GOOGL, PYPL, AMD, FB, SBUX, EXC, PINS: Trending Stocks Today 2 Feb

By Kirsteen Mackay


In this article

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After a two-day bounce in equity markets, will positive sentiment continue?

Trending Stocks Today

Several factors appeared to contribute to the two day bounce we’ve witnessed this week. Many stocks were considered oversold and ripe for ‘buy the dip’. The institutional buyers were rebalancing their month-end flows and concerns of Fed rate hikes in the coming months appeared to be temporarily forgotten.

Also, the reopening of corporate buyback windows allows insiders to buy back shares. For instance, Dave Girouard CEO of Upstart (NASDAQ: UPST) bought back 226k company shares at the end of January after selling over 705k in recent months.

The S&P 500 and Nasdaq futures extended overnight gains as Alphabet (NASDAQ: GOOGL) and Advanced Micro Devices (NASDAQ: AMD) reported positive earnings results.

However, caution remains as the bounce may be short lived. Along with a hawkish Fed, earnings revisions are expected to be weak as supply chain challenges and rising prices hit margins. 

Oil up. Gold up. Bitcoin up. 

14,346.00  (+0.75%) 4,546.54 (+0.69%) 38,340.21  (-0.14%)

Here are some trending stocks today: 

  • Alphabet (NASDAQ: GOOGL) earnings beat expectations. The company announced a surprise 20-for-1 stock split, making it a more affordable option for retail investors. Earnings rose to $30.69 a share (up from $22.30 per share Y/Y). Revenue of $75bn beat analyst expectations by $3.5bn. Shares are up 9% pre-market.

  • Advanced Micro Devices (NASDAQ: AMD) delivered a stronger-than-expected revenue forecast as chip demand from cloud customers rose. AMD shares are up 11% in pre-market trading.

  • Meta Platforms (formerly Facebook) (NASDAQ: FB) is due to report earnings.

  • PayPal (NASDAQ: PYPL) is down nearly 20% pre-market, after disappointing Q1 earnings guidance and spending growth slows.

  • Xilinx (NASDAQ: XLNX) is up 11% pre-market.

  • Nuclear power company Exelon Corp (NASDAQ: EXC) is down 28% pre-market on completion of company separation of Constellation Energy Corp. 

  • Ford (NYSE: F) plans to raise its EV spending by up to $20bn.

  • Starbucks (NASDAQ: SBUX) earnings hit by rising inflation costs.

  • SPDR S&P 500 Trust ETF (NYSEARCA: SPY), the world's largest ETF sees the worst monthly outflows in its nearly 30-year history.

  • Several senior executives have left their roles at Pinterest (NASDAQ: PINS) in recent weeks. The latest is Jon Kaplan, Head of Global Sales. The company is dealing with a declining US userbase and slowing ad revenue growth. PINS stock is down 5%.

  • Apple (NASDAQ: AAPL) faces court setback in its smartphone patent fight with Qualcomm (NASDAQ: QCOM). Plus, its iPad delivery times remain high as the company continues to prioritize iPhones. 

Also up in early market trading are:

  • IDEXX Laboratories, Inc. (NASDAQ: IDEXX) +6%

  • NVIDIA Corporation (NASDAQ: NVDA) +3%

  • Qualcomm Inc (NASDAQ: QCOM) +2%

  • Micron Technology, Inc. (NASDAQ: MU) +3%

  • Fortinet, Inc. (NASDAQ: FTNT) +2%

  • Marvell Technology, Inc. (NASDAQ: MRVL) +2%

If you enjoyed reading this overview of what to expect in the financial market today, why not read our in-depth reports on ESG investing and Healthcare investing. Or check out our 12 investing themes for 2022.

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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.

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

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

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

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