During Market hours on Friday – 06.05.2022

  • The Dow (Symbol: DIA) went down 0.35%. The S&P 500 (Symbol: SPY) lost 0.60% and the Nasdaq (Symbol: QQQ) dropped 1.20%.
  • Peloton (Symbol: PTON) — Shares of Peloton dropped 7.7% after The Wall Street Journal reported the at-home fitness company is looking for potential investors to take a minority stake in it in the realm of 15% to 20%. The company has struggled with post-pandemic demand on top of brand issues, supply chain challenges and a change in CEO. It will report quarterly results next week.
  • Monster Beverage (Symbol: MNST) — Shares rose 4.4% after Monster Beverage’s first-quarter revenue beat Wall Street estimates. Monster reported revenue of $1.52 billion versus $1.43 billion expected, according to StreetAccount. First-quarter earnings per share came in slightly weaker than expected.
  • Cigna (Symbol: CI) — Shares jumped 5.9% after the insurance company’s quarterly earnings beat expectations. Cigna reported earnings of $6.01 per share, compared with a $5.18 forecasted by analysts surveyed by Refinitiv. The insurance company reported revenue of $44.1 billion, compared to consensus estimates of $43.4 billion. Cigna reported growth in its pharmacy benefits management business.
  • NRG Energy (Symbol: NRG) — Shares jumped 9.8% after the company released its latest quarterly figures. NRG Energy reported a quarterly profit of $7.17 per share on revenue of $7.9 billion. However, it wasn’t clear if those numbers were comparable with FactSet estimates.
  • Under Armour (Symbol: UA) — Shares of the sneaker and apparel company fell 25.9% after Under Armour reported an unexpected loss and shared revenue that fell below analyst estimates, as it attempts to overcome global supply chain problems. Under Armour also issued a disappointing outlook for 2023 fiscal year.
  • Illumina (Symbol: ILMN) — Shares plunged 14.6% despite the biotechnology company reporting better-than-expected results for the previous quarter. Illumina reported a quarterly profit of $1.07 per share on revenues of $1.223 billion. Analysts polled by StreetAccount were expecting earnings of 90 cents per share on revenues of $1.219 billion.
  • News Corporation (Symbol: NWS) — The media company’s stock tumbled 13.7% following the release of quarterly results that were mostly in line with expectations. News Corporation reported a quarterly profit of 16 cents per share on revenues of $2.5 billion. Analysts were expecting earnings of 15 cents per share on revenues of $2.5 billion, according to consensus estimates from StreetAccount.
  • DraftKings (Symbol: DKNG) — Shares dropped 8.9%, giving back a gain from earlier in the day. DraftKings reported a loss of $1.10 per share on revenues of $417 million. Analysts surveyed by Refinitiv were expecting a loss of $1.15 per share on revenues of $412 million. DraftKings also raised its full-year revenue guidance in its quarterly report.

During Premarket hours today (Monday – 09.05.2022):

  • Palantir Technologies (Symbol: PLTR) – The data analytics software company’s shares plunged 15.1% in premarket trading after posting a mixed quarter. Palantir reported profit of 2 cents per share, compared to a 4 cents a share consensus estimate. Revenue was higher than expected, however, despite slowing growth in its government business. Palantir also issued a softer-than-expected current-quarter revenue forecast.
  • Rivian (Symbol: RIVN) – Ford Motor (F) is selling 8 million of its 102 million share stake in the electric vehicle maker, according to sources who spoke to CNBC’s David Faber. The move comes as the insider lockup period for selling the stock expires. Rivian shares plummeted 15.6% in the premarket.
  • Uber Technologies (Symbol: UBER) – Uber plans to slash spending on marketing and incentives and be deliberate about adding workers, according to a staff email obtained by CNBC. CEO Dara Khosrowshahi said the ride-hailing and food delivery company said Uber needs to become a leaner business to address a “seismic shift” in investor sentiment. Uber fell 3% in the premarket.
  • Coty (Symbol: COTY) – Coty reported quarterly earnings of 3 cents per share, beating the penny a share consensus estimate. Revenue topped forecasts as well and the cosmetics company raised its full-year outlook on strong demand for its products. The stock rose 1.7% in the premarket.
  • Energizer (Symbol: ENR) – The battery maker beat estimates by 9 cents a share, with quarterly profit of 47 cents per share. Revenue topped Street forecasts as Energizer raised prices. Its shares gained 2.3% in the premarket.
  • Elanco Animal Health (Symbol: ELAN) – Elanco fell 4.3% in premarket action after the animal health products company lowered its full-year outlook, reflecting the impact of a stronger U.S. dollar. Elanco reported slightly better-than-expected profit and revenue for its most recent quarter.
  • Shell (Symbol: SHEL) – Third Point’s Daniel Loeb told investors he has added to his stake in energy giant Shell, according to a letter seen by Reuters. Loeb said in the letter that he had held “constructive” talks with management, the board and shareholders about his call for the company to split itself up. Shell shares fell 2.6% in premarket action.

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