These 5 Stocks Are Up Big Today


The market is on pace to open higher after yesterday’s slide. All three major U.S. indices closed yesterday’s session with losses greater than 1.0%. The sell-off centered around tech stocks, and the tech-heavy Nasdaq lost nearly 2.0% on the day. Meanwhile, the S&P 500 fell 1.8% and the Dow lost 1.5%.

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Despite the recent volatility, the market is set to for a strong close to the week. Early morning futures action indicates stocks will open the session with gains, and we’re seeing a broad pre-market rally in technology stocks.

Asian stocks were mostly higher overnight. Japan’s Nikkei 225 and China’s Shanghai Composite both advanced 0.7% on the session. In Europe, the markets are mixed, and the Eurozone Stoxx 600 is currently flat.

Today’s featured earnings schedule includes a pre-market release from Kroger [KR].

Today marks the 19th anniversary of the September 11th terrorist attacks. Let’s take a moment to remember the American heroes that answered the call of duty on that infamous day. Thank you for your service!

Here’s what’s moving the market this morning:

Oracle Corp. (ORCL)

Oracle reported better-than-expected earnings results thanks to new cloud business deals with several prominent customers, including McDonalds (MCD), Albertson’s (ACI), and Humana (HUM). The firm also won a contract with Xactly to move the company’s flagship business software product to the Oracle Cloud infrastructure.

ORCL is one of the top gaining S&P 500 stocks this morning and it’s currently up 3.8%.

Occidental Petroleum (OXY)

Occidental failed to obtain consent from certain note-holders to enact changes to the indenture agreements governing the notes. As a result, the company won’t be able to move forward with its proposed changes.

Occidental was shooting to remove certain stipulations associated with the indenture agreement, but it needed to get the consent of certain note-holders before it could move forward.

The market appears to be looking at this development as a net positive. OXY is one of the top-gaining S&P 500 stocks this morning and it’s currently up 1.9% on active trading volume.

Peloton Interactive Inc. (PTON)

Peloton posted its first-ever quarterly profit thanks to enhanced demand from gym-less Americans stuck in quarantine. The home exercise company’s revenues nearly tripled in the quarter ended June 30, as demand surged for its at-home exercise system.

Peloton’s subscriber count reached 1.1 million in the quarter as the company added more than 200,000 subscribers since the end of March. The company posted at $89.1 million profit in the quarter on revenues of $607.1 million, and both those figures were well above Wall Street expectations.

PTON is rallying on news of the blowout quarter. The stock is trading actively and it’s currently up 11.7% in the pre-market.

Social Capital Hedosophia Holdings (IPOB)

This SPAC stock is on the rise today thanks to rumors that a valuable tech startup will use the company as a vehicle to take itself public. Sources say Social Capital is in advanced talks with Opendoor to take the company public through a merger. Bloomberg reported the story on Thursday, citing inside sources with first-hand knowledge of the matter.

SPACs have been a hot commodity this year and IPOB is living up to the hype today. Shares rallied 4.1% yesterday, and it’s up another 8.8% in the extended hours trading session.

Eastman Kodak (KODK)

One of Kodak’s major stakeholders is offloading some of its shares. According to a recent company disclosure, Southeastern Asset Management lowered its stake in the company to 15.8%. Prior to the sale, Southeastern held a 26.8% stake in the company, but it offloaded about 9.8 million shares to reduce its position.

The market reacted positively to the news. KODK jumped to a 16% gain after the story hit the market, but its gains have tempered since the initial spike. However, the stock is still trading actively in the pre-market and it’s currently up 13.0%.


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