Wall Street could face its first three-day losing streak in more than six weeks Wednesday as global stocks struggle to find direction amid a worrying resurgence in coronavirus infections.
Here is a recap of TheStreet’s premarket coverage for Wednesday, Apr. 21:
- Stock Futures Fluctuate Amid Virus Concerns
- Netflix Slumps as Subscriber Growth Stalls
- Wednesday’s Earnings Calendar: Verizon and Chipotle
- Apple Launches iPad Pro With M1 Processor
- Plans Collapse for European Soccer Super League
Premarket Movers Tuesday
- Netflix (NFLX) – Get Report | Decreasing -8.46%
- Norwegian Cruise Lines (NCLH) – Get Report | Increasing +2.50%
- Tripadvisor (TRIP) – Get Report | Increasing +2.13%
- Abbott Laboratories (ABT) – Get Report | Decreasing -3.96%
- United Airlines (UAL) – Get Report | Decreasing -3.09%
Shares of cruise lines gained Wednesday after Goldman Sachs upgraded Norwegian Cruise Line amid expectations of a strong post-pandemic rebound in demand.
Here is a recap of the latest stock market action including the top stock gainers, buy-the-dip candidates, volume leaders and advice from Jim Cramer from Tuesday, Apr. 20.
- Kansas City Southern (KSU) – Get Report | +15.25% Increase
- New Oriental Education (EDU) – Get Report | +6.46% Increase
- Fisker (FSR) – Get Report | +4.53% Increase
- BioNTech (BNTX) – Get Report | +4.48% Increase
- International Business Machines (IBM) – Get Report | +3.79% Increase
Cramer said if everything goes right Fisker could be the next Tesla but it needs to execute. “It’s a very interesting opportunity and I recommend it [Tuesday],” he said.
- Tripadvisor (TRIP) – Get Report | -10.39% Decrease Tuesday
- United Airlines (UAL) – Get Report | -8.53% Decrease Tuesday
- Virgin Galactic (SPCE) – Get Report | -6.59% Decrease Tuesday
- American Airlines (AAL) – Get Report | -5.48% Decrease Tuesday
- Ford Motor (F) – Get Report | -5.45% Decrease Tuesday
Cramer said Virgin Galactic was a quizzical sale and he’s not sure what to make of it. “She has had a lot of money come in but… there is a lot of questionable thinking there,” he added.
Cramer also talked about how he is “not a fan of the airlines” after United Airlines reported its financials. Cramer made an exception for Southwest (LUV) – Get Report and Boeing (BA) – Get Report but was slightly concerned that Boeing stock was down Tuesday after its CFO Greg Smith announced he will retire in July.
Tuesday Price Volume Leaders
- Tesla (TSLA) – Get Report | 25,602,515 Shares Traded
- Apple (AAPL) – Get Report | 12,602,466 Shares Traded
- Amazon (AMZN) – Get Report | 8,746,892 Shares Traded
- Netflix (NFLX) – Get Report | 6,186,839 Shares Traded
- Coinbase Global (COIN) – Get Report | 5,801,132 Shares Traded
Cramer’s missing Apple Watch episode helped him to understand one thing about Apple’s business and its stock. He then offered a warning to traders who try to time entries into Apple shares. Apple Maven covered the Spring-Loaded event Tuesday.
Netflix Inc shares tumbled in pre-market trading Wednesday after the streaming service said COVID disruptions would continue to dampen subscriber growth after a softer-than-expected first-quarter earnings report Tuesday.
Cramer called Netflix the worst stock of the FANGs and said: “Netflix is a big reset” after its disappointing report.
Best of Jim Cramer on Tuesday
Stock Market Today: Cramer discussed the latest stock market news including Cathie Wood owned ARK ETF’s stock sale of Virgin Galactic, the Fisker upgrade and markets on Tuesday.