Ltd. (GILT) | 1.03 (+14.57%) | 8.10 | Services |
New York Stock Exchange (NYSE)
Strong results were recorded on the New York Stock Exchange for PBF Energy Inc. (PBF), Kosmos Energy Ltd. (KOS), Renren Inc. (RENN), Transocean Ltd. (RIG) and CVR Energy (CVI.N).
- Many oil stocks, including those of PBF Energy Inc. (PBF), Kosmos Energy Ltd. (KOS) and CVR Energy (CVI.N), made bullish moves after positive comments by global oil cartel OPEC+ caused oil prices to rise.
- Renren Inc. (RENN), whose shares recently crashed after the Chinese social media company’s $300 million pending settlement deal was rejected, jumped last week as investors turned optimistic that the judge’s decision could be overturned — resulting in the largest direct cash payment in a shareholder derivative action ever.
- Transocean Ltd. (RIG) shares were up after the offshore driller announced that new stock options were available with a February 25th expiry date.
NYSE TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| PBF Energy Inc. (PBF) | 3.33(+25.67%) | 16.30 | Basic Materials |
| Kosmos Energy Ltd. (KOS) | 0.87 (+25.14%) | 4.33 | Consumer Goods |
| Renren Inc. (RENN) | 3.61 (+24.59%) | 18.29 | Technology |
| Transocean Ltd. (RIG) | 0.55 (+19.93%) | 3.31 | Basic Materials |
| CVR Energy (CVI.N) | 3.17 (+18.89%) | 19.93 | Basic Materials |
Last Week’s Top Five Market Losers
Nasdaq Stock Market (NASDAQ)
The last seven days were less than ideal for Bakkt Holdings (BKKT), Curis Inc. (CRIS), Cenntro Electric Group Limited (NAKD), Udemy Inc. (UDMY), and CryoPort Inc. (CRYX).
- Many high-growth tech stocks took a hit as investors reacted to news that the US Federal Reserve is considering decreasing the size of its balance sheet. Shares that dropped included those of digital wallet company Bakkt Holdings (BKKT), biotech company Curis Inc. (CRIS), online education marketplace Udemy Inc. (UDMY) and biotech logistics provider CryoPort Inc. (CRYX).
- Cenntro Electric Group Limited (NAKD) shares dropped as investors’ sentiment cooled to the previously hot meme.
NASDAQ WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Bakkt Holdings (BKKT) | -2.60 (-29.38%) | 6.24 | Services |
| Curis Inc. (CRIS) | -1.27 (-26.68%) | 3.49 | Consumer Goods |
| Cenntro Electric Group Limited (NAKD) | -1.38 (-25.75%) | 3.98 | Consumer Goods |
| Udemy Inc. (UDMY) | -4.84 (-24.77%) | 14.70 | Technology |
| CryoPort Inc. (CRYX) | -13.97 (-23.61%) | 45.20 | Industrial Goods |
New York Stock Exchange (NYSE)
On the New York Stock Exchange, HubSpot Inc. (HUBS), Humana Inc. (HUM), Globant SA (GLOB), Carvana Co. (CVNA) and Stevanato Group (STVN) all experienced negative movement over the past week.
- Minutes released from the US Federal Reserve’s December meeting indicated that an interest rate hike was imminent, sparking a sell-off of growth stocks such as those of HubSpot Inc. (HUBS), Globant SA (GLOB), Carvana Co. (CVNA) and Stevanato Group (STVN).
- Humana Inc. (HUM) shares plunged as analysts expressed concern over the health insurer’s drastic reduction of its Medicare Advantage enrollment estimates for 2022.
NYSE WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| HubSpot Inc. (HUBS) | -149.46 (-22.67%) | 509.69 | Technology |
| Humana Inc. (HUM) | -100.69 (-21.71%) | 363.17 | Healthcare |
| Globant SA (GLOB) | -63.90 (-20.34%) | 250.19 | Technology |
| Carvana Co. (CVNA) | -47.08 (-20.31%) | 184.71 | Consumer Goods |
| Stevanato Group (STVN) | -4.48 (-19.96%) | 17.97 | Consumer Goods |
Highlights and Lowlights
As 2022 got underway, the Dow and Nasdaq notched fresh records — but investors’ hopes for an immediate January effect were dashed as all three US indices closed the week in losses. The Federal Reserve’s December meeting minutes, released on Wednesday, implied that interest rates could be raised sooner than expected, sparking a market-wide sell-off, particularly for tech and growth stocks.
The SPX500 dropped -1.8% and the DJ30 slipped a modest -0.2%. The NSDQ100, however, was hit hardest with a -4.5% free fall, its sharpest weekly decline in months.
What’s in Store for the Week?
This week, a new earnings season kicks off with reports from the “big banks,” including JPMorgan Chase, Wells Fargo, BlackRock and Citigroup.
Investors will also be watching for key data on inflation from the Bureau of Labor Statistics’ Consumer Price Index (CPI) and the Producer Price Index (PPI), as well as on business optimism and consumer sentiment data from the NFIB’s Small Business Optimism Index and the IBD/TIPP Economic Optimism Index reports. The University of Michigan’s preliminary Consumer Sentiment Index reading for January is expected to dip lower, remaining near ten-year lows.
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