During Market hours Friday– (Friday – 14.05.2021):
- The Dow (Symbol: DIA) went up 1.12%. The S&P 500 (Symbol: SPY) gained 1.54% and the Nasdaq (Symbol: QQQ) popped 2.21%.
- Disney (Symbol: DIS)— The media giant’s share price sank 2.6% after it missed revenue and streaming subscriber estimates. Disney earnings of 79 cents per share, well above the 27 cents per share expected by Wall Street, according to Refinitiv. The company made $15.61 billion in revenue, missing an estimate of $15.87 billion. Disney missed on subscriber estimates for Disney+, coming in at 103.6 million paid subscribers. It was expected to post 109 million.
- DoorDash (Symbol: DASH)– Shares of the food delivery company surged 22.15% after the firm boosted its outlook for 2021. DoorDash raised its annual forecast for order value to between $35 billion and $38 billion, up from a prior range of $30 billion to $33 billion. The company said that delivery drivers were in short supply, but consumer demand was stronger than expected.
- Airbnb (Symbol: ABNB)– Shares of the vacation rental company jumped 4% after the company reported better-than-expected quarterly revenue. The company reported first-quarter revenue of $887 million, topping a Refinitiv projection of $714 million. While Airbnb still reported a net loss for the quarter, it also showed year-over-year improvement in a key earnings metric.
- Snowflake (Symbol: SNOW)— The software company’s shares popped 11.55% after Goldman Sachs upgraded it to buy from neutral, saying the world was still in the “relatively early innings” of the shift to the cloud, giving Snowflake significant upside.
- Churchill Downs (Symbol: CHDN)— Shares of the casino and gaming company jumped 4.73% after Jefferies upgraded the stock to buy from hold. The firm said that Churchill Downs was poised for growth in multiple parts of its business and that the stock’s recent weakness was not tied to fundamentals.
- Plantronics (Symbol: PLT)— Shares of the company formerly known as Plantronics, now known as Poly, swooned 20.4% after the audio and video products maker blamed the semiconductor shortage for a weaker financial forecast. It sees adjusted first-quarter earnings of 35 cents to 55 cents a share on revenue of $410 million to $450 million, below what analysts had hoped.
- Unity Software (Symbol: U)— The tech stock jumped 8.1% after Oppenheimer upgraded the stock to outperform from perform. The investment firm said in a note that Unity’s price was attractive after a sharp decline in recent months and that Apple’s new privacy policy would not be a long-term issue for Unity’s gaming business.
- Fisker (Symbol: FSR)— Fisker shares popped 5.5% after it said it has signed agreements with Hon Hai Technology Group, also known as Foxconn, to develop a new breakthrough electric vehicle. Fisker said the new segment vehicle will be jointly developed and sold into international markets including North America, India and China.
- Aurora Cannabis (Symbol: ACB)— Shares of the cannabis company dropped 6.28% after it reported lower-than-expected fiscal third quarter revenue, hit by pandemic-related restrictions in Canada.
During Premarket hours today – (Monday – 17.05.2021):
- AT&T (Symbol: T), Discovery (Symbol: DISCA) – AT&T and Discovery announced a deal to combine Discovery with AT&T’s WarnerMedia unit. The combination would be co-owned by current shareholders of both companies, and would create a new stronger streaming video challenger to the likes of Netflix (Symbol: NFLX) and Walt Disney (Symbol: DIS). AT&T jumped 4.9% in the premarket and Discovery shares surged 17%.
- ViacomCBS (Symbol: VIAC) – ViacomCBS resolved a dispute with former CEO Les Moonves, and will keep the $120 million in severance it had withheld after Moonves resigned amid accusations of sexual harassment which he has denied. Viacom shares rallied 3.8% in premarket trading.
- Tesla (Symbol: TSLA) – Tesla CEO Elon Musk said the company has not sold any bitcoin after such speculation was fueled by Tesla’s decision to stop taking bitcoin for automobile purchases. Tesla fell 1.1% in premarket trading.
- MicroStrategy (Symbol: MSTR) – MicroStrategy tumbled 7% in premarket action amid a slide in the price of bitcoin to the lowest level in more than three months. The business analytics company holds roughly $5 billion worth of bitcoin. The cryptocurrency’s volatility is also impacting shares of Coinbase (Symbol: COIN), the largest U.S. cryptocurrency exchange, which fell 3.5%.
- Texas Roadhouse (Symbol: TXRH) – The restaurant chain’s shares rose 1.4% in the premarket after Deutsche Bank upgraded the stock to “buy” from “hold.” Deutsche Bank said recent trends point to the possibility that current revenue assumptions may be conservative, and it also points to the recent pullback in the stock’s price.
- Cummins (Symbol: CMI) – The maker of engines and other power solutions saw its stock rise 1.4% in the premarket after Bank of America Securities upgraded it to “buy” from “neutral,” saying it sees continued outperformance ahead amid an upbeat market for farm machinery and equipment rental.
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