Tuesday’s Headlines: Virgin Galactic Finally Has Lift-off

Tuesday’s Headlines: Virgin Galactic Finally Has Lift-off

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Diageo (DEO) +6.3%

Ctrip (TCOM) +6.1%

Retail Opportunity Investments Corp (ROIC) +6.0%

Axos Financial (AX) +5.1%

Chuy's (CHUY) +5.0%

Moving Down ⬇️

Teladoc (TDOC) -1.8%

Zoom Communications (ZM) -1.8%

Calavo Growers (CVGW) -1.6%

Vail Resorts (MTN) -1.2%

Trupanion (TRUP) -0.9%

1. Space tourism company Virgin Galactic (SPCE) jumped 25% in its second-best day ever after getting Wall Street’s full endorsement on Monday. The stock jump came after Bank of America (BAC) and Susquehanna began coverage of Virgin Galactic, joining 6 other Wall Street outlets which have given it a buy rating. “No company in our coverage universe has anywhere near comparable growth potential,” Bank of America analyst Ron Epstein said. Virgin Galactic shares have fallen 45% from their February all-time highs but have more than doubled since its reverse merger last October. Read the full story here.

2. Shares in Roku (ROKU) jumped more than 2% on Monday after the company unveiled an updated product lineup ahead of the holiday season. The brand-agnostic streaming device added two new products: a redesigned version of its high-end Roku Ultra which, for the first time, adds Dolby Vision support as well as Bluetooth, along with updates to its OS which will include Apple AirPlay 2 and HomeKit support. Roku has had a choppy time during the coronavirus pandemic, dropping to a March low price of $63.84 per share, but has since recovered 192% and is flirting with all-time highs. Read the full Roku story here.

3. Settle down and grab yourself a pint of Guinness to celebrate Diageo’s (DEO) strong start to fiscal 2021, at least according to the company’s press release which sent shares soaring 6%. In a statement coinciding with the alcohol makers AGM on Monday, CEO Ivan Menezez highlighted an “ahead of expectations” performance from alcohol sales in the U.S. and Europe as bars and restaurants begin to reopen. “As demand recovers,” Menezes said, “we are using our consumer insights and marketing effectiveness tools to accelerate smart investment behind innovation and marketing as well as behind new opportunities in the at-home occasion and in the e-commerce channel.” Read the full statement here.

JamieJamie

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