Markets barely changed in pre-market trade after two straight days of declines in the S&P 500 (SPY) and the Dow Jones. Economists are predicting that mortgage rates will fall in 2024. Long-term bond yields are falling on speculation of falling rates. However, BlackRock said that the market’s bet on rate cuts is overdone.
Avis Budget (AVIS) and PACCAR (PCAR) are the special stocks today. Avis declared a $10.00 special dividend payable to shareholders of record on Dec. 15. Commercial truck supplier PACCAR declared a $3.20 special dividend.
Rumors circulating that Zoom (ZM) might buy Five9 (FIVN) proved false. Five9 fell by 5% in after-hours trade after it said it was not exploring a sale. This is yet another instance of wrong facts pushing stocks higher. iRobot (IRBT) soared on rumors of the European Commission approving Amazon’s (AMZN) buyout. The next trading day, the EC issued a statement of objection.
SentinelOne (S) rose by 18.85% after the company raised its FY2024 revenue outlook. It now expects revenue of $616 million, up slightly from $605.2 million prior.
Aspen Aerogels (ASPN) gained 17.4% when the firm received a PyroThin vehicle platform award from The Automotive Cells Company. The battery cell joint venture is among Salt-TotalEnergies, Mercedes-Benz, and Stellantis (STLA). Aspen will start supplying in 2025.
Related Stories
