During Market hours Friday — (Friday – 27.08.2021):
- The Dow (Symbol: DIA) gained 0.68%. The S&P 500 (Symbol: SPY) raised 0.89% and the Nasdaq (Symbol: QQQ) went up 0.97%.
- Peloton (Symbol: PTON)— Shares of the cycle maker tumbled 8.55% after a disappointing quarterly report. The company reported revenue growth in its fiscal fourth quarter that slowed down drastically, while posting a wider-than-expected loss as costs from its treadmill recall mounted. Peloton also offered up an underwhelming revenue outlook for its first quarter.
- Dell Technologies (Symbol: DELL)— Shares of the company ticked 4.5% lower despite its better-than-expected quarterly results. Dell reported adjusted quarterly earnings of $2.24 per share, 21 cents above estimates, with revenue also topping analyst projections.
- HP (Symbol: HPQ)— Shares of the tech hardware company slipped 0.6% after the technology company’s quarterly revenue missed expectations. Morgan Stanley also downgraded HP to equal weight from overweight. The firm said in a note to clients that the near-term outlook for HP’s products could hold back the stock.
- Gap (Symbol: GPS)— Gap shares added 0.6% following an earnings beat. The apparel retailer reported quarterly adjusted earnings of 70 cents per share on revenue of $4.21 billion. Analysts expected earnings of 46 cents per share on revenue of $4.13 billion, according to Refinitiv.
- Workday (Symbol: WDAY)— Shares of Workday soared 9.1% after the software company beat on the top and bottom lines of its quarterly results. Workday reported earnings of $1.23 per share on revenue of $1.26 billion. Wall Street expected earnings of 78 cents per share on revenue of $1.24 billion, according to Refinitiv.
- Big Lots (Symbol: BIG)— Shares of Big Lots dropped 4.85% after the discount retailer missed Wall Street estimates for its latest quarter. Big Lots reported earnings of $1.09 per share, 3 cents shy of consensus analyst expectations, according to Refinitiv. The company also missed revenue estimates. Big Lots’ comparable store sales slid a greater-than-expected 13.2%.
- Hibbett (Symbol: HIBB)— Hibbett shares sunk 9.2% even after the athletic apparel retailer reported better-than-expected quarterly revenue and earnings. Hibbett earned $2.86 per share, almost double the $1.44 Refinitiv consensus estimate. The company also raised its full-year forecast.
- Marvell Technology (Symbol: MRVL)— Shares of Marvell Technology fell 3% despite an earnings beat. The company reported adjusted earnings of 34 cents per share, while analysts projected earnings of 31 cents per share, according to Refinitiv. Marvell Technology’s second-quarter revenue was in line with Wall Street estimates.
- Ollie’s Bargain Outlet (Symbol: OLLI)— Ollie’s shares sunk 6.7% following quarterly results that fell short of expectations. Ollie’s reported adjusted quarterly earnings of 52 cents per share on revenue of $416 million. Analysts expected earnings of 55 cents per share on $436 million, according to Refinitiv.
- VMWare (Symbol: VMW)— VMWare shares fell 6.7% even after the software company’s quarterly earnings report beat on top and bottom line estimates. The company reported adjusted quarterly earnings of $1.75 per share, topping the $1.64 consensus estimate, while revenue was slightly above Wall Street forecasts. However, cloud business revenue fell short of some analysts’ forecasts.
- AutoZone (Symbol: AZO), Advance Auto Parts (Symbol: AAP)— Shares of AutoZone and Advance Auto Parts retreated more than 2% each after Morgan Stanley downgraded the stocks to equal weight. A “mid-cycle” period should lead to less upside for retail stocks, the firm said.
During Premarket hours today – (Monday – 30.08.2021):
- Affirm (Symbol: AFRM) – Affirm rocketed 41.2% in premarket trading after the digital payments specialist announced a partnership with Amazon.com (Symbol: AMZN) that will allow Amazon customers to pay over time for purchases of $50 or more.
- Moderna (Symbol: MRNA) – Moderna fell 2.7% in the premarket after 1 million more Covid-19 vaccine doses were pulled from circulation in Japan on contamination concerns. An initial withdrawal of 1.63 million doses had taken place last week after foreign substances were found in some batches, with contamination now linked to two deaths. Spain’s Rovi, which bottles the vaccines for markets outside the U.S., said it is investigating the issue.
- Globalstar (Symbol: GSAT) – The satellite services provider soared 41.3% higher in premarket action following a report in AppleInsider that the iPhone 13 will have the ability to utilize satellite communications.
- Li Auto (Symbol: LI) – Li Auto reported a smaller-than-expected loss and revenue that exceeded analysts’ forecasts for its latest quarter. The China-based electric vehicle maker also said it delivered 17,575 vehicles during the quarter, a 166% increase over a year earlier. Li Auto shares gained 2.3% in premarket trading.
- Hill-Rom (Symbol: HRC) – Hill-Rom is in advanced talks to be acquired by health-care products maker Baxter International (Symbol: BAX), according to people familiar with the matter who spoke to The Wall Street Journal. The potential deal for the medical equipment maker is about $10 billion or $150 per share, compared to Hill-Rom’s Friday close of $132.90. Hill-Rom rallied 8.7% in the premarket.
- Weber (Symbol: WEBR) – The grill maker, which went public earlier this month, is up 3.8% in premarket trading after Goldman Sachs initiated coverage with a “buy” rating and J.P. Morgan Securities rated the stock “overweight.” The firms cited Weber’s leading position in the global market as well as pricing power.
- Levi Strauss (Symbol: LEVI) – The apparel maker’s shares rose 1% in the premarket after Wells Fargo initiated coverage with an “overweight rating.” Wells Fargo points to a consensus that a new denim cycle has taken hold, and the company’s position as one of the higher quality global brands.
- Catalent (Symbol: CTLT) – The contract drug manufacturer struck a deal to buy nutritional supplement maker Bettera from private-equity firm Highlander partners for $1 billion. Separately, Catalent reported better-than-expected earnings and revenue for its fiscal fourth quarter, and the stock jumped 2.2% in the premarket.
- Support.com (Symbol: SPRT) – Support.com surged 46.2% in the premarket after the provider of technical support saw its stock rise for the past seven sessions in a row and jump 223% over that stretch. There has been no news of significance from the company over that stretch.
- Generac (Symbol: GNRC) – Generac remains on watch after rising for the past eight sessions in a row, with the maker of backup generators benefiting from demand increases stemming from weather-related disruptions. The stock has jumped 12.1% during the win streak.
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