ABMD - Uber Rides Higher but Here's Tuesday's Big Stock Winner
The stock market has been increasingly turbulent in recent weeks, and investors are hopeful that an old seasonal adage will prove to be a turning point in the current bear market. With the historically crash-prone October now over, market participants often hope for an end-of-year rally. The first trading session of November looked as though it might make good on that promise, with stock index futures up as much as 1.5% an hour before Wall Street opened for trading.
Beaten-down growth stocks have come back into the limelight in the most recent rally in October, and Uber Technologies (NYSE: UBER) found its stock moving sharply higher Tuesday morning after announcing its latest financial results. However, the biggest gains of the morning came from Abiomed (NASDAQ: ABMD) , which is the target of the latest acquisition bid from one of healthcare 's largest companies. You'll find more details below.
Shares of Uber Technologies were up 12% in premarket trading Tuesday morning. The ridesharing and delivery service reported massive gains in revenue, and even though losses also ballooned, Uber shareholders seem upbeat about the prospects for a full recovery in time.
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Uber Rides Higher, but Here's Tuesday's Big Stock Winner