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Market Highlights: Here is what triggered movement in these stocks

16 March 2022 By
  • GitLab tops Q4 revenue estimates, and US airlines issue revised revenue guidance.
  • Jim Cramer says Johnson & Johnson is a $200 stock
  • Northvolt announces plans to build a third EV battery factory

GitLab tops Q4 revenue estimates 

On Tuesday, GitLab Inc. (NASDAQ: GTLB) shares were up almost 20% after the company announced solid fiscal Q4 results and issued an upbeat outlook. The company had revenue of $77.8 million and a net loss of $45.8 million or $0.32 per share. On an adjusted basis, the company had a net loss of

$0.16 per share.

Analysts had called for revenue of $70.3 million and loss per share of $0.25. For the current quarter, the company is calling for revenue of $78 million and an adjusted loss per share of $0.28

Johnson and Johnson is a $200 stock, says Jim Cramer 

Johnson & Johnson (NYSE: JNJ) shares have recovered almost 10% within a month, but CNBC's Jim Cramer is confident that the stock has an upside of another 15%. The Mad Money host sees the stock hitting around $200, representing an upside of 15% from current levels.

Also, Jim is bullish about the company's plans to split the business into two public companies. One will focus on pharmaceutical and medical devices, while the other will focus on consumer products.

US airlines revise Q1 2022 revenue guidance

Major United States airlines revised their Q1 revenue outlooks, which indicates that the sector is recovering faster from pandemic-induced disruptions than anticipated.

Southwest Airlines Co (NYSE: LUV) expects a 92% recovery in revenue in Q1, while Delta Airlines Inc. (NYSE: DAL) is expected to report a 78% sales increase relative to pre-pandemic levels. American Airlines Group Inc (NASDAQ: AAL) expects sales to be down only 17% compared to 2019 levels relative to earlier projections of 22% drop, and United airlines Holdings Inc. (NASDAQ: UAL) anticipates almost 80% recovery in Q1 revenue thanks to business traffic return and growth in bookings.

Northvolt is building its third electric vehicle battery factory.

Northvolt stated that it would commence construction of a gigagfactory to produce EV batteries in Germany. The company anticipates producing the first batteries by 2025 from the Northvolt Drei facility located in Heide, Germany. The gigafacilty will produce almost 60 gigawatt-hours per year which is enough to power more than one million electric cars. This will be Northvolt’s third electric battery factory.