During Market hours on Friday – 05.03.2021:
- The Dow (Symbol: DIA) went up 1.83%. The S&P 500 (Symbol: SPY) rose 1.84%. and the Nasdaq (Symbol: QQQ) rose 1.51%.
- Virgin Galactic (Symbol: SPCE) – The space company’s shares dropped 9.90% after a filing showed chairman Chamath Palihapitya sold his personal holdings of 6.2 million shares for about $213 million. He still owns 15.8 million shares with investment partner Ian Osborne.
- Norwegian Cruise Line Holdings (Symbol: NCLH) — Shares of Norwegian dropped 12.3%, underperforming other struggling cruise names, after the company announced another share offering. The company is selling about 47.6 million shares for $30 per share. Norwegian said it plans to use the funds to repurchase debt.
- Cisco Systems (Symbol: CSCO) — Shares of Cisco Systems rose more than 3.7% after JPMorgan upgraded the stocks to overweight from neutral.
- Nikola (Symbol: NKLA) — Shares of the electric truck maker dropped more than 7% after JPMorgan downgraded the stock to neutral from overweight.
- Gap (Symbol: GPS) — Shares of the apparel retailer jumped more than 7.5% after the company said it’s predicting a bounce back to sales growth in 2021 as more consumers return to stores. Gap reported fourth-quarter sales that came below estimates amid the pandemic, but it swung to a profit, thanks to its efforts to sell more merchandise at full price and progress it made shuttering underperforming stores.
- Oracle (Symbol: ORCL) — The tech stock jumped 6.65% after Barclays upgraded the company to overweight from equal weight, saying it sees “accelerating growth” that will drive “multiple expansion.”
- Hibbett Sports (Symbol: HIBB) — The sports retailer’s stock fell more than 3.9% on the back of mixed fourth-quarter results. The company logged earnings per share of $1.40 on revenue of $367.8 million. Analysts surveyed by FactSet expected earnings per share of $1.37 on revenue of $380.9 million. For 2020, however, Hibbett touted a record year thanks in part to a surge in online sales.
- IMAX Corp. (Symbol: IMAX) — Imax shares jumped 18.7% after the company said it expects better results this year with consumers returning to theatres. The jump comes despite the theatre operator reporting mixed fourth-quarter results, with the company’s losses per share topping a Refinitiv estimate. However, Imax also logged a better-than-expected revenue for the quarter.
During Premarket hours today (Monday – 08.03.2021):
- Apollo Global (Symbol: APO), Athene (Symbol: ATH) – The private-equity firm’s shares gained 8% in premarket trading following news that it will merge with retirement services company Athene in an all-stock transaction that values Athene at about $11 billion. Athene shares surged 19.6%.
- McAfee (Symbol: MCFE) – The cybersecurity company’s shares jumped 10.9% in premarket trading, following news that it sold its enterprise business to privately held Symphony Technology Group for $4 billion in cash.
- Walt Disney (Symbol: DIS) – Disney will be able to reopen Disneyland after more than a year. California officials cleared theme parks and stadiums to open at reduced capacity on April 1. Disney rose 1.5% premarket.
- General Electric (Symbol: GE) – GE is near a $30 billion deal to merge its aircraft leasing business with Ireland’s AerCap (Symbol: AER), according to people familiar with the matter who spoke to The Wall Street Journal.. Its stock jumped 2.3% in the premarket, while AerCap shares surged 12.3%.
- Adaptive Biotechnologies (Symbol: ADPT) – Adaptive Biotechnologies received emergency use authorization from the Food and Drug Administration for its “T-Detect” test which confirms a recent or prior Covid-19 infection in patients. Its shares soared 11.3% in premarket action.
- Bumble (Symbol: BMBL) – The dating service operator received a number of positive analyst recommendations, analysts feel that Bumble is poised for a post-pandemic jump in usage. Despite the positive recommendations, the stock fell 2.8% in premarket trading.
- GameStop (Symbol: GME) – The video game retailer’s stock continues its volatile trading amid more Reddit-related momentum, up 11.4% in the premarket after rising for three straight sessions at the end of last week.
- Xpeng (Symbol: XPEV) – The China-based electric vehicle maker’s shares gained 2.2% in premarket trading after it reported a loss of $120.7 million for its latest quarter, 42% smaller than it had been in the year-ago quarter. Xpeng competitor Nio (Symbol: NIO) fell 3.1% in premarket action after Jeffries cut its price target on the stock to $38.80 from $60.
- Pearson (Symbol: PSON) – Pearson shares jumped 5.9% in premarket action after the educational publishing company announced a strategy update that more directly targets consumers.
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