Market News

Cineworld (LON: CINE) shares plunged more than 50% on Monday after the company announced its temporary closure of 127 Cineworld and Picture house cinemas in the UK from Thursday, Oct 8 and 500 Regal cinemas in the US due to the pandemic.

The home goods retailer Bed Bath & Beyond (NASDAQ: BBBY) shares soared 30% on Thursday after the company reported better-than-expected second-quarter financial results.

Nikola (NASDAQ: NKLA) shares closed 14% higher on Wednesday after the latest reports said General Motors (NYSE: GM) might take a larger stake in Nikola than originally planned. The deal was supposed to be finalized by September 30, but both companies confirmed that discussions are still ongoing.

Costco Wholesale (NASDAQ: COST) showed its continued growth during the pandemic, America’s multinational corporation announced better-than-expected fourth-quarter financial results on Thursday.

Nike shares surged more than 13% after the sports giant reported better than expected quarterly results on Tuesday. Meanwhile, apparel maker revenue slipped 0.6% to $10.59 billion from $10.66 billion a year earlier.