After-Market : A warning sends NetScout down, and a hedge fund stake in Clarivate makes the company go up. Oct-16

After-Market:

After-Market

After-Market active stocks

Gainers

• Clarivate Plc (CLVT) is up 5%, and Impactive Capital LP has disclosed a 5.3% stake in the company through a 13D report.

Losers

• NetScout Systems (NTCT) is 19% lower after releasing preliminary results for the second quarter and an updated estimate for the whole year that was lower than what Wall Street expected.
• 22nd Century (NASDAQ:XXII) Group, Inc. (Nasdaq: XXII) dropped 14% and said it would be selling shares of its common stock, common stock equivalents, and options to buy shares of common stock in a “best efforts” public offering.

MARKET MOVERS 

Midday-Market movers

GAINERS

• The stock price of Lululemon (NASDAQ:LULU) went up 9.8%. The athleticwear company is set to join the S&P 500 index on Wednesday, as confirmed by S&P Dow Jones Indices last week.
• Pfizer (NYSE:PFE) stock went up 4.9%, while BioNTech (NASDAQ:BNTX) stock went down 5% and Moderna (NASDAQ:MRNA) stock went down 4.6%. This is because last week, the U.S. drug company cut its sales forecast for its COVID vaccine and treatment.
• Nvidia (NASDAQ:NVDA) stock rose 1.1% ; Bloomberg News reported that the U.S. will make it harder for China to get advanced chip technology. This caused Nvidia (NASDAQ:NVDA) stock to rise 1.1%.
• DR Horton (NYSE:DHI) stock rose 0.9%; Goldman Sachs changed its rating on DR Horton (NYSE:DHI) from “neutral” to “buy.” This caused the stock to rise 0.9%. On the other hand, KB Home (NYSE:KBH) stock fell 2.1% after Goldman changed its rating from “buy” to “neutral.”

LOSERS

• Stock in Manchester United (NYSE:MANU) dropped 8.8% after news came out that British billionaire Jim Ratcliffe only wants to buy a 25% share in the soccer club. This made people worry that Sheikh Jassim bin Hamad al Thani of Qatar might not be able to buy out the club.
• Novo Nordisk (NYSE:NVO) stock fell 1.2% When Novo Nordisk (NYSE:NVO) decided to buy a drug from KBP Biosciences for up to $1.3 billion, the stock dropped 1.2%.
• Apple (NASDAQ:AAPL) stock dropped 0.6% after Bloomberg claimed that the tech giant’s new iPhone 15 is having trouble in China, where sales are falling behind those of its predecessor, the iPhone 14.
• Rite Aid stock (NYSE:RAD) was put on hold after the drugstore chain filed for Chapter 11 bankruptcy and said it had gotten a promise for $3.45 billion in new loans from some of its lenders.

Earnings Calendar

Monday, Oct. 16  

Charles Schwab (SCHW) 

 Equity Lifestyle Properties (ELS) 

Tuesday, Oct. 17 

• Johnson & Johnson (JNJ) 
•  Bank of America (BAC)  
• Lockheed Martin (LMT) 
•  Goldman Sachs (GS) 
•  Prologis (PLD)  
• Bank of New York Mellon (BK) 
•  J.B. Hunt Transport Services (JBHT)  
• Ericsson (ERIC)  
• United Airlines (UAL)  
•  Albertsons Cos. (ACI)  

• Citigroup (NYSE:C) declined 0.8% after agreeing to sell its retail wealth management portfolio in mainland China to HSBC (NYSE:HSBC), which lost 2.3%.
• Bristol-Myers Squibb (NYSE:BMY) stock dipped 0.8% after the pharmaceutical company announced a $5.8 billion acquisition of cancer medicine Mirati Therapeutics (NASDAQ:MRTX), down 4.6%, to diversify its oncology business.
• United Airlines (NASDAQ:UAL) stock fell 5%, American Airlines (NASDAQ:AAL) stock fell 4.7%, and Delta Air Lines (NYSE:DAL) stock fell 4.5%, as several airlines canceled or reduced flights to Israel in response to the escalation of violence between the country’s forces and the Palestinian group Hamas.
• The stock of Spotify (NYSE:SPOT) slumped 2.5% after Redburn-Atlantic cut its rating on the audio streaming service to ‘neutral’ from ‘buy,’ expecting that the company’s new audiobook offer will be gross margin dilutive.

• Workhorse Group Inc. (Nasdaq: WKHS) 32% HIGHER; Workhorse Group Inc. (Nasdaq: WKHS) announced that it has achieved IRS clearance as a qualified manufacturer for the Commercial Clean Vehicle Credit, as specified in Internal Revenue Code Section 30D(d)(3). With this approval, Workhorse clients can receive up to a $40,000 credit for all Workhorse vehicle deliveries in 2023 and beyond.
• Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) 29% HIGHER; Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) reported that it has reached an agreement with the Food and Drug Administration (FDA) on the global Phase 2 pivotal study of RP-A501 for Danon Disease. Danon Disease is a deadly hereditary cardiomyopathy that kills the majority of male patients at the age of 20 and the majority of female patients at the age of 40, and for which there are no authorized curative or disease-modifying medications. In the United States and Europe, the condition affects an estimated 15,000 to 30,000 people.

After-Market: After-Market: After-Market: After-Market: After-Market: After-Market: After-Market: After-Market: After-Market: After-Market: