As stocks drifted higher today, some names caught a rip on positive news (or momentum.) 💚 A few names were upgraded to “buy,” others reported earnings, and many more recovered ground from controversy. Let’s take a look:
NXP Semiconductor
The semiconductor company reported earnings today, beating analyst estimates. The company also authorized a $2 billion share repurchase program.
The good word send $NXP rising 8.4% today. It faltered slightly in afterhours trading.
Boeing
America’s leading aerospace company caught a huge updraft after minting a monster deal with Qatar Airways. A week ago, Airbus said it canceled Qatar Airways’ order for 50 A321 jets after months of turbulence. Boeing capitalized on the feud, swooping in to sell Qatar 25 737 Max 10 jets with options to acquire 25 more. The carrier also signed on the dotted line to become Boeing’s first customer for the freighter (cargo) version of the 777X. The company will acquire 34 777X jets, with options for 16 more. ✈️ ✈️
All in all, the sticker price is more than $34 billion. However, that’s before discounts or rebates from making such a beefy order. $BA added 5% today.
Spotify
Spotify recovered to the tune of double-digits after the company acknowledged the #SpotifyExodus, committing to add a content warning to podcasts and content relating to the COVID-19 pandemic. The company’s controversial flagship podcaster, Joe Rogan, also issued an apology to people who were offended by his comments. Spotify was upgraded by analysts (what a coincidence.) 😅
$SPOT rose 13.4%, clawing back its losses week-over-week, but it’s still down more than 19% on the month.
Honorable Mentions
We can’t help it — we love stocks that go up. Honorable mentions include Tesla (+10.6%), Netflix (+11%), and Beyond Meat (+15%). All three names were upgraded by analysts today.