During Market hours on Friday – 12.02.2021:
- The Dow (Symbol: DIA) went up 0.1%. The S&P 500 (Symbol: SPY) popped 0.5% and the Nasdaq (Symbol: QQQ) rose 0.5%
- Walt Disney Company (Symbol: DIS) — Shares of the entertainment giant slipped by about 1.7% despite Disney reporting better-than-expected results for its fiscal first quarter. The company reported earnings of 32 cents per share on $16.25 billion of revenue. The company now has nearly 95 million subscribers for Disney+, but revenue at its parks segment was down 53% year over year.
- Newell Brands (Symbol: NWL) — Newell, which owns brands including Rubbermaid and Sharpie, saw its shares drop 7.1% after it reported quarterly profit of 56 cents per share, beating estimates by 8 cents a share. Investors seemed to sour on the company’s full-year earnings forecast of $1.55 to $1.65 per share, compared with a consensus estimate of $1.68 a share, amid softness in its writing business.
- Coherent (Symbol: COHR) — Shares of Coherent were up about 14% on news electronic components maker II-VI is planning a $6.5 billion bid for the laser maker, according to the Wall Street Journal. The bid is worth $260 per share in cash and stock, higher than the $226 per share agreement that Coherent already has with Lumentum Holdings as well as a $240 per share bid from MKS Instruments.
- Expedia (Symbol: EXPE) — The travel stock fell more than 2.2% after a disappointing fourth-quarter report. Expedia reported an adjusted loss per share of $2.64 and $920 million in revenue. Analysts surveyed by Refinitiv were expecting a loss of $1.97 per share and $1.12 billion in revenue. Gross bookings were just a third of what they were for the same quarter in 2019.
- Affirm (Symbol: AFRM) — The fintech stock dropped 10% after the newly public company reported quarterly revenue that topped expectations. Affirm hauled in $204 million in sales for its fiscal second quarter, while analysts polled by Refinitiv had forecast $189.2 million. It wasn’t clear if Affirm’s earnings per share were comparable to a Refinitiv estimate. The stock has rallied about 40% since Affirm went public last month.
- AstraZeneca (Symbol: AZN) — AstraZeneca said it expects to double monthly COVID-19 vaccine production by April after fixing issues with its manufacturing, sending the biotech stock up nearly 3%. The move would bring monthly production to 200 million doses.
- Bausch Health (Symbol: BHC) — Bausch jumped about 4% following news that billionaire investor Carl Icahn has taken a 7.8% stake in the company, according to an SEC filing. Icahn, known for trying to instigate change at the companies in which he invests, plans to give input on the drug company’s strategies and possibly seek board representation.
During Premarket hours today – (Tuesday – 16.02.2021):
- Palantir Technologies (Symbol: PLTR) – The business analytics company’s stock sank 6.2% in the premarket after reporting a quarterly loss, although revenue did top Street estimates on a jump in new contracts.
- AutoNation (Symbol: AN) – The auto retailer beat estimates by 42 cents a share, with quarterly profit of $2.43 per share. Revenue also came in above estimates as demand remains high amid tight inventories.
- CVS Health (Symbol: CVS) – CVS reported quarterly earnings of $1.30 per share, 6 cents a share above estimates. Revenue also topped Wall Street forecasts, helped in part by Covid-19 testing and vaccinations at its pharmacies.
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