Monday’s Headlines: That Was A Bad Week

Monday’s Headlines: That Was A Bad Week

Here were the biggest movers in the MyWallSt shortlist on Friday:

Moving Up ⬆️

Ericsson (ERIC) +7.2%

Nautilus (NLS) +5.0%

Huazhu Hotels Group (HTHT) +3.7%

Datadog (DDOG) +2.8%

Atlassian (TEAM) +1.8%

Moving Down ⬇️

Tripadvisor (TRIP) -6.9%

ShotSpotter (SSTI) -6.5%

Tesla Motors (TSLA) -5.0%

Planet Fitness (PLNT) -4.7%

Eventbrite (EB) -4.6%

1. The turbulence of last week — in which the market suffered its worst weekly performance since October — doesn’t appear to be going away. In a choppy overnight session, the Dow Jones (DIA), S&P 500 (VOO), and Nasdaq Composite (QQQ) are all in the green at time of writing, having slipped more than 3% each last week. Aside from the likely continuation of frenzied buying among heavily-shorted stocks, investors are growing increasingly uncertain about the passing of President Biden’s $1.9 trillion stimulus package, which is stuck in gridlock on Capitol Hill. It might be best to strap in for this one folks, February could be a bumpy ride. Read the full story here.

2. Shares in Ericsson (ERIC) soared more than 7% on Friday following impressive fourth-quarter earnings results. The network equipment provider topped estimates on revenue of 69.6 billion Swedish kronur ($8.3 billion), and earnings per share of 2.26 kronur ($0.27) — versus the 1.82 kronur ($0.22) expected. “Our R&D investments have continued to drive both technology leadership and cost-efficiency, which have led to increased market share and improved financial performance,” CEO Borje Ekholm said in a statement. “We are today a leader in 5G with 127 commercial contracts and 79 operating networks around the world.” Read the official earnings release here

3. An unlikely victim of the ongoing Reddit v.s. short-sellers conflict appears to be the very social media sites where they plaster their views and opinions. Twitter (TWTR) fell 2% on Friday — though it ended the week with a 5% gain — and Facebook (FB) lost 2.5%, down 6% total for the week despite an impressive earnings beat. Analysts are growing more bullish on Twitter though as stock market discussions continue to drive up its usage. Many believe that Twitter is reimagining itself as a premium source of all sorts of financial and news information, while Facebook is subject to far more scrutiny among antitrust and privacy regulators. With Twitter reporting Q4 earnings next week, investors should be aware that January’s potentially increased daily usage will not be included in the Q4 report. Read more about the recent volatility of social media stocks here.

Get this week’s full earnings calendar here.