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Top Stock Market News for Today April 5, 2022


Stock market futures plunge as recession fears rise amid growing tensions between Ukraine and Russia

US Stock Futures are trading lower early in the morning today. This comes after a relatively good session for the broader stock market. Now, one of the main focus for investors could be the ongoing war between Ukraine and Russia. In particular, a growing concern would be the widespread economic impacts stemming from the conflict. This includes long-term supply chain disruptions and escalating penalties.

Giving more information about this would be JP Morgan (NYSE: JPM) CEO, Jamie Dimon. In his latest annual letter to shareholders, Dimon writes that the ongoing invasion of Ukraine will likely slow the US and global economy. According to JPMorgan economists, the war and resulting sanctions against Russia could see the US economy grow 2.5% this year. This would be a reduction from the bank’s original GDP growth forecast of 3%. Additionally, Dimon argues that “much more,“Sanctions could arrive as tensions continue to mount. As of 6:29 a.m. ET, Dow, S&P 500 and Nasdaq futures are trading down 0.26%, 0.26% and 0.28% respectively.

Aterial overvoltages following a possible momentum of short compression

In today’s news we have people like Aterian (NASDAQ: ATER). This is mainly due to the fact that ATER stock gained up to 53% in intraday trading yesterday. Following that, the company’s shares are now up more than 8% in premarket trading today. Before we get into the details, let’s do a brief introduction to Aterian. In general, it identifies itself as a technology-based consumer product platform. Through its businesses, Aterian builds, acquires and partners with best-in-class e-commerce brands to create consumer products. To highlight, the company’s Artificial Intelligence Marketplace E-Commerce Engine (AIMEE) leverages AI, natural language processing, and data analytics to streamline product management. It does this for some of the largest online marketplaces in the world. This includes Amazon (NASDAQ: AMZN), Shopify (NYSE: SHOP), and walmart (NYSE: WMT) to name a few.

More importantly, the monumental gains in ATER stock at this week’s opening bell would now turn heads. With no apparent press releases or SEC filings fueling this growth, some suspect a possible near-term squeeze. In other words, mentions of Aterian becoming another meme stock are now doing the rounds. As it stands, DA Davidson analysts have a “Buy” rating on ATER stock alongside a price target of $7. In this case, the company would point to a possible upside of about 104% from its closing price of $3.42 per share yesterday. As stocks continue to stabilize after a volatile first quarter, ATER stock could be exciting play for some now.

Source: Trading View

[Read More] 3 Best Meme Stocks to Watch in the Stock Market Today

Roku Lands extends multi-year distribution partnership with Amazon

On the digital entertainment front, Roku (NASDAQ: ROKU) continues to forge ahead on the operational front. Namely, the company maintains its ongoing partnership with Amazon’s Prime Video platform. According to a press release from Roku, the duo are moving forward with a multi-year extension of their distribution deal. Simply put, this will ensure that Roku customers can continue to access the Prime Video and IMDb TV apps. Although the terms of the deal were not disclosed, it is still a positive update from Roku.

After all, as video streaming companies like Amazon continue to increase their offerings, content aggregators like Roku would thrive. It could be because Roku serves as a one-stop hub for some of the best streaming services on the market today. Tastes that range from netflix (NASDAQ:NFLX) and by Disney (NYSE: DIS) Disney+ at AT&T (NYSE: T) HBO Max, and Apples (NASDAQ: AAPL) AppleTV+. Not to mention, this comes as Roku is rolling out the latest update to its in-platform operating system, Roku OS. With Roku OS 11, the company is bringing new quality of life updates as well as new photo sharing features. This all serves to refine and add a sense of interactivity to the Roku streaming experience.

By ensuring that its offerings remain relevant, Roku can ideally retain its members across the board. With all of this in mind, investors looking for video streaming stocks might consider ROKU stocks now.

ROKU Stock
Source: Trading View

[Read More] The best cyclical stocks to buy right now? 5 For your list

Merck increases HPV vaccine manufacturing capacity in Virginia plan

Elsewhere, Merck (NYSE: MRK) has now expanded its manufacturing capabilities. In detail, the company did this at its factory in Elkton, Va., to bolster the supply of its human papillomavirus (HPV) vaccine. According to Merck, recent investments in the site will continue to help it meet growing demand globally. Going into specifics, it involves building a 120,000 square foot extension to its current facility. Following this, the company now has 150 new jobs and greater capacity and offers its HPV vaccines.

Speaking on this, Merck’s Global Head of HPV Vaccines, Priya Agrawal. She notes, “Through our long-term agreement with UNICEF, we plan to provide 91.5 million doses of our HPV vaccines for use in Gavi-supported countries from 2021 to 2025, and we have donated additional doses to beyond this agreement.Not to mention, Merck also nearly doubled its HPV vaccine supply from 2017 to 2020. Looking ahead, it expects the same growth through 2023 as it doubles the construction of new facilities. After reviewing Merck’s current momentum, I could see MRK shares gaining attention in the stock market today.

MRK Stock
Source: Trading View

[Read More] 4 top utility stocks to watch in April 2022

Hertz seeks to buy 65,000 electric vehicles from Polestar

Car rental company Hertz (NASDAQ: HTZ) appears to be making solid efforts to electrify its rental fleet. As of yesterday, the company plans to purchase up to 65,000 electric vehicles (EVs) from Swedish EV maker Polestar. Hertz expects to complete these transactions within the next five years. This significant addition of zero-emission models to its fleet would indicate that Hertz is adapting to the times. As vehicle emissions regulations continue to tighten, some would say this move benefits Hertz in the long run.

According to the company’s estimates, it will start offering Polestar electric vehicles in Europe this spring. Additionally, Hertz also says that customers in North America and Australia will likely have this option later this year. For one thing, it’s not all that surprising news coming out of Hertz. Recall the company’s plans to order 100,000 electric vehicles from You’re here (NASDAQ: TSLA) in October 2021. In fact, as of last month, Hertz now also has Tesla’s mid-size Model Y SUV in its rental portfolio. Overall, the company is actively expanding its offerings while adapting to changing demands in the automotive space. It remains to be seen whether HTZ stock can benefit from this advance.

HTZ Stock
Source: Trading View

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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