- Nektar Therapeutics suffered relatively more than others Friday after 49.66% dip As things stand, Taboola (down 19.12%) and Outbrain (down 7.88%) are underperforming today
- European markets were down Friday as CAC is currently down 1.78% and trading around 7,187.27.
Ahead of tomorrow's session: leading equity indices in the US declined as Nasdaq closed at 11,400, a 1.69% change. Dow Jones was down 1.02% before closing the session at 32,817.
US markets are currently closed but will resume tomorrow in around 22 hours time. European markets closed lower Friday. Asia-Pacific markets ended a mixed session Friday whilst Nikkei rises by 1.29%, reaching 27,453.
Marvell Technology Group Ltd and Best Buy Co Inc due to release their earnings reports within the following week.
While price action maintains a negative bias, United States New Home Sales (Jan) came out at 670,000, while a consensus of analysts was expecting 620,000. United States Core PCE Price Index (MoM) (Jan) released Friday with a figure of 0.6, while the previous figure was 0.4. United States CFTC S&P 500 speculative net positions came out at -222,300.
Looking ahead, ongoing depreciation may be prolonged as tomorrow at 15:00 UTC data for United States Pending Home Sales will be released, with an expected decline to 1% from the preceding figure of 2.5%.
In addition, United States Core Durable Goods Orders is projected to outperform its last figure with 0.1%, having previously been at -0.2%. The figure will be published tomorrow at 13:30 UTC. United States Consumer Confidence is projected to outperform its last figure with 108.5. It previously stood at 107.1; data will be released Tuesday.
Friday's bearishness meant that Nektar Therapeutics lost 49.66% Friday before closing at $1.49. Taboola (down 19.12%), Outbrain (down 7.88%) also underperformed Friday.
Taboola | -1.52% to $3.25 in pre-market trade with 22 hours until open
Early in Friday's session, Taboola.com Ltd. dropped to $3.12 from $4.08 at the end of Thursday, before closing at $3.3. During the session, it lost 19.12%. Daily trading volume (3.21 million shares) increased, making up 204% of the 21-day average (1.57 million).
Outbrain | Closed Friday's session at $4.44
After a 7 day of trading sideways Friday's session suggests a further slow down: early in Friday's session, Outbrain dropped to $4.42 from $4.82 at the end of Thursday, before closing at $4.44. During the session, it lost 7.88%. Trading volume totalled 81,502 which equates to around 57% of the stock's 21-day average Friday.
Outbrain is scheduled to announce earnings results Thursday. The consensus Earnings Per Share estimate is -0.03 and the consensus revenue estimate is $208.77 million.