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Summary
- Robinhood stock (NASDAQ:HOOD) jumped over 15% in the pre-market session.
- Moderna Inc (NASDAQ:MRNA) gained FDA’s Fast Track designation to its mRNA-1345 vaccine. The stock gained 393% in one year.
- CVS Health Corp (NYSE:CVS) on Wednesday reported an 11% growth in revenue in Q2 YoY. The stock was trading about 4% lower from the previous close at 9:04 am ET.
The stocks of Robinhood Markets, Inc (NASDAQ:HOOD), Moderna Inc (NASDAQ:MRNA), and CVS Health Corporation (NYSE:CVS) were trending on Wall Street Wednesday.
CVS Health has reported strong second-quarter earnings results and raised its sales forecast for the full year 2021 on Wednesday.
Let's look at these companies' recent developments and activities that may have contributed to Wednesday's renewed focus on investors.
Robinhood Markets, Inc. (NASDAQ:HOOD) debuted in NASDAQ on July 29. Its opening price was US$38. The stock has seen several highs and lows since. On Wednesday, it surged by 15.79% to US$54.19 from the previous close at 8:36 am ET in the pre-market session.
Its share volume in the previous trading session was 93,819,200 compared to 19,948,530 a day before. Robinhood’s market cap is US$39.4 billion and provides cloud-based financial services.
In its IPO, Robinhood had offered 55,000,000 shares of Class A common stock, of which 52,375,000 were from the company, and 2,625,000 were from the existing shareholders.
Also Read: Which are the popular industrial stocks to explore in August?
Source: Pixabay
Moderna, Inc. (NASDAQ:MRNA) stock surged 11.51% from the previous close on Aug 3. However, it was down 0.08% to US$386.22 from the previous close at 8:49 am ET on Wednesday.
The share volume rose to 20,424,080 on Aug 3 compared to the average volume of 13,943,320. The growing investor interest in the stock can be attributed to FDA’s Fast-Track designation to its mRNA-1345 vaccine for the RSV respiratory disease for older people.
Moderna’s market cap is US$155.2 billion, and the P/E ratio is 309.21. The biotechnology company went public in 2018 after it was founded in 2010. The stock gained 393% in one year.
Also Read: Which are the six fastest-growing US small-cap stocks?
CVS Health Corporation (NYSE:CVS) is another large-cap healthcare company in the US. The stock closed 1.93% higher at US$84.00 from the previous session on Aug 3. The trading volume almost doubled to 7,620,337 on Tuesday compared to the previous session.
On Wednesday, the stock declined by 4.76% to US$80.00 from the previous close at 9:04 am ET after announcing strong Q2 results. It logged revenue of US$72.6 billion, up 11.1% YoY, in the June quarter. Its net income was US$2.791 billion, which was US$195 million less from the year-ago quarter. The GAAP EPS diluted was US$2.10.
CVS also raised its guidance for the full year 2021. As a result, the expected GAAP EPS diluted has been raised to a range of US$6.35 to US$6.45 from the previous US$6.24 to US$6.36.
CVS current dividend yield is 2.43%, and the P/E ratio is 14.97. Its market cap is US$110.6 billion. in one year.
Please note: The above constitutes a preliminary view and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.
