During Market hours Friday– (Friday – 21.05.2021):
- The Dow (Symbol: DIA) went up 0.15%. The S&P 500 (Symbol: SPY) slid 0.08% and the Nasdaq (Symbol: QQQ) shed 0.55%.
- Boeing (Symbol: BA) — Boeing shares edged roughly 3% higher after Reuters reported the aircraft manufacturer discussed increasing 737 MAX output to as many as 42 jets per month by late 2022. The news comes as Boeing seeks to recuperate from safety issues and the Covid pandemic.
- Deere (Symbol: DE) — Shares of the farm equipment manufacturer rose 1.3% after beating on the top and bottom lines of its quarterly results. Deere reported earnings of $5.68 per share on revenue of $11 billion. Wall Street forecast earnings of $4.52 per share on revenue of $10.44 billion, according to Refinitiv.
- AT&T (Symbol: T) — The telecom company’s share price perked up 1.4%, rising for the second straight day after declining earlier in the week following the announcement of a spinoff deal involving WarnerMedia and Discovery. UBS upgraded the stock to buy from neutral on Friday, saying that the slimmed down company had a clearer pathway to improving cash flow growth.
- VF Corp (Symbol: VFC) — Shares of the apparel name dipped about 9% following the company’s fiscal fourth quarter results. The parent company of North Face, Timberland and Vans reported revenue of $2.58 billion, which was ahead of the $2.5 billion analysts surveyed by Refinitiv were expecting. But bottom-line results missed estimates, with the company earning 27-cents per share excluding items, two cents short of the expected 29-cent per share profit.
- Oatly (Symbol: OTLY) — Shares of Oatly last traded 11.2% higher at $22.46 Friday after the oat milk maker debuted Thursday. Oatly’s IPO was priced at $17 per share, with the first trade at $22.12 and a closing Thursday price of $20.20.
- Deckers (Symbol: DECK) — The retail stock jumped 7.9% after growth from Deckers’ Hoka brand helped the company beat expectations for its fiscal fourth quarter. Deckers reported $1.18 in earnings per share and $561 million in revenue. Analysts surveyed by Refinitiv were looking for 64 cents per share of $437 million of revenue.
- Nvidia (Symbol: NVDA) — Nvidia shares rose 2.6% after the company announced a 4-for-1 stock split, pending stockholder approval. Oppenheimer also reiterated its outperform rating on Nvidia shares. The technology company is set to report earnings Wednesday.
- Palo Alto Networks (Symbol: PANW) — The cybersecurity stock rose 5.8% in midday trading after beating the Street on its top and bottom lines. Palo Alto Networks on Thursday reported earnings of $1.38 per shared, topping analysts’ expectations of $1.28 per share. The company also posted $1.07 billion in quarterly revenue compared with $1.06 billion expected by analysts.
- Virgin Galactic (Symbol: SPCE) — Shares of the space company rallied more than 6% after UBS upgraded the stock to buy from neutral on Friday. The Wall Street firm called for clients to take advantage of an opportunity the firm sees with shares down nearly 70% from their February highs.
During Premarket hours today – (Monday – 24.05.2021):
- Virgin Galactic (Symbol: SPCE) – Virgin Galactic soared 20.5% in premarket trading after it held a successful test flight over the weekend of its SpaceShipTwo craft. Virgin’s first manned space flight in more than two years successfully reached space 50 minutes after takeoff from Las Cruces, New Mexico, before returning to earth.
- Cabot Oil & Gas (Symbol: COG) – Cabot and rival oil and natural gas producer Cimarex Energy (Symbol: XEC) agreed to an all-stock merger of equals valued at $7.35 billion. Cimarex shareholders will receive a little over four shares of Cabot for each share they now own. Cabot shares added 1.9% in premarket trading, while Cimarex stock was up 0.4%.
- Moderna (Symbol: MRNA) – Moderna struck a vaccine production agreement with South Korea’s Samsung Biologics, in a move it said will allow it to provide its Covid-19 vaccine to markets outside the United States beginning in the third quarter. Its shares climbed 1.6% in premarket action.
- AMC Entertainment (Symbol: AMC) – AMC’s largest shareholder, China’s Dalian Wanda Group, sold most of its stake in the movie theater operator over the past week. A Securities and Exchange Commission filing shows Dalian Wanda sold 30.4 million shares for about $427 million. AMC shares rose 1.5% in the premarket.
- HP Inc. (Symbol: HPQ) – The computer and printer maker’s shares rallied 2.3% in premarket action after Citi upgraded it to “buy” from “neutral.” Citi expects HP to beat consensus Street forecasts and raise its outlook when it reports later this week, as it benefits from upbeat fundamentals in the PC space.
- Coinbase (Symbol: COIN) – Coinbase remains on watch as the operator of the largest U.S. cryptocurrency exchange continues to trade in a volatile manner, reflecting wide swings in the digital currencies. It rose 2.3% in premarket trading after a newly initiated “buy” rating at Goldman Sachs, which notes the company’s leading position in a rapidly expanding market.
- Beyond Meat (Symbol: BYND) – The maker of plant-based meat alternatives received a double upgrade at Jefferies to “outperform” from “underperform,” based on an expected recovery in organic growth and rebounding foodservice channels. Beyond Meat gained 3.7% in premarket action.
- Dollar General (Symbol: DG) – The discount retailer’s shares fell 1.4% in the premarket after Bank of America Securities downgraded the stock to “underperform” from “neutral.” The firm notes that Dollar General stock historically has been pressured in times of rising gasoline prices, and that customer traffic could be hurt by rebounding use of gas station convenience stores.
- Palantir Technologies (Symbol: PLTR) – The data analytics platform company won a $32.5 million contract to provide its software to the Air Force and Space Force. Its shares rose 1% in premarket trading.
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