Investing

Tuesday's 10 Premarket Winners and Losers Include GM, Meta Platforms and Velodyne Lidar

The three major U.S. equities indexes closed flat to lower Monday, following a sharp sell-off in the last 45 minutes of trading. The Dow Jones industrials closed flat, the S&P 500 0.4% lower and the Nasdaq down by 0.58%. That was the final bounce in a day of bouncing. Among S&P 500 stocks, losers and winners were evenly divided (245 to 255, respectively) in Monday trading. Six of 11 sectors closed lower, led by communications services (down 1.7%) and technology (down 0.7%). Energy was the day’s big gainer, closing higher by 1.3%.

At around 7:00 a.m. ET Tuesday morning, S&P 500 futures traded down about 0.2%, the Nasdaq was down about 0.4% and the Dow traded essentially flat.

Crude oil settled at $91.32 on Monday and traded down by about 1.9% in early trading Tuesday at $89.57. The 10-year/two-year U.S. Treasury note spread ended the day at 0.63%, up three basis points from Friday’s settlement. The yield curve had narrowed by about one in premarket trading Tuesday.

Here are the five S&P 500 stocks that closed with the largest gains on Monday: Tyson Foods (up 12.23%), Royal Caribbean Cruise Lines (up 8.44%), Norwegian Cruise Lines (up 8.40%), Carnival Corp. (up 7.82%) and American Airlines (up 5.05%).

Monday’s biggest losers among S&P 500 stocks were Zimmer Biomet (down 9.09%), Constellation Energy (down 8.12%), Meta Platforms (down 5.14%), Avery Dennison (down 4.14%) and PayPal (down 3.70%).

Among Tuesday’s leading gainers in the premarket was Velodyne Lidar Inc. (NASDAQ: VLDR), which traded up by nearly 44%, at $5.42 in a 52-week range of $3.13 to $24.70. The maker of lidar sensors for advanced autonomous driving systems concluded a deal with Amazon granting the e-commerce giant a warrant to purchase 39.6 million shares of company stock at $4.18 per share at any time between now and February 4, 2030. The stock closed at $3.77 on Monday and gained as much as 127% in after-hours trading.

Harley-Davidson Inc. (NYSE: HOG) traded up by around  9% before markets opened Tuesday, at $39.20 in a 52-week range of $32.13 to $52.06. The motorcycle maker reported quarterly results late Monday that roared past profit and revenue estimates. It also issued upside guidance for fiscal 2022 that included an increase of 5% to 10% in revenue.

Chegg Inc. (NASDAQ: CHGG) traded up by about 7.8% in the premarket session, at $29.40 in a 52-week range of $23.23 to $115.21. The online learning platform beat both profit and revenue when it reported quarterly results Monday afternoon and issued upside guidance for both the current quarter and the 2022 fiscal year.

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