US markets were mixed on Tuesday morning, with investors eyeing the release of January inflation data later in the week as earnings reports continue to flow.
Oil prices are lower, while gold and Bitcoin (BTC) are both in the green.
| NASDAQ | S&P 500 | Bitcoin |
|---|---|---|
| 14,002.49 (-0.09%) | 4,479.40 (-0.10%) | 43,736.23 (+0.90%) |
Here are some of today's trending stocks:
Velodyne Lidar (NASDAQ: VLDR) saw its share price jump by more than 15% in morning trading on Tuesday after a wholly-owned subsidiary of Amazon (NASDAQ: AMZN) secured a warrant to acquire 39.6 million shares of the sensor technology outfit.
Pfizer (NYSE: PFE) has posted a mixed set of fourth quarter earnings but projected record revenues for 2022, with almost $55bn expected to be generated by its COVID-19 vaccine and its Paxlovid treatment.
Nvidia (NASDAQ: NVDA) has found itself in the spotlight after the chipmaker acquisition of UK-based microchip designer Arm was cancelled by its current owner, SoftBank. The Japanese conglomerate has indicated that it may now take Arm public.
Harley-Davidson (NYSE: HOG) has surprised investors with a fourth quarter profit and positive earnings amid unforeseen demand for its motorcycles.
American Rebel Holdings (NASDAQ: AREB) shares are up by more than 80% the day after the firearm safe specialist joined the NASDAQ. Read more about AREB here.
Peloton (NASDAQ: PTON) has announced that founder and chief executive John Foley will step down, while cost-cutting measures could include 2,800 job losses. The news comes amid continued acquisition interest from the likes of Nike (NYSE: NKE) and Amazon (NASDAQ: AMZN).
Explaining the company’s appeal to prospective buyers, Hargreaves Lansdown senior investment and markets analyst Susannah Streeter said:
“Peloton has one foot already firmly in the much-trumpeted metaverse, with its die-hard fans still deeply hooked to virtual sessions. That’s why the company is considered to be so attractive to big hitters like Nike and Amazon.
“If it can shape up and get back on a recovery trajectory in terms of sales, there may well be more potential suitors eager to jump into the alternative reality of fitness.”
The company is expected to release its earnings after the close of trading today.
Facebook and Instagram owner Meta Platforms (NASDAQ: FB) has warned that it may have to shut down the two social media apps in Europe unless it is allowed to process data from users on the continent in the US. The company’s share price has dipped after European leaders appeared unfazed by the warning.
SelectQuote (NYSE: SLQT) has seen its share price tumble after the insurance portal reported a shock second quarter loss, which it attributed to hiring difficulties and issues with Medicare plan features.
Oil giant BP (NYSE: BP) has beaten analyst expectations and recorded its highest profit in eight years, with the company benefiting from rising commodity prices.