During Market hours on Friday – 26.02.2021:
- The Dow (Symbol: DIA) went down 1.4%. The S&P 500 (Symbol: SPY) slid 0.5%. and the Nasdaq (Symbol: QQQ) rose 0.4%.
- Etsy (Symbol: ETSY) — Shares of the e-commerce company popped 11% on Friday after beating on the top and bottom lines of its quarterly results. Etsy earned $1.08 per share for its latest quarter, well above the 59 cent consensus estimate, while the online crafts marketplace also saw revenue beat Wall Street forecasts. “2020 was an inflection point in history for e-commerce and for Etsy,” the company said in a statement.
- Apple (Symbol: AAPL), Facebook (Symbol: FB), Microsoft (Symbol: MSFT) – Big Tech stocks lifted the broader market higher as they rebounded from sharp losses in the previous session amid soaring bond yields. Shares of Apple and Microsoft gained more than 1% each, while Facebook jumped 1.2%. Amazon and Alphabet also climbed more than 1%.
- Virgin Galactic (Symbol: SPCE) — Shares of the commercial spaceflight company dropped 11% after announcing its next spaceflight test is delayed to May and pushing the beginning of flying passengers to early 2022. Virgin Galactic was targeting as early as Feb. 13 for the spaceflight test but delayed it to May due to further corrective work needed. The space tourism company reported an adjusted EBITDA loss of $59.5 million, down slightly from a loss of $66 million in the previous quarter.
- Rocket Companies (Symbol: RKT) — The parent of Quicken Loans saw its stock rally about 9% in midday trading after it posted fourth-quarter profit of $1.09 per share, compared to a consensus estimate of 87 cents a share. Revenue also topped forecasts. Rocket completed a year of record mortgage volume, and announced it would pay a special dividend of $1.11 per share.
- DraftKings (Symbol: DKNG) — Shares of the online sports gambling company rose nearly 7% around noon after it both reported stronger-than-expected quarterly sales and hiked its full-year revenue forecast. DraftKings said users are more frequently access its platforms thanks to marketing campaigns and continued legalization of sports gambling.
- Airbnb (Symbol: ABNB) — Shares of the home rental company jumped more than 13% after Airbnb posted its first quarterly update as a publicly traded company. Airbnb reported a $3.89 billion loss, although revenue did beat expectations. Sales came in at $859 million compared to the $748 million expected by Wall Street, according to estimates from Refinitiv.
- DoorDash (Symbol: DASH) — Shares of the food delivery service slid more than 1% following the company’s quarterly results. DoorDash generated $970 million in revenue, which was ahead of the Street consensus estimate for $938 million, according to a Refinitiv survey of analysts. The quarterly report was the company’s first after DoorDash went public in December.
- Foot Locker (Symbol: FL) — Shares of the shoe retailer fell more than 8% on Friday after revenue for the company’s fiscal fourth-quarter came in below expectations. Foot Locker’s comparable store sales were down more than 2% compared with the year ago period. The company’s earnings per share did beat expectations, according to estimates compiled by Refinitiv.
- Salesforce (Symbol: CRM) — The software giant saw its stock dip more than 6% despite beating expectations on the top and bottom lines for its fourth quarter. The company reported $1.04 in adjusted earnings per share on $5.82 billion in revenue. Analysts surveyed by Refinitiv had penciled in 75 cents per share and $5.68 billion in revenue. The company said its adjusted operating margin for the quarter was 17.5%, down slightly from the full-year average.
During Premarket hours today (Monday – 01.03.2021):
- Hilton Grand Vacations (Symbol: HGV) – The timeshare company posted a wider-than-expected loss for its latest quarter, while revenue was also below Wall Street forecasts. Hilton Grand Vacations said the pandemic has created a challenging environment but said 85% of its properties are now open and operating.
- NRG Energy (Symbol: NRG) – The energy provider reported better-than-expected profit and revenue for its latest quarter, and also said the financial impact of the extreme weather in Texas is expected to be within NRG’s current guidance range
- Johnson & Johnson (Symbol: JNJ) – J&J rose 2.1% in the premarket after its Covid-19 vaccine received emergency use authorization from the Food and Drug Administration over the weekend, followed by an endorsement from the Centers for Disease Control and Prevention. Administration officials say deliveries of the vaccine should begin Tuesday.
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