Shares of Shopify (SHOP) were hit hard in trading on Wednesday after a report was released by Citron Research accused the company of promoting “get rich quick” schemes on its e-commerce website. The report also questions SHOP’s claim of having over 500,000 vendors on its cite. SHOP shares closed down -11.70% to settle at 103.30. Keep an eye on the stock for further developments.
Shares of Delta Airlines (DAL) rose sharply in trading on Tuesday after the company forecast that its third-quarter unit revenue would be better than expected with the impact of Hurricane Irma factored in. Previously, the aftermath of the hurricane was expected to make a bigger dent in the airline’s profits, but the company now believes the impact will be softer and that overall it expects passenger revenue to rise about 2% for the third quarter. DAL shares finished up +6.59% to settle at 51.25. Other airline stocks had similar outcomes. Keep an eye on this stock and other airline stocks as the week progresses.
Shares of hotel and resort stocks were volatile in trading on Monday after the weekend shooting massacre in Las Vegas. The deadliest shooting spree in the history of the country resulted in most stocks in this sector opening lower, with most failing to recover thereafter. Shares of WYNN, MGM, and LVS all opened lower, with LVS bouncing back to recoup most of its weekend losses. Expect more volatility to come for these stocks this week.
Shares of Zogenix (ZGNX) rose sharply in trading on Friday due to positive results for its Phase 3 trial of its ZX008 drug. The drug was found to effectively cut seizure rates in patients with severe epilepsy. ZGNX shares were up over +170% on this news, and are likely to see further potential upside going forward. Keep an eye on the stock for further developments.
Shares of Freeport-McMoRan (FCX) were volatile in trading on Thursday due to bullish expectations for the stock by industry analysts. Morgan Stanley raised the price target for stocks in the mining sector on September 25th, and FCX received an estimated earnings of $0.23 per share yesterday. These resulted in the stock sharply rising off of its lows on Thursday. FCX shares closed up +3% to settle at 14.42 for the session. Keep an eye on FCX for further developments.
Shares of Procter & Gamble Corporation (PG) slid lower in trading on Wednesday as the company is in the middle of a proxy fight election. Investor Nelson Peltz is campaigning to control the company, and its investor feel that they are under attack. PG shares sunk as a result of the conflict, closing down -1.92% to settle at 90.87. Keep an eye on PG as this story unfolds.
Shares of E.L.F. Beauty (ELF) rose strongly in trading on Tuesday after an analyst from Jefferies noted that the brand’s products to be sold in an contract with Walgreens has substantial potential to boost ELF’s product sales, noting that there are 4 times as many Walgreens as Target stores in the United States, and that sales at Target account for over 25% of ELF’s product sales. ELF shares were given a $30 price target by the analyst as a result. ELF finished the session up +6.85% to settle at 21.05. Keep an eye on the stock for further developments.
Facebook shares had a rough day on Monday after it was announced that a planned stock split and issuance of new shares was cancelled. The cancelled split was not the likely a major factor in the decline, but it seems to have been a major part of the decline along with increased tensions with North Korea. Shares of FB closed down -4.50% at 162.87.
Shares of Davita Inc. (DVA) dropped sharply in trading on Friday after a report by Southern Investigative Reporting Foundation (SIRF) questioned how the medical care services provider received about half its operating profits from a charity. It also accused the company of other wrongdoing. DVA shares closed the session down -6.15% to settle at 57.49. Keep an eye on the stock for further developments.
Shares of Intercept Pharmaceuticals (ICPT) fell tremendously in trading on Thursday after the company received a warning from the FDA regarding its Ocaliva drug. The FDA warned of liver damage and death associated with the company’s product. ICPT closed down -24.89% to settle at 73.70. Keep an eye on the stock for further developments.