FB, TWTR, SNAP, SPOT, LLY: Trending Stocks Today 3 Feb

By Duncan Ferris


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Markets may be jolted out of their positive start to February as Facebook's Meta Platforms (NASDAQ: FB), hit the headlines for all the wrong reasons.

Trending Stocks

US markets continued their positive start to the month on Wednesday, but a poorly received earnings update from Meta (NASDAQ: FB) has sent that powerhouse and its peers spiralling lower in premarket trading.

Elsewhere, oil, gold and Bitcoin (BTC) are all lower ahead of the market open.

NASDAQ S&P500 Bitcoin
14,417.55 (+0.50%) 4,589.38 (+0.94%) 36,735.52 (-4.75%)

Trending stocks included:

  • Meta (Facebook) (NASDAQ: FB) shares are down by more than 20% in premarket trading after quarterly earnings showed EPS missed expectations and future revenues looking on course to fall short. Read more analysis of this story here!

  • Twitter (NYSE: TWTR), Snap (NYSE: SNAP), Bumble (NASDAQ: BMBL) and Pinterest (NYSE: PINS) are all in the premarket doldrums as well, following the social media giant lower.

  • Spotify (NYSE: SPOT) has forecasted a slowdown in subscriber growth, while CEO Daniel Ek played down the impact of the controversy surrounding the platform’s support of podcaster Joe Rogan.

  • Honeywell International (NASDAQ: HON) has reported that its most recent quarterly sales missed analyst expectations amid supply issues.

  • Nokia (NYSE: NOK) has confirmed it will restart its quarterly dividend after the company reported a strong fourth quarter and beefed up its annual projections.

  • T-Mobile US (NASDAQ: TMUS) shares are up by more than 8% in premarket trading after the company’s quarterly earnings fell but still beat expectations.

  • Eli Lilly (NYSE: LLY) reported that its COVID-19 treatment, which is named bamlanivimab, drove the company to trounce revenue estimates for its most recent quarter.

  • Among pharmaceuticals, Merck (NYSE: MRK) also reported sales above expectations due to a COVID-19 treatment. The company’s molnupiravir treatment is expected to help sales to grow by 20% in 2022.

  • Hershey Co (NYSE: HSY) reported a sweet set of fourth quarter results, with the chocolate maker’s decision to increase prices helping profits to beat forecasts.

  • Amazon (NASDAQ: AMZN), Activision Blizzard (ATVI) and News Corp (NASDAQ: NWSA) are among the companies lined up to release earnings after markets close on Thursday.

Major premarket movers included:

  • Humana Inc (NYSE: HUM) +7%

  • Ralph Lauren Corp (NYSE: RL) +5%

  • Centene Corp (NYSE: CNC) +4%

  • BlackRock (NYSE: BLK) -6%

  • Lincoln National Corp (NYSE: LNC) -4%

  • Gap Inc (NYSE: GPS) -4%


In this article:

Author: Duncan Ferris

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Duncan Ferris does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the above article.

Duncan Ferris has not been paid to produce this piece by the company or companies mentioned above.

Digitonic Ltd, the owner of ValueTheMarkets.com, does not hold a position or positions in the stock(s) and/or financial instrument(s) mentioned in the above article.

Digitonic Ltd, the owner of ValueTheMarkets.com, has not been paid for the production of this piece by the company or companies mentioned above.

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