Sizzling Shares: VERU rises after quarterly replace; EH extends positive factors; UAL improve; SNOW drops

Shares lacked a transparent overarching catalyst in Monday’s intraday buying and selling, with the S&P 500 falling about 1.5%. Regardless of this common weak point, there have been a whole lot of particular person names that bucked the downward development, together with Veru (NASDAQ:VERU), which surged following its quarterly report.

Elsewhere, EHang Holdings (EH) added to latest positive factors, because the agency extends the momentum generated by its latest earnings report. In the meantime, United Airways (UAL) rose on an analyst’s improve.

On the draw back, Snowflake (SNOW) confirmed a notable noon decline, persevering with to reverse a achieve proven final week instantly after its earnings report.

Gainers

Veru (VERU) rose in intraday motion, rising about 5% following the corporate’s This autumn replace. The advance got here on optimism concerning the agency’s experimental COVID remedy.

For This autumn, the corporate’s income dropped 36% from the identical interval final yr. Nonetheless, the corporate mentioned that it was making ready to commercialize the COVID drug, known as sabizabulin, even because the product undergoes evaluation within the U.S. and different markets.

EHang Holdings (EH) added to earnings-inspired positive factors logged on the finish of final week. Shares of the autonomous aerial automobile know-how platform rose virtually 30% in intraday buying and selling, including to a 20% enhance seen on Friday. The inventory is on monitor for its seventh day of positive factors previously eight classes.

On Friday, EH reported a Q3 non-GAAP lack of $0.86 per share, with income that dropped 40% from final yr. Nonetheless, shares rallied in response to the outcomes, as buyers centered on the agency’s long-term prospects. “Whereas the unfavorable market affect of the COVID-19 resurgence in China added stress to our third-quarter outcomes, we made significant progress in kind certification and different areas that may gas our long-term progress,” CEO Huazhi Hu mentioned.

United Airways (UAL) rose about 2% in noon buying and selling, bolstered by an improve from Morgan Stanley. The agency raised its score on the airline to Chubby from Equal-weight, pointing to a global restoration and a brand new contract with its pilots.

Decliner

Snowflake (SNOW) rallied final Thursday following the discharge of its quarterly outcomes, regardless of a weak This autumn forecast, as Wall Avenue centered on rising margins. Nonetheless, the inventory has reversed course within the final couple of classes, together with a virtually 8% decline in Monday’s noon motion.

SNOW rose virtually 8% the day after it launched its quarterly report. Nonetheless, the inventory trimmed its positive factors with an virtually 3% decline on Friday. Monday’s buying and selling noticed the inventory fall greater than $12 to round $137.50 at about 12:45 p.m. ET. This took it under its closing value final Wednesday, forward of its earnings report.

For extra on the day’s greatest winners and losers, head over to Searching for Alpha’s On The Transfer part.