During Market hours on Friday – 03.12.2021:
- The Dow (Symbol: DIA) went down 0.11 %. The S&P 500 (Symbol: SPY) lost 0.87% and the Nasdaq (Symbol: QQQ) fell 1.74%.
- DocuSign (Symbol: DOCU) — The software stock plunged 42% after the company issued fourth-quarter sales guidance that was lower than what analysts expected. DocuSign gave a range of $557 million to $563 million, while analysts surveyed by Refinitiv expected $573.8 million.
- Asana (Symbol: ASAN) — Shares of the work management platform tumbled 26% despite beating expectations in its third-quarter results. Asana recorded an adjusted loss of 23 cents per share, which was narrower than the loss of 27 cents per share estimated by analysts, according to StreetAccount.
- Ollie’s Bargain Outlet (Symbol: OLLI) — Shares of the discount retail chain tanked 20% after Ollie’s missed estimates on the top and bottom lines for the third-quarter. Ollie’s said that supply chain issues hurt its results. Guidance for earnings and revenue was also weaker than expected.
- DiDi Global (Symbol: DIDI) — Shares of the Chinese ride-hailing giant fell 22% after company announced plans to delist from the New York Stock Exchange “immediately” amid Beijing’s crackdown on oversea listings. The company said it will pursue a listing in Hong Kong instead. Didi said its U.S. shares will be converted into “freely tradeable shares” on another international exchange.
- Marvell Technology (Symbol: MRVL) — The chipmaker’s shares jumped 17% after reporting quarterly results that beat estimates on the top and bottom lines. Marvell’s adjusted earnings came in at 43 cents per share on revenue of $1.21 billion of revenue, while analysts surveyed by Refinitiv were expecting 39 cents per share on revenue of $1.15 billion.
- Big Lots (Symbol: BIG) — The retailer saw its shares rise 5.3% after it reported a narrower-than-expected loss per share for the third quarter, at 14 cents, compared to analysts’ expectations of 16 cents. Big Lots also beat revenue expectations, bringing in $1.34 billion, versus estimates of $1.32 billion, according to StreetAccount.
- Tesla (Symbol: TSLA) — Tesla shares fell more than 6% after CEO Elon Musk sold another $1 billion in Tesla shares, bringing his recent stock sales to $10.9 billion.
During Premarket hours today (Monday – 06.12.2021):
- GCP Applied Technologies (Symbol: GCP) — The maker of specialty construction chemicals agreed to be acquired by French construction company Saint-Gobain for $32 per share in cash, or about $32 billion. GCP surged 13.3% in premarket trading.
- FactSet Research (Symbol: FDS) — The provider of financial information will join the S&P 500 prior to the market opening on December 20, along with Signature Bank (Symbol: SBNY) and SolarEdge Technologies (Symbol: SEDG). They’ll replace Leggett & Platt (Symbol: LEG), Hanesbrands (Symbol: HBI), and Western Union (Symbol: WU), which will all move to the S&P MidCap 400.
- Alibaba (Symbol: BABA) — The China-based e-commerce giant saw its shares add 1% in premarket action after it announced a reorganization of its e-commerce teams and named a new chief financial officer.
- MicroStrategy (Symbol: MSTR) — MicroStrategy tumbled 7.9% in the premarket following the weekend slide in the price of bitcoin. The business analytics software company has billions of dollars in bitcoin holdings on its balance sheet.
- Lucid Group (Symbol: LCID) — The electric vehicle maker’s stock slumped 14.7% in premarket trading after it received a subpoena from the Securities and Exchange Commission. Lucid said the subpoena requested documents related to its SPAC merger deal with Churchill Capital Corp.
- Electronic Arts (Symbol: EA) — The video game maker gained 1.6% in premarket trading after Citi upgraded the stock to “buy” from “neutral.” Citi said the recent slide presents a buying opportunity despite concerns over factors like the weakness in EA’s “Battlefield 2042” title.
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