During Market hours on Friday – 23.04.2021:
- The Dow (Symbol: DIA) went up 0.7%. The S&P 500 (Symbol: SPY) popped 1% and the Nasdaq (Symbol: QQQ) rose 1.3%.
- Kimberly-Clark (Symbol: KMB) – The consumer products stock slumped 5.8% after Kimberly-Clark fell short of analysts’ estimates for the first quarter. The company reported earnings per share of $1.80, 13 cents below what Wall Street expected, according to Refinitiv. Revenue also missed estimates as organic sales in North America declined. Kimberly-Clark also cut its guidance for earnings and revenue.
- Intel (Symbol: INTC) – Shares of the chipmaker dipped more than 5%, following the company’s first quarter results. Intel beat top and bottom line estimates, but results were down year over year. During the period the company earned $1.39 per share on an adjusted basis on $18.57 billion in revenue. Analysts were expecting the company to earn $1.15 per share and report $17.90 billion revenue, according to estimates from Refinitiv.
- Snap (Symbol: SNAP) – Shares of the social media company gained 8% after Snap reported a better-than-expected quarter. Revenue came in at $770 million compared to the expected $744 million, according to a survey of Wall Street analysts by Refinitiv. The company broke even for the quarter when excluding items, while analysts were anticipating a 6-cent per share loss.
- American Express (Symbol: AXP) – The credit card company saw its shares fall 2% following a revenue miss. American Express reported $9.064 billion in sales for the first quarter, lower than the consensus of $9.205 billion. Its earnings per share came in above expectations, however, with $1.05 billion in credit reserve releases.
- Honeywell (Symbol: HON) – The industrial stock fell more than 2% even after a better-than-expected quarterly report. Honeywell beat estimates by 12 cents with adjusted quarterly earnings of $1.92 per share, while sales topped expectations as well. Honeywell’s aerospace segment remain a soft spot as sales in the area declined last quarter.
- SVB Financial (Symbol: SIVB) – The bank stock jumped more than 8% after SVB Financial topped estimates for earnings per share and net interest income for its first quarter. The company reported $10.03 in earnings per share. Analysts surveyed by FactSet were expecting $6.47 per share. SVB also forecast percentage loan growth in the mid-thirties for the full year.
- Skechers (Symbol: SKX) – The sneaker stock surged nearly 17% after beating estimates on the top and bottom lines for the first quarter. Skechers earned 68 cents per share on $1.43 billion of revenue. Analysts surveyed by Refinitiv were expecting 46 cents in earnings per share on $1.34 billion of revenue. The results also sparked an upgrade for the stock from Morgan Stanley.
- Spotify (Symbol: SPOT) – Shares of the audio company jumped more than 7% after Jefferies initiated coverage of the stock with a buy rating. The investment firm said Spotify should be looked as a platform and will benefit from the growth of the creator economy.
- Skyworks Solutions (Symbol: SWKS) – The chipmaker’s stock rose 4% after Skyworks announced a deal to acquire the infrastructure and automotive business of Silicon Labs. The all-cash deal is valued at $2.75 billion.
- Seagate Technology (Symbol: STX) – The data storage stock rose more than 6% after Seagate beat estimates on the top and bottom lines for its fiscal third quarter. The company reported $1.48 in adjusted earnings per share on $2.73 billion of revenue. Analysts surveyed by Refinitiv had penciled in $1.32 in earnings per share on $2.68 billion of revenue.
During Premarket hours today (Monday – 26.04.2021):
- Albertsons (Symbol: ACI) – The grocery store operator came in 9 cents a share ahead of consensus, with quarterly profit of 60 cents per share. Revenue also beat estimates. Albertsons predicted comparable sales for the current fiscal year falling between 6% and 7.5%.
- Otis Worldwide (Symbol: OTIS) – The maker of elevators and escalators beat estimates by 9 cents a share, with quarterly earnings of 72 cents per share. Revenue came in above forecasts as well. Otis also raised its full-year forecast as organic sales continue to improve. Its stock jumped 5.2% in the premarket.
- Check Point Software (Symbol: CHKP) – Check Point reported quarterly earnings of $1.54 per share, 4 cents a share above estimates. Revenue topped Wall Street forecasts amid elevated demand for its cybersecurity solutions as many employees continued to work from home.
- Flagstar Bancorp (Symbol: FBC) – New York Community Bancorp (NYCB) will acquire its fellow regional bank in an all-stock deal valued at about $2.6 billion. Michigan-based Flagstar saw its stock surge 3.6% in the premarket.
- Pearson (Symbol: PSO) – Pearson reported better-than-expected profit for its latest quarter, with the online education company seeing improved sales of digital course materials and eBooks.
- Philips (Symbol: PHG) – Philips lifted its full-year forecast after the Dutch health equipment maker reported better-than-expected profit and revenue for its latest quarter. Philips also said it expected growth in its Connected Care unit to slow this year, and put aside 250 million euros for possible risks related to its respiratory care devices.
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