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By eToro

Wall Street back on track: Weekly Stock Market Update

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week included significant gains for Red Robin Gourmet Burgers Inc. (RRGB), Udemy Inc. (UDMY), Groupon Inc. (GRPN), Dollar Tree, Inc. (DLTR) and Patterson-UTI Energy Inc. (PTEN).

  • Red Robin Gourmet Burgers Inc. (RRGB) shares soared after the casual dining restaurant chain topped earnings expectations for the first quarter.
  • Udemy Inc. (UDMY) shares gained after analysts forecasted that the online course provider will announce $149.5 million in sales for the current quarter.
  • Groupon Inc. (GRPN) shares popped after majority owner Jan Barta bought $5.3M worth of the online commerce platform’s stock.
  • Dollar Tree, Inc. (DLTR) shares jumped after the discount retail chain reported first-quarter earnings that beat analysts’ expectations.
  • Patterson-UTI Energy Inc. (PTEN) shares rallied to four-year highs after an upgrade by J.P. Morgan for the onshore contract drilling services company.

 

NASDAQ TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Red Robin Gourmet Burgers Inc. (RRGB) 2.84 (+35.81%) 10.77 Consumer Goods
Udemy Inc. (UDMY) 3.80 (+30.60%) 16.22 Technology
Groupon Inc. (GRPN) 3.51 (+29.08%) 15.58 Services
Dollar Tree, Inc. (DLTR) 37.12 (+29.03%) 165.00 Consumer Goods
Patterson-UTI Energy Inc. (PTEN) 4.01 (+25.38%) 19.81 Consumer Goods

 

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for GameStop Corp. (GME), AMC Entertainment Holdings Inc. (AMC), Generac Holdings Inc. (GNRC), JPMorgan Chase & Co. (JPM) and BlackRock, Inc. (BLK).

 

NYSE TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
GameStop Corp. (GME) 41.55 (+43.44%) 137.21 Services
AMC Entertainment Holdings Inc. (AMC) 2.40 (+19.95%) 14.43 Consumer Goods
Generac Holdings Inc. (GNRC) 35.33 (+16.00%) 256.17 Industrial Goods
JPMorgan Chase & Co. (JPM) 13.93 (+11.87%) 131.27 Financial
BlackRock, Inc. (BLK) 66.09 (+11.01%) 666.53 Financial

 

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for SpringWorks Therapeutics Inc. (SWTX), Aurora Cannabis Inc. (ACB), Mirati Therapeutics Inc. (MRTX), MissFresh Ltd. (MF) and Toughbuilt Industries Inc. (TBLT).

  • SpringWorks Therapeutics Inc. (SWTX) shares lost more than half their value, hitting a record low after the biotech company shared data from clinical trials of its tumour treatment, resulting in price cuts by analysts.
  • Aurora Cannabis Inc. (ACB) shares plunged following news of a new round of financing which investors interpreted as a desperate move by the medical marijuana producer.
  • Mirati Therapeutics Inc. (MRTX) shares plummeted after the clinical-stage biotechnology company released data on its experimental cancer treatment.
  • MissFresh Ltd. (MF) shares tumbled ahead of the Chinese grocery company’s upcoming earnings release.
  • Toughbuilt Industries Inc. (TBLT) shares slid after the construction tools leader reported disappointing quarterly earnings.

NASDAQ WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
SpringWorks Therapeutics Inc. (SWTX) -18.83 (-50.63%) 18.36 Consumer Goods
Aurora Cannabis Inc. (ACB) -1.24 (-42.47%) 1.68 Healthcare
Mirati Therapeutics Inc. (MRTX) -23.54 (-37.16%) 39.81 Consumer Goods
MissFresh Ltd. (MF) -0.0726 (-31.62%) 0.157 Services
Toughbuilt Industries Inc. (TBLT)  -1.82 (-26.69%) 5.00 Industrial Goods

  

New York Stock Exchange (NYSE) 

On the New York Stock Exchange, Snapchat Inc. (SNAP), Avaya Holdings Corp. (AVYA), Abercrombie & Fitch Co. (ANF), Nordic American Tankers Ltd. (NAT) and Pinterest, Inc. (PINS) all experienced negative movement over the past week.

  • Snapchat Inc. (SNAP) shares suffered their steepest single-day decline ever as investors reacted to a warning from the social media platform that it would not  be meeting its guidance targets this quarter. A tech stock sell-off ensued, which saw shares of cloud communications company Avaya Holdings Corp. (AVYA) and fellow social media platform Pinterest, Inc. (PINS) drop as well.
  • Abercrombie & Fitch Co. (ANF) shares plunged after the apparel retailer reported disappointing earnings, including major quarterly losses and a reduced full-year sales forecast.
  • Nordic American Tankers Ltd. (NAT) shares sank after the oil tanker gave an operations update ahead of its upcoming earnings release.

NYSE WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Snapchat Inc. (SNAP) -7.67 (-33.06%) 15.54 Technology
Avaya Holdings Corp. (AVYA) -1.07 (-22.29%) 3.73 Technology
Abercrombie & Fitch Co. (ANF) -5.42 (-19.38%) 22.55 Services
Nordic American Tankers Ltd. (NAT) -0.37 (-13.86%) 2.30 Industrial Goods
Pinterest, Inc. (PINS) -2.46 (-10.74%) 20.45 Technology

 

Highlights and Lowlights

Wall Street breathed a collective sigh of relief as strong retail earnings and a slowing inflation report had markets finally snap back into positive gains after an extended losing streak. The NSDQ100 led the rebound, surging 6.9% higher. The DJ30 and SPX500 were both up significantly as well, at 6.3% and 6.6% respectively.

What’s in Store for the Week?

Earnings season continues, with reports from Salesforce, Hewlett Packard, GameStop and Chewy. Check out eToro’s Earnings Reports Calendar for all of the details and to stay up to date.

Markets will reopen on Tuesday, following the US Memorial Day holiday. Key economic updates this week include data on housing prices, factory orders, auto sales and the May nonfarm payrolls jobs report.