Tuesday’s Headlines: Wake Me Up When September Ends
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Roku Inc. (ROKU) +17.7%
PagerDuty (PD) +8.0%
Coupa Software (COUP) +6.9%
Zoom Communications (ZM) +6.8%
Chegg (CHGG) +6.2%
Moving Down ⬇️
Nordstrom (JWN) -8.6%
Under Armour (UAA) -7.2%
Wynn Resorts (WYNN) -7.0%
1. When Green Day sang about waking them up when September ends, I think they were referring to just how bad the market can be in this godforsaken month. Yesterday, the Dow Jones (DIA) dropped 1.8% while the S&P 500 fell 1.2%, to give the market its first consecutive four-day loss since February — and we all know what happened next… These declines bring the Dow and S&P 500’s total losses for the month to 4.5% and 6% respectively, while the tech-heavy Nasdaq (QQQ) has tumbled a whopping 8.5%. Seriously, just wake me up in October so I’ll stop frantically checking my portfolio for signs of green. Read the full story here.
2. Meanwhile, Roku (ROKU) investors may be pinching themselves to see if they are already dreaming after the company’s stock soared 17.7% on Monday night. The brand-agnostic media platform hit a 52-week high following the launch of NBCUniversal’s Peacock on its platform yesterday following months of negotiations between Roku and NBC-parent Comcast (CMCSA). Peacock remains unavailable on Roku rival Amazon Fire TV (AMZN) while Roku is still in talks to add AT&T’s (T) HBOMax to its platform as well, so there’s plenty to look forward to. Get the complete report here.
3. Moving away from the world of reality and into gaming, Microsoft (MSFT) announced a major acquisition of Bethesda Studios. The $7.5 billion deal is the biggest gaming acquisition in Microsoft’s history and gives the tech giant access to popular franchises such as Fallout, The Elder Scrolls and Doom. “Gaming is the most expansive category in the entertainment industry, as people everywhere turn to gaming to connect, socialize and play with their friends,” Microsoft CEO Satya Nadella said. Read Microsoft’s official press release here.