During Market hours Friday– (Friday – 04.06.2021):

  • The Dow (Symbol: DIA) went up 0.54%. The S&P 500 (Symbol: SPY) popped 0.91% and the Nasdaq (Symbol: QQQ) jumped 1.70%.
  • DocuSign (Symbol: DOCU)– Shares of the electronic signature company surged 19.7% after beating on the top and bottom lines of its quarterly earnings. DocuSign earned 44 cents per share on revenue of $469 million. DocuSign also gave second-quarter and full-year revenue guidance above estimates.
  • Pershing Square Tontine Holdings (Symbol: PSTH) – Billionaire investor Bill Ackman’s blank-check company is trading 11.94% lower after confirming it’s in talks to buy 10% of Universal Music Group for about $4 billion. Pershing said deal will not result in a merger and Universal will move forward with its plans to be listed on the Euronext Amsterdam in the third quarter.
  • AMC Entertainment (Symbol: AMC)– The meme stock swung wildly in Friday’s volatile session and last traded down 6.68%. AMC is set to end the week with a gain north of 100% as retail traders piled into the speculative name. CEO Adam Aron asked shareholders Thursday to allow his company to issue up to 25 million more shares. This came after AMC sold 20 million shares in two separate deals over this past week, generating around $800 million in cash.
  • Biogen (Symbol: BIIB)– The biopharmaceutical company’s shares are up about 5% as it awaits a decision on its Alzheimer’s drug by the Food and Drug Administration Monday. If the agency approves it to market the drug, the stock, which closed at about $286 Friday, could jump to $450 or fall as low as $200, according to Wall Street analysts.
  • Five Below (Symbol: FIVE)— Shares of Five Below added 6.98% after the company’s first quarter earnings results beat Wall Street estimates. Same-store sales also surged 162% compared to the same quarter a year ago. Analysts were looking for a 149.4% increase in comparable-store sales.
  • Nvidia (Symbol: NVDA)— Nvidia shares gained 3.6% and hit a new 52-week high of $704.43 at one point Friday. Evercore ISI reiterated Nvidia as a top pick on Thursday and said it sees shares increasing. “Despite rising crypto concerns and current supply constraints, we believe investor fears for NVDA’s Gaming business are largely overdone based on our view that true gaming demand remains greatly underappreciated,” Evercore said in a note.
  • Northrop Grumman (Symbol: NOC)– Shares of the defense contractor rose 3% after Stifel upgraded the stock to buy from hold. The investment firm said in a note that the defense sector appeared undervalued and that Northrop Grumman’s stock could rise nearly 30%.
  • Square (Symbol: SQ)– Shares of the payments company jumped 1.07% Friday after CEO Jack Dorsey announced on Twitter that Square is considering creating a bitcoin wallet, which would allow holders and buyers of bitcoin to custody their own funds rather than leave it in the hands of the exchange where they bought it.
  • Lululemon Athletica (Symbol: LULU)— Lululemon shares jumped 3.83% after the athletic apparel maker reported better-than-expected first-quarter financial results. The company posted quarterly adjusted earnings of $1.16 per share on revenue of $1.23 billion, topping analysts’ expectations of 91 cents earnings per share on $1.13 billion in revenue. Lululemon also issued a strong forecast for its fiscal second quarter and raised full-year estimates.
  • Tesla (Symbol: TSLA)– The electric vehicle company saw shares rise 4.58% on reports that it’s looking to build headquarters and showrooms in India, and considering using a franchise model for aftersales workshops. The rebound comes after Tesla suffered a drop Thursday due to a decline in May sales.

During Premarket hours today – (Monday – 07.06.2021):

  • U.S. Concrete (Symbol: USCR) – The concrete supplier agreed to be bought by construction materials maker Vulcan Materials (Symbol: VMC) for $74 per share in cash, or about $1.29 billion. That’s a nearly 30% premium over U.S. Concrete’s Friday closing price of $57.14. U.S. Concrete shares soared 27.7% in premarket action.
  • G-III Apparel (Symbol: GIII) – The apparel maker reported quarterly earnings of 53 cents per share, compared to a 15 cents a share consensus estimate. Revenue also came in above Wall Street forecasts. G-III issued an upbeat full-year outlook as well, noting growth in sales of its sportswear and wear-to-work attire. Its shares rallied 5.8% in premarket trading.
  • Biogen (Symbol: BIIB) – The drugmaker’s shares gained 2.2% in the premarket ahead of an expected ruling by the Food and Drug Administration on Biogen’s experimental Alzheimer’s treatment aducanumab. The drug would be the first major drug approved for Alzheimer’s, but some experts say there’s not enough evidence the treatment provides meaningful benefit.
  • KKR (Symbol: KKR) – KKR will buy airport services company Atlantic Aviation from current owner Macquarie Infrastructure (Symbol: MIC) for nearly $4.5 billion, seeking to benefit from growing demand for private jet services. KKR added 1.5% in premarket action.
  • Visa (Symbol: V) – Visa was upgraded to “overweight” from “neutral” at Piper Sandler, which said it expected the payments network operator to benefit more from the vaccine-driven U.S. recovery than rival Mastercard (Symbol: MA). Visa added 1.1% in the premarket.
  • Peloton (Symbol: PTON) – The fitness equipment maker was rated “buy” in new coverage at Loop Capital, which notes a 40% drop from January highs and an expectation that the financial impact of the company’s treadmill recalls is likely overstated. Peloton rose 1.2% in premarket trading.

*Any information contained in this article, including any information contained in external third party links, if any, is solely for informational purposes and does not contain, or should not be construed as containing, investment advice or an investment recommendation, or, an offer of or solicitation for any transactions in financial instruments. Past performance does not guarantee or predict future performance. Colmex Pro Ltd does not take into account your personal investment objectives or financial situation and makes no representation, and assumes no liability to the accuracy or completeness of the information provided, nor for any loss arising from any investment based on presented information.