United Airlines (UAL) – A play on upcoming earnings. United Air will report quarterly results on Tuesday of next week. Earnings out of Delta Air (DAL) were affecting the airline space Thursday morning. While Delta reported a quarterly miss, the company’s guidance was better than expected.
Spotify (SPOT) – A play on a bullish call by an analyst at Morgan Stanley. With shares of Spotify down from around $300 a year ago to under $100 recently, Morgan Stanley’s Ben Swinburne noted his expectation for “streaming audio user growth to remain relatively resilient among digital consumer services…”
Intercontinental Exchange (ICE) – ICE is the owner of the New York Stock Exchange.
Weber (WEBR) – A play on a “bad” rumor. On Tuesday of this week, shares of Weber jumped sharply following a report which suggested the company could be the target of a takeover approach. Within about 30 minutes, Weber shares began seeing profit taking. The next morning, a Bloomberg report came out which suggested the company was in talks for a debt financing deal. The stock is now down about 20% from where shares were trading following the initial rumor. Traders should use this series of events as a lesson in sourcing.
Laser Photonics (LASE) – One of Thursday’s morning’s biggest gainers. Shares were up about 40% following a Benzinga Pro exclusive early release on news the company’s laser blasting product will be utilized at Coca-Cola (KO) bottling plants.