Netflix (NFLX) stock price was down yesterday but today in the pre-market it is slightly up. Netflix is going to cancel the subscriptions of the accounts that were inactive for a year.
Facebook will take major steps in expanding and hiring its full-time remote workforce said company CEO Mark Zuckerberg. He also added that for employees working remotely, the company would adjust compensation for taxes and accounting purposes.
The U.S. Biomedical Advanced Research and Development Authority has given AstraZeneca more than $1 billion in funding for the coronavirus vaccine. AZN stock is up.
PayPal’s initiative has been brought about by the necessity to avoid contracting the virus. Following the news, its stock jumped by 3.82% yesterday and closed in the green. However, now PYPL stock is 1% down.
Tesla (TSLA) stock prices rose yesterday but today it is falling. Meanwhile, it has become known that the EV maker decided to drop its lawsuit against Alameda County officials related to the lockdown order.
Ford (F) stock price was rising yesterday but today in the pre-market it is falling. Meanwhile, Ford is closing its plants after some workers tested positive for coronavirus.
Walmart has already started to gradually transfer its customers to the new Walmart app that now places 50% of online grocery orders. WMT stock closed in the green yesterday but declined in the pre-market today.
Moderna chairman Noubar Afeyan assured people of the company’s fidelity to statistical accuracy concerning its vaccine trials. MRNA stock price went up yesterday.
Investors have turned bullish on tech companies as COVID-19 could possibly change consumer behavior making them more online dependent. While Amazon accelerates its move in the gaming industry, Facebook makes a big announcement to step in e-commerce with Facebook Shops. FB and AMZN stocks are hitting new highs.
The three major Wall Street averages have soared on Wednesday. Dow Jones is nearly 400 points up. Stocks like Facebook and Amazon jumped as well, hitting new all-time records.
With the COVID-19 effect, Expedia revealed rather disappointing Q1 earnings results: adjusted net loss for the first quarter was $285 million, 545% up Y-o-Y. Additionally, the gross air bookings revenue for the company also tanked a massive 56%. However, EXPE stock is up now.
After closing yesterday with a 1% loss, JNJ stock was 0.34% down further in the pre-market today but is 0.72% up now. Johnson & Johnson announces that it will stop selling its talc baby powder in the U.S. and also in Canada.
Spotify has announced its partnership with popular podcast personality Joe Rogan. SPOT stock jumped 8% yesterday and is 5% up today.
FAANG stocks have been defying the coronavirus market disruption as they continue to scale higher every day. The NYSE FANG+ Index is up around 21% since the beginning of the year.
Facebook (FB) stock price is rising as Mark Zuckerberg announced the introduction of Facebook Shops which is a shopping feature available for free to users of Facebook, Instagram and Whatsapp.