During Market hours Friday (04.12.2020):
Stocks rose to record levels on Friday, notching another weekly advance, as traders shook off a disappointing U.S. jobs report.
- The Dow (Symbol: DIA) went up 0.8%. The S&P 500 (Symbol: SPY) closed 0.7% higher and the Nasdaq (Symbol: QQQ) popped 0.4%.
- Big Lots (Symbol: BIG) The retail stock sank 11% after the company declined to give guidance as part of its third-quarter earnings report. Big Lots beat analyst expectations on the top and bottom lines, according to FactSet, but the company said in a release that “it does not have sufficient visibility to provide fourth quarter guidance.” CEO Bruce Thorn also said in a release that he expected business to “moderate” in the fourth quarter due to a longer holiday shopping season.
- DocuSign (Symbol: DOCU) Shares of the electronic signature company popped more than 5% after beating on the top and bottom lines of its quarterly results. DocuSign posted earnings of 22 cents per share on revenue of $383 million. Wall Street expected earnings of 13 cents per share on revenue of $361 million, according to Refinitiv.
- Cloudera (Symbol: CLDR) Shares of the cloud company surged more than 10% following its better-than-expected earnings report. Cloudera earned 15 cents per share, higher than the 9 cents per share forecast by analysts, according to Refinitiv. Revenue came in at $218 million, above the expected $209 million.
- Marvell Technology Group (Symbol: MRVL) Shares dropped almost 5% after the semiconductor company sounded alarms on “a number of industry-wide supply constraints” that it’s experiencing. “These supply challenges are currently limiting our ability to fully satisfy the increase in demand for some of our networking products,” the company said on an earnings call. It reported better-than-expected earnings for the third quarter, however.
- Ollie’s Bargain Outlet (Symbol: OLLI) The retailer dropped more than 10% after the company indicated that same-store-sales for the current quarter could come in below expectations. “Quarter-to-date, our comparable-store sales increases are tracking in the low single-digits,” CEO John Swygert said in a statement. During the most recent quarter, however, the company did beat top- and bottom-line estimates.
- PagerDuty (Symbol: PD) Shares of PagerDuty jumped more than 26% after the software company posted a better-than-feared quarterly report. PagerDuty reported a loss per share of 9 cents vs. a 10-cent loss per share analysts were expecting, according to Refinitiv. Its revenue also came in above estimates.
- Yext (Symbol: YEXT) Shares of the data processing company dropped 18% after Yext said it expected growth to be roughly flat quarter-over-quarter for its fiscal fourth quarter. The company’s fiscal third quarter results did beat Wall Street expectations, according to FactSet. However, MKM Partners said in a note to clients that revenue guidance was “very soft.”
During Premarket hours today – Monday (07.12.2020):
- Alphabet (Symbol: GOOGL) Alphabet’s Google unit has removed several Chrome browser extensions of IAC/Interactive (Symbol: IAC) for what it called “policy violations.” Google told CNBC it is reviewing “enforcement options,” while IAC said it had collaborated closely with Google on an extensive review and approval of its entire Chrome product line last year. IAC shares sank more than 3% 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.