During Market hours on Friday – 05.02.2021:
- The Dow (Symbol: DIA) went up 0.3%. The S&P 500 (Symbol: SPY) popped 0.4%. and the Nasdaq (Symbol: QQQ) rose 0.3%.
- Ford (Symbol: F) — The legacy automaker’s stock rose 2% after Ford reported better than expected earnings for the fourth quarter and updated investors on its plans for electric and autonomous vehicles. The company said it will spend $29 billion on the new technology through 2025. Revenue for the fourth quarter did miss expectations, however.
- T-Mobile (Symbol: TMUS) — Shares of the telecommunications company fell more than 4% despite a stronger-than-expected fourth quarter report. T-Mobile reported 60 cents in earnings per share and $20.34 billion in revenue. Analysts surveyed by Refinitiv had penciled in 51 cents per share and $19.93 billion in revenue. The company’s guidance for cash flow metrics in 2021 missed expectations, however, according to FactSet.
- Peloton (Symbol: PTON) — Shares of the at-home cycling stock fell more than 5% after the company outlined ongoing supply chain issues amid a surge in demand for its products. Peloton, however, reported sales growth of 128% during the fiscal second quarter, bringing in more than $1 billion in a single quarter for the first time in the company’s history. Peloton earned 18 cents versus the 9-cent profit expected by the Street. Revenue came in a $1.06 billion, also ahead of the expected $1.03 billion, according to Refinitiv.
- Activision Blizzard (Symbol: ATVI) — The video game maker led the S&P 500 on Friday with a nearly 10% gain after it reported fourth-quarter profit and revenues ahead of Wall Street’s expectations. Rob Kostich, president of Activision Publishing, said Thursday evening that its “Call of Duty” franchise, including free-to-play “Warzone,” was a key driver of the company’s business in 2020 and that the game is “going to be front and center for us for a long time.”
- Snap (Symbol: SNAP) — The social media company saw its shares jump more than 9% after beating expectations on earnings, revenue and user growth. Snap posted an adjusted earnings per share of 9 cents, versus 7 cents expected by analysts, according to Refinitiv. However, the company issued a light first-quarter guidance and warned that Apple’s privacy changes could “present another risk of interruption to demand.”
- Estee Lauder (Symbol: EL) — The makeup company saw its shares rise 7.5% in midday trading after it reported a surprise fiscal second-quarter sales gain instead of the decline it had expected. Estee Lauder said stronger Asia-Pacific and online sales drove the revenue gain. Second-quarter sales in the Americas dropped to $1.05 billion from $1.23 billion a year ago.
During Premarket hours today (Monday – 08.02.2021):
- Hasbro (Symbol: HAS) – Hasbro reported quarterly profit of $1.27 per share, 13 cents a share above estimates. Revenue also exceeded forecasts, boosted by ongoing increased interest in its board games and toys amid the pandemic. Hasbro shares rose 2.8% in premarket trading as of 7:36 a.m. ET.
- Energizer Holdings (Symbol: ENR) – The battery maker beat estimates by 28 cents a share, with quarterly earnings of $1.17 per share. Revenue also topped estimates and Energizer increased its full-year forecast, benefiting from increased demand and lower costs. The company’s shares jumped 5.5% in the premarket.
- Westport Fuel Systems (Symbol: WPRT) – Westport is up by about 50% in premarket trading following news that Amazon.com (Symbol: AMZN) has ordered about 1,000 truck engines that run on compressed natural gas for its fleet of delivery vehicles. The engines are made by a joint venture between Vancouver-based Westport and Cummins (Symbol: CMI).
- Tesla (Symbol: TSLA) buys $1.5 billion in bitcoin and plans to start accepting it as payment for products. The company said it bought the bitcoin for “more flexibility to further diversify and maximize returns on our cash,” according to the filing. That would make Tesla the first major automaker to accept bitcoin as payment.
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