United States: stocks to follow this Wednesday on Wall Street

  •   11/09/2020 - 11h10
  •   DEHOUI Lionel

On Wednesday, September 9, 2020, the main stocks to follow on the New York Stock Exchange were numerous. Indeed, the futures contracts on the various indices were predicting a rebound, as soon as they opened. This followed the sharp decline of the previous day, which had taken the Nasdaq Composite to 10% below its record value of September 2. Here is a quick tour of the main stocks followed by investors on Wednesday on Wall Street.

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United States: stocks to follow this Wednesday on Wall Street
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Tiffany, Tesla, Vaxart and Moderna

The title that surprised everyone was TIFFANY. The latter fell by more than 9% during the pre-trade. Either after the evocation by LVMH about the abandonment of the project of repurchase of the jeweller. In addition to this, the latter has announced a legal action against the world's No. 1 in luxury goods. The purpose of this action is to force the luxury leader to enforce their merger agreement.

Contrary to TIFFANY, TESLA stands out strongly by gaining another 7% in pre-trade trading. In other words, this comes on the heels of the sharp 21% drop. Tesla is closely followed by VAXART, which gained 6.2%, while Moderna gained 3.6% in the pre-exchange. All this came after the announcement by the British group AstraZeneca of the suspension of a clinical trial of its famous Covid-19 vaccine candidate.

Note: It should be noted in passing that the news could have an impact on the prices of PFIZER, MERCK & CO, NOVAVAX... On the other hand, AstraZeneca shares are down 1.5% in London.


Boeing, Lululemon Athletica and Slack Technologies

On the other hand, investors in the U.S. market saw Slack Technologies stock drop drastically. Indeed, the share of the professional messaging specialist fell by 16.7% in pre-trade trading. This drop was recorded following the announcement of a slowdown in the growth of its billings. This is an indicator that is fairly closely monitored and provides information on the future development of its turnover.

As for Lululemon Athletica's pre-stock market performance, it lost 4.9% after revealing that it was expecting a drop in its current earnings. A forecast made for the current quarter due to the increase in its costs. On the Boeing side, Virgin Australia Holdings said on Wednesday that it would return a third of its Boeing 737 aircraft. It will return them to its lessors and creditors in view of the restructuring plan put in place by Bain Capital (the new owner).


United Airlines, Watford Holdings and Baidu

At United Airlines, the time has come to readjust. Indeed, the company has recently revised downwards its activity forecast for the third quarter. It is now expecting a decrease of almost 85% in its annual sales. Still in yesterday's pre-trade, Watford Holdings signs a rebound of about 24%.

The Group found itself in this pleasant situation due to information that a consortium of investors had submitted a takeover bid. On the other hand, the Chinese Baidu group, which specialises in new technologies, is still in discussions with several investors. It will have to convince them to raise 2 billion dollars over 3 years in order to invest it in a biotech start-up using artificial intelligence.