Tuesday’s Headlines: 6 Straight Days of Market Gains

Tuesday’s Headlines: 6 Straight Days of Market Gains

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

TDOC +8.0%

NLS +7.2%

ZM +7.1%

SHOP +5.8%

Z +5.3%

Moving Down ⬇️

PINS -6.0%

SSTI -6.1%

CHUY -6.2%

TRIP -6.8%

UAA -9.7%

1. The Nasdaq Composite climbed for a sixth straight session on Monday as shares of major technology companies added to its comeback rally. Although the tech-heavy index only rose 0.7%, it still marked 6 straight days of gains, marking its longest winning streak since an 11-day run back in December. For the year, the Nasdaq was up about 2.4% and traded just 6% below its record high set in February. Read the complete story here.

2. Shares in Under Armour fell 9.7% on Monday after reporting a sales decline of 23% during its first quarter to $598 million. The company also reported a loss of $0.34 per share in the first quarter on revenue of $930.2 million. The athletic apparel company said it plans to cut about $325 million in operating costs in 2020 to help it weather the crisis, including laying off some retail employees temporarily. Get the full report here.

3. Ticket and bookings firm Eventbrite fell as much as 11% after the bell on Monday following an earnings miss. The company reported a Q1 loss of $1.71 per share on top of revenue of $49.1 million, compared to the $71.9 million expected. The impact of COVID-19 has been felt at Eventbrite, with event attendances severely reduced, while the company was also forced to hand out $19.1 million in refunds for canceled events during the quarter. Read the full story here.

JamieJamie

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