Smart investors are watching these 2 fast-moving stocks right now


Equity markets were once again higher on Thursday, as investors reacted positively to news of a continued slowdown in inflation. The Nasdaq Composite (^IXIC 0.64%) And Dow Jones Industrial Average (^DJI 0.64%) While each saw similar size gains S&P 500 (^GSPC 0.34%) Although slightly behind, still managed to go higher.


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Data source: Yahoo! financing.

A couple of big movers were in the news Thursday. Virgin Galactic Holdings (SPCE 7.69%) The past year has seen a lot of turmoil, but the company still hopes to make good on all its prospects. Meanwhile, Logitech International (Windows -16.86%) released financial results that show how it is still coping with the impact of changing trends since the start of the COVID-19 pandemic.

Virgin Galactic is still space-bound

Shares of Virgin Galactic Holdings rose 8% in the regular trading session and then added another 18% in after-hours trading on Thursday. The space tourism specialist has gone through significant challenges lately, but the company has reassured its investors with its latest plans for 2023.

Late Thursday afternoon, Virgin Galactic said it would begin a transition in its leadership structure as a prelude to moving forward with its planned commercial space travel program. Accordingly, Swami Iyer, the current President of the company’s Aerospace Systems, is stepping down from his post with immediate effect. Iyer will assist with the transition as an advisor to CEO Michael Colglazier until early March.

Virgin Galactic explained that Iyer has successfully prepared the company’s spacecraft for commercial flight. With that done, the next step is to make regular trips to space and expand its fleet to serve a wider range of customers. Supporting that effort, a team of three experts with NASA experience, Delta Air LinesAnd Lockheed Martin will work to ensure safe space-line operations at increasing speeds.

Investors were pleased to hear that Virgin Galactic still expects to begin commercial service in the second quarter of 2023. Gains for the stock only recouped a fraction of its losses over the past six months, but many shareholders expect the stock to improve further. Price if Virgin Galactic flights are better in the coming year.

Logitech works with frustration

Elsewhere, shares of Logitech International fell 17%. The maker of computer peripherals and other related items released preliminary results for the fiscal third quarter ended December 31, and investors were happy with the decline in business losses.

Logitech’s quarterly results were not pretty. Net revenue fell 22% to 23% year over year from $1.26 billion to $1.27 billion. The company did not directly release earnings figures, but it estimated that its adjusted operating income fell 33% to 34% from year-ago levels to around $200 million.

Logitech pointed to ongoing macroeconomic weakness, emphasizing sluggish sales to its enterprise clients during the period. Also, due to the ongoing COVID-19 outbreak in China, Logitech has expressed some concerns about its supply chain. As a result, the company lowered its full-year outlook for fiscal 2023, now expecting sales to fall 13% to 15%, down from the company’s previous estimate of a 4% to 8% decline.

Logitech undoubtedly benefited from the acceleration of remote work at the start of the pandemic, as people around the world rushed to buy computers and video conferencing equipment. While those trends have slowed, Logitech has seen an impact on its finances. As long as computer sales remain sluggish, Logitech may have trouble rebounding.

Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool has positions and recommends Logitech International. The Motley Fool recommends Delta Air Lines and Lockheed Martin. Motley Fool has a revealing policy.


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