Stocks squeak by | eToro’s Weekly Stock Market Update

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week included significant gains for Clovis Oncology Inc. (CLVS), Grid Dynamics Holdings Inc. (GDYN), IZEA Worldwide Inc. (IZEA), Newegg Commerce Inc. (NEGG) and Axsome Therapeutics Inc. (AXSM).

NASDAQ TOP-PERFORMING STOCKS

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for Plantronics Inc. (POLY.US), Nielsen Holdings PLC (NLSN), American Well Corp. (AMWL), QuantumScape Corp. (QS) and Toast Inc. (TOST).

• Plantronics Inc. (POLY.US) shares shot up after tech peripherals giant Hewlett Packard (HP) announced a deal to acquire the audio and video devices maker for $1.7 billion in cash.
• Nielsen Holdings PLC (NLSN) shares surged following news that the market research firm agreed to be taken private.
• American Well Corp. (AMWL) shares jumped after the telehealth platform announced that it plans to shorten the earnout period associated with its acquisition of automated care company Conversa Health.
• QuantumScape Corp. (QS) shares popped following news that the electric vehicle (EV) battery start-up entered into a partnership with a luxury car brand Porsche.
• Toast Inc. (TOST) shares were up following positive coverage of the cloud-based platform for restaurants and hospitality services.

NYSE TOP-PERFORMING STOCK

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for MissFresh Ltd. (MF), InflaRx NV (IFRX), Sharecare Inc. (SHCR), GlobalFoundries Inc. (GFS) and Agile Therapeutics Inc. (AGRX).

• Shares of Chinese grocery chain MissFresh Ltd. (MF) plunged to a yearly low, but recouped some of its losses after releasing positive fourth-quarter 2021 sales data.
• InflaRx NV (IFRX) shares hit a record low after the biopharmaceutical company issued a disappointing update on its Phase III COVID-19 study.
• Sharecare Inc. (SHCR) shares tumbled after the digital health and wellness company reported worse-than-expected Q4 earnings as well as gloomy guidance.
• GlobalFoundries Inc. (GFS) shares entered a correction period in the semiconductor foundry’s recent tumultuous cycle of ups and downs.
• Shares of female health specialist Agile Therapeutics Inc. (AGRX) slipped following a disappointing earnings release.

NASDAQ WORST-PERFORMING STOCKS

New York Stock Exchange (NYSE) 

On the New York Stock Exchange, UiPath Inc. (PATH), Blend Labs, Inc. (BLND.US), Rite Aid Corp. (RAD), Torrid Holdings Inc. (CURV) and Blue Apron Holdings, Inc. (APRN) all experienced negative movement over the past week.

NYSE WORST-PERFORMING STOCKS

Highlights and Lowlights

US stocks had a volatile week that finished quite flat despite a gallant rally on Friday. The NSDQ100 and SPX500 both eked out minor gains, at 0.7% and 0.1% respectively, while the DJ30 dipped ever so slightly at -0.1%. 

An announcement by US President Biden ordering the release of US strategic oil reserves sent the black gold tumbling 13% — its biggest weekly loss in over a decade.

What’s in Store for the Week?

Earnings season is winding down, but several releases still remain, including those of Tilray, Levi Strauss and ConAgra. Check out eToro’s Earnings Reports Calendar for all of the details and to stay up to date.

Investors will be watching out for the release of the Federal Reserve’s last FOMC meeting’s minutes for further clues on upcoming rate hikes. Purchasing Managers Index (PMI) surveys, which track business’ activities, will show how well the US economy has been recovering from disruptions caused by the Omicron coronavirus variant.