Among the trending stocks this Wednesday is a rental-car company whose stock continues to rally to record highs, a travel company welcoming positive news on earnings as the world emerges from COVID-19, and a Software-as-a-Service (SaaS) company whose stock rallied after announcing a new product.
Avis Budget Group (NASDAQ:CAR) is trending on Wednesday, after another good day of trading during a surge that has seen the company’s stock increase by almost 70% in the past month.
After opening at $143.53 on Tuesday, the stock soared and closed the day at $153.39, representing yet another record high for the car rental company, after breaking its previous high more than ten times over the past month.
This rally comes on the back of the rental-car industry becoming one of the hottest sectors in the stock market due to investors taking a bullish view on a surge in rental-car pricing, used-car pricing and the prospect of new car shortages lasting well into 2022.
Delta Air Lines (NYSE:DEL) is in the news on Wednesday after announcing a quarterly profit and higher-than-expected revenue for Q3 2021.
In what has been a tumultuous 24 months for the travel sector, the Atlanta-based airline announced earnings per share of 30 cents, which beat analysts expectations of 17, and a profit of $1.2 billion, its first profit since the pandemic, discounting any federal assistance.
However, despite increasing travel demand as travel restrictions continue to ease across the globe, the company warned that rising fuel costs will have an impact on their bottom line in 2021. The stock, which closed on Tuesday at $43.54, is up by over 8% in the past month, and by over 12% YTD.
Investors are discussing Hubspot (NYSE:HUBS) on Wednesday, after the announcement that the SaaS company was adding payment features to its software saw its price soar to an all-time high.
The company, which specialises in inbound marketing and customer relationship management (CRM) software and has more than 121,000 active customers, has partnered with Stripe to develop the payments systems which will be built directly into the company’s platform.
The stock closed at $758.27 on Tuesday, gaining more than 11% on its opening price, and continuing its positive momentum with the price up by 95% YTD.
JPMorgan Chase (NYSE:JPM) is trending on Wednesday after announcing better-than-expected earnings which beat analysts expectations.
The banking giant’s Q3 2021 profit rose by 24%, posting a profit of almost $11.69 billion at $3.74 per share, which was well above analyst’s expectations of $3 per share The earnings beat came as good news for the company, its investors and its chairman and CEO, Jamie Dimon, who was in the news earlier this week after again voicing his disdain for Bitcoin, calling it “worthless”.
Nutriband (NASDAQ:NTRB) is in the spotlight on Wednesday, after the announcement that it was entering into an exclusive manufacturing agreement for one of their pharmaceutical products saw the stock rise by over 30%.
The company, which primarily develops transdermal pharmaceutical products, opened Tuesday’s session at $7.40 and closed at $9.70. The surge came after it was announced that Nutriband had signed an agreement with Diomics to exclusively manufacture their Diocheck technology, which is to help individuals monitor the presence of COVID-19 antibodies over an extended period of time.
