Last Week’s Top Five Market Winners
Nasdaq Stock Market (NASDAQ)
The past week included significant gains for Del Taco Restaurants Inc. (TACO), The Lovesac Company (LOVE), Trupanion Inc. (TRUP), SweetGreen (SG) and Sorrento Therapeutics Inc. (SRNE).
- Del Taco Restaurants Inc. (TACO) shares skyrocketed after the Mexican fast-food chain announced a $575 million deal to be acquired by fast-food restaurant chain Jack in the Box.
- The Lovesac Company (LOVE) shares surged in response to the furniture maker’s positive third-quarter earnings.
- Trupanion Inc. (TRUP) shares popped after the veterinary health insurer announced a partnership with pet industry leader Chewy.
- Shares of salad chain SweetGreen (SG) bounced back from their post-IPO low amid improved investor sentiment.
- Sorrento Therapeutics Inc. (SRNE) shares climbed after Scilex Holding Company, the biopharmaceutical company’s subsidiary, announced positive results from trials for its sciatica treatment, which received Fast Track status from the FDA.
NASDAQ TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Del Taco Restaurants Inc. (TACO) | 4.97 (+66.00%) | 12.50 | Consumer Goods |
| The Lovesac Company (LOVE) | 19.55 (+31.65%) | 81.31 | Consumer Goods |
| Trupanion Inc. (TRUP) | 32.62 (+29.23%) | 144.20 | Financial |
| SweetGreen (SG) | 7.12 (+28.69%) | 31.94 | Consumer Goods |
| Sorrento Therapeutics Inc. (SRNE) | 1.25 (+25.38%) | 6.20 | Consumer Goods |
New York Stock Exchange (NYSE)
Strong results were recorded on the New York Stock Exchange for Bright Health Group Inc. (BHG), Gol Linhas Aereas Inteligentes SA (GOL), Laredo Petroleum Inc. (LPI), Nabors Industries Ltd. (NBR) and New Oriental Education & Technology Group Inc. ADR (EDU).
- Bright Health Group Inc. (BHG) shares soared after the health insurance start-up announced a $750 million capital investment from Cigna Ventures, and gave strong guidance regarding expected revenue for 2022.
- Gol Linhas Aereas Inteligentes SA (GOL) shares jumped after the Brazilian airline said it expects revenue for next year to nearly double from 2021.
- Laredo Petroleum Inc. (LPI) shares climbed after positive analyst coverage of the oil and natural gas producer.
- Nabors Industries Ltd. (NBR) shares gained following Buy recommendations by analysts for the land drilling contractor.
- Shares of online tutoring company New Oriental Education & Technology Group Inc. ADR (EDU) were up as investors seemed to search for bargains among Chinese tech stocks.
NYSE TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Bright Health Group Inc. (BHG) | 0.99 (+29.46%) | 4.35 | Healthcare |
| Gol Linhas Aereas Inteligentes SA (GOL) | 1.50 (+28.04%) | 6.85 | Consumer Goods |
| Laredo Petroleum Inc. (LPI) | 14.27 (+25.75%) | 69.69 | Consumer Goods |
| Nabors Industries Ltd. (NBR) | 18.41 (+23.29%) | 97.44 | Consumer Goods |
| New Oriental Education & Technology Group Inc. ADR (EDU) | 0.43 (+22.99%) | 2.30 | Consumer Goods |
Last Week’s Top Five Market Losers
Nasdaq Stock Market (NASDAQ)
The last seven days were less than ideal for Reata Pharmaceuticals Inc. (RETA), Everbridge Inc. (EVBG), Adagio Therapeutics Inc. (ADGI), BioNTech SE (BNTX) and HealthEquity Inc. (HQY).
- Reata Pharmaceuticals Inc. (RETA) shares crashed after the FDA’s advisory committee unanimously rejected the biopharmaceutical company’s drug candidate meant to treat chronic kidney disease.
- Everbridge Inc. (EVBG) shares tanked after analysts downgraded the stock following an abrupt announcement that the software company’s CEO intended to resign.
- Shares of Adagio Therapeutics Inc. (ADGI), which popped last week on hopes that the biopharma company’s antiviral COVID-19 treatment candidate would be effective against the Omicron variant, retreated following news that Adagio does not have a timeline regarding an FDA emergency use authorization request.
- BioNTech SE (BNTX) shares tumbled as early lab results showed that a standard two-dose regimen of the vaccine maker’s COVID-19 shots would not provide effective protection against the Omicron variant.
- HealthEquity Inc. (HQY) shares fell after the health savings account provider’s third-quarter earnings results failed to meet analysts’ forecasts.
NASDAQ WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Reata Pharmaceuticals Inc. (RETA) | -49.37 (-62.74%) | 29.32 | Consumer Goods |
| Everbridge Inc. (EVBG) | -48.12 (-43.30%) | 63.00 | Technology |
| Adagio Therapeutics Inc. (ADGI) | -12.60 (-27.49%) | 33.23 | Consumer Goods |
| BioNTech SE (BNTX) | -86.38 (-25.11%) | 257.68 | Consumer Goods |
| HealthEquity Inc. (HQY) | -13.45 (-24.77%) | 40.85 | Consumer Goods |
New York Stock Exchange (NYSE)
On the New York Stock Exchange, Renren Inc. (RENN), Torrid Holdings Inc. (CURV), Phreesia Inc. (PHR), Blue Apron Holdings Inc. (APRN) and Chewy (CHWY) all experienced negative movement over the past week.
- Renren Inc. (RENN) shares crashed after the Chinese social media company’s $300 million settlement with investors, who accused Renren co-founders of self-dealing, was rejected by a New York State Supreme Court judge.
- Torrid Holdings Inc. (CURV) shares tanked after the plus-size women’s apparel brand posted disappointing third-quarter earnings.
- Phreesia Inc. (PHR) shares dropped after the health care developer missed earnings, reporting heavy losses.
- Blue Apron Holdings Inc. (APRN) shares plunged following a significant sell-off by Matthew B. Salzberg, a major shareholder of the meal kit maker.
- Chewy (CHWY) shares slipped despite solid Q3 earnings as investors seemed concerned that the online pet retailer’s pandemic growth may be slowing down.
NYSE WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Renren Inc. (RENN) | -12.83 (-50.61%) | 12.52 | Technology |
| Torrid Holdings Inc. (CURV) | -4.62 (-29.00%) | 11.31 | Consumer Goods |
| Phreesia Inc. (PHR) | -13.44 (-24.77%) | 40.83 | Technology |
| Blue Apron Holdings Inc. (APRN) | -2.00 (-17.61%) | 9.36 | Consumer Goods |
| Chewy (CHWY) | -10.93 (-17.43%) | 51.76 | Consumer Goods |
Highlights and Lowlights
After two weeks in the red, Wall Street soared again as concerns about the COVID-19 Omicron variant eased. The SPX500 gained 3.8%, its strongest week in 10 months. The DJ30 popped 4% and the NSDQ100 was up by 3.6%.
The US labour market showed renewed signs of strength as jobless claims fell to a 52-year low. But data confirmed that consumer inflation continued to climb in November, topping 5% for the sixth month in a row, reaching its highest level since 1982.
What’s in Store for the Week?
Earnings season is winding down, but there are still a few big reports to come. Adobe, FedEx and Olive Garden parent Darden Restaurants will post their earnings this week.
Investors will be watching the two-day FOMC meeting beginning Tuesday to see if improved labour market conditions and rising inflation will prompt the Fed to accelerate tapering its monthly bond-purchasing program. Key data on the housing market and retail sales for November are also expected.
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