Friday Morning Stock Market Movers: DraftKings Jumps, Palantir Falls, Dow Rebounds
Shares rose on Friday morning amid a broad rally.
Dow Jones industry average
Futures gained 212 points, or 0.7%, on 29,201 while
The futures are up 0.7% and the tech heavy
rose by 0.6%.
Big tech stocks rose, with Amazon (AMZN) gaining 0.6%, but major indices were boosted across industries. Industrials and consumer discretionary rose, with more cyclical names outperforming defensive names. Starbucks (SBUX) rose 0.4% and Nike (NKE) rose 1.5%, while Procter & Gamble (PG) rose 0.3% and
rose by 0.3%.
Here were some of the biggest movers on Friday:
DraftKings (DKNG) shares rose 10% to $ 45 after the company beat estimates of sales and earnings. The company lost 57 cents per share, less than expected for a 63 cents loss. Revenue was $ 132.8 million, beating estimates of $ 131.6 million.
Teladoc (TDOC) rose 2.3% to $ 191 after Robert Baird upgraded the stock from neutral to outperform.
Palantir (PLTR) fell 2.3% to $ 14 after Morgan Stanley downgraded the stock from overweight to equal weight.
Cisco (CSCO) rose 7.5% to $ 41.5 after beating estimates on both the upper and lower ranges. Earnings per share were 76 cents compared to estimates of 70 cents. Revenue was $ 11.9 billion versus an estimate of $ 11.8 billion.
Disney (DIS) rose 3.4% to $ 140 after beating both upper and lower profit zones. Disney lost 2 cents a share, up from estimates for a loss of 65 cents. Revenue was $ 14.7 billion versus expectations of $ 14.1 billion.
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