2 stocks are enjoying a post-earnings pop
Below we are taking a look at three popular stocks making move in today’s trading, just on the heels of several earnings releases and an exciting approval from the Food & Drug Administration (FDA). Continue reading to find out more about why GameStop Corp. (NYSE:GME), Hello Group Inc. (NASDAQ:MOMO), and BioNTech SE (NASDAQ:BNTX) are making major noise on Wall Street today.
GME Brushes Off Steep Quarterly Loss
GameStop stock is shaking off its early morning losses and is now eyeing the end of a three-day losing streak. The company reported a wider-than-expected third-quarter loss of 31 cents, with fingers pointing to inflation and a lack of hit titles in recent months. Despite its promise of internal company turnaround efforts, GME is sporting a steep 33% year-to-date deficit. On the day, GME was last seen up 11% to trade at $24.89, despite a slower start before the bell.
China Software Stock Soars Higher
Chinese software stock MOMO is up an impressive 31% this afternoon, last seen near $6.90, after the company posted impressive third-quarter results. They did, however, report 8.4 million paying users for the Momo app, which is 1.2 million lower than 2021. On the charts, Hello Group stock is eyeing its best day since March and is sporting a 50% gain for the quarter.
FDA Buzz Sends Biotech Surging
BioNTech stock is enjoying a surge on the charts this afternoon, after news broke that the FDA has approved the Covid-19 booster vaccine for children six months to five years. Partnered with Moderna (MRNA) and Pfizer (PFE), the vaccination booster will be shipped out to healthcare facilities for distribution immediately. At last check, the pharma giant is trading up 4.5% at $170.17. In 2022, BNTX has shed 33% with recent overhead pressure forming at the 260-day moving average.
Image and article originally from www.schaeffersresearch.com. Read the original article here.