Last Week’s Top Five Market Winners
Nasdaq Stock Market (NASDAQ)
The past week included significant gains for Exela Technologies Inc. (XELA), Groupon Inc. (GRPN), SmileDirectClub Inc. (SDC), Urban One Inc. (UONE) and Bed Bath & Beyond Inc. (BBBY).
- Exela Technologies Inc. (XELA) shares soared after the business process automation company announced a generous buyback offer for up to 100 million of its shares.
- Shares of digital coupon service Groupon Inc. (GRPN) surged following positive news about electronic payment company SumUp, in which Groupon is invested.
- SmileDirectClub Inc. (SDC) shares popped after the oral healthcare company announced new strategies for cutting costs and improving profitability.
- Urban One Inc. (UONE) shares jumped after Richmond, Virginia’s City Council decided to put the media conglomerate’s proposed resort casino up for a revote, after rejecting the original proposal in November.
- Shares of home goods retailer Bed Bath & Beyond Inc. (BBBY) plunged along with most of the market after the Fed’s meeting, but bounced back into gains by week’s end.
NASDAQ TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Exela Technologies Inc. (XELA) | 0.2315 (+58.18%) | 0.6294 | Technology |
| Groupon Inc. (GRPN) | 5.70 (+26.62%) | 27.11 | Services |
| SmileDirectClub Inc. (SDC) | 0.46 (+23.59%) | 2.41 | Consumer Goods |
| Urban One Inc. (UONE) | 0.98 (+23.39%) | 5.17 | Services |
| Bed Bath & Beyond Inc. (BBBY) | 2.57 (+19.83%) | 15.53 | Services |
New York Stock Exchange (NYSE)
Strong results were recorded on the New York Stock Exchange for Bally’s Corporation (BALY), Kohl’s Corp. (KSS), Stride Inc. (LRN), Corning Inc. (GLW) and Danaos Corp. (DAC).
- Bally’s Corporation (BALY) shares soared following news that investment firm Standard General, already a shareholder in the casino company, had made an offer to buy Bally’s remaining stock.
- Kohl’s Corp. (KSS) shares surged following news that the department store chain had received two acquisition offers from private equity firms.
- Stride Inc. (LRN) shares jumped after the online education services company released fiscal second-quarter 2022 earnings.
- Corning Inc. (GLW) shares popped after the glass and ceramics maker impressed investors with fourth-quarter earnings.
- Danaos Corp. (DAC) shares were up after positive analyst coverage of the container ship company.
NYSE TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Bally’s Corporation (BALY) | 8.89 (+32.79%) | 36.00 | Consumer Goods |
| Kohl’s Corp. (KSS) | 13.32 (+28.44%) | 60.16 | Services |
| Stride Inc. (LRN) | 7.58 (+28.22%) | 34.44 | Consumer Goods |
| Corning Inc. (GLW) | 7.06 (+20.14%) | 42.12 | Technology |
| Danaos Corp. (DAC) | 1.26 (+17.08%) | 91.46 | Industrial Goods |
Last Week’s Top Five Market Losers
Nasdaq Stock Market (NASDAQ)
The last seven days were less than ideal for Kingsoft Cloud Holdings Limited (KC), OPKO Health Inc. (OPK), Arrival (ARVL), Cenntro Electric Group Limited (CENN) and Lucid Group Inc. (LCID).
- Shares of Chinese cloud computing company Kingsoft Cloud Holdings Limited (KC) and electric vehicle (EV) start-ups Arrival (ARVL), Cenntro Electric Group Limited (CENN) and Lucid Group Inc. (LCID) all fell amid the ongoing tech sell-off.
- OPKO Health Inc. (OPK) shares plunged after the biotech company and partner, pharma giant Pfizer, announced that the US Food and Drug Administration (FDA) had refused approval of their human growth hormone.
NASDAQ WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Kingsoft Cloud Holdings Limited (KC) | -3.31 (-30.99%) | 7.37 | Technology |
| OPKO Health Inc. (OPK) | -1.29 (-30.42%) | 2.95 | Consumer Goods |
| Arrival (ARVL) | -1.27 (-28.75%) | 3.16 | Consumer Goods |
| Cenntro Electric Group Limited (CENN) | -0.62 (-28.18%) | 1.58 | Consumer Goods |
| Lucid Group Inc. (LCID) | -10.60 (-28.08%) | 27.15 | Services |
New York Stock Exchange (NYSE)
On the New York Stock Exchange, Nevro Corp. (NVRO), Nio Inc. (NIO), Gaotu Techedu Inc. (GOTU), DiDi Global Inc. (DIDI) and XPeng Inc. (XPEV) all experienced negative movement over the past week.
- Shares of medical device maker Nevro Corp. (NVRO) plummeted after competitor Medtronic received FDA approval for its painful diabetic neuropathy (PDN) treatment.
- Shares of electric-vehicle (EV) makers Nio Inc. (NIO) and XPeng Inc. (XPEV) fell as investors continued to sell off EV industry stocks.
- Gaotu Techedu Inc. (GOTU) shares dropped as investor sentiment seemed to cool off from the Chinese online tutoring company.
- DiDi Global Inc. (DIDI) shares tumbled on fears that the Chinese ride-hailing company could soon be delisted from the New York Stock Exchange.
NYSE WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Nevro Corp. (NVRO) | -24.12 (-28.09%) | 61.74 | Consumer Goods |
| Nio Inc. (NIO) | -6.45 (-23.58%) | 20.90 | Consumer Goods |
| Gaotu Techedu Inc. (GOTU) | -0.53 (-23.56%) | 1.72 | Technology |
| DiDi Global Inc. (DIDI) | -1.14 (-23.46%) | 3.72 | Financial |
| XPeng Inc. (XPEV) | -9.66 (-23.10%) | 57.13 | Consumer Goods |
Highlights and Lowlights
It was a roller-coaster week on Wall Street as markets vacillated between earnings releases and the Fed’s determination to raise interest rates. The tech stocks sell-off mostly continued, with investors eager to exit high-risk positions — but a rally in Friday’s final hour of trading saved us from yet another week in the red.
The SPX500 gained 0.8% and the DJ30 was up by 1.3%. Strong earnings from Apple gave technology stocks a much-needed lift, helping the NSDQ100 to break even at 0.0%.
What’s in Store for the Week?
Get ready for an exciting week of earnings with releases from tech giants Amazon, Google, Advanced Micro Devices, PayPal, and Meta Platforms.
Investors will also be watching the OPEC+ meeting on Wednesday, when members are expected to stick to their plan to raise oil production in March. ADP will release the January National Employment Report on Wednesday followed by the US Labor Department’s nonfarm payrolls on Friday. Although unemployment rates are expected to remain steady, the data may be affected by the number of hourly workers who were subject to Omicron quarantines during the last month.
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