During Market hours Friday– (Friday – 28.05.2021):
- The Dow (Symbol: DIA) went up 0.30%. The S&P 500 (Symbol: SPY) edged 0.18% and the Nasdaq (Symbol: QQQ) gained 0.32%.
- HP (Symbol: HPQ)— Shares of the hardware tech company dropped 8.94% despite HP beating expectations on the top and bottom lines for the first quarter. Management warned during an investor call that issues in the semiconductor supply chain could limit the company’s ability to meet demand for some products through at least the end of the year.
- Big Lots (Symbol: BIG)– Shares of the discount retailer dropped 5.58% despite reporting a better-than-expected quarter. Big Lots earned $2.62 per share, beating analyst estimates of $1.69 a share. Revenue of $1.63 billion also beat estimates. Comparable-store sales rose 11.3%,
- Salesforce (Symbol: CRM)— Shares of the cloud company popped 5.43% after beating on the top and bottom lines of its quarterly earnings. Salesforce earned $1.21 per share on revenue of $5.96 billion. Analysts expected earnings of 88 cents per share on revenue of $5.89, according to Refinitiv. Salesforce also raised its full year outlook.
- Ulta Beauty (Symbol: ULTA)— Shares of the beauty store chain gained 5.18% midday after reaching a new 52 week high of $351.72 Friday morning. Ulta posted blowout first-quarter financial results after the bell Thursday, reporting earnings of $4.07 per share, more than twice analysts’ estimate of $1.95 per share, according to Refinitiv. The company’s quarterly revenue also beat the Street’s expectations and Ulta raised its full-year guidance.
- Gap (Symbol: GPS)— Gap shares fell 4.84% midday, despite posting better-than-expected first-quarter earnings. The company said it faces supply chain obstacles and difficulties in raw material sourcing due to the proliferation of Covid cases in countries including India.
- Best Buy (Symbol: BBY)— Shares of the electronics company fell 1.61% despite the strong housing market giving a boost to spending on home theaters, appliances and computing. Analysts are cautioning that as the U.S. continues its reopening plan, consumers may be spending more on dining out which could dampen technology spend.
- Hibbett Sports (Symbol: HIBB) – Shares of the footwear company ticked 2.93% lower despite the company’s stronger-than-expected quarterly results. Hibbett reported earnings of $5.00 per share, topping estimates of $2.77 per share, according to Refinitiv. Revenue came in at $507 million, higher than the $413 estimates by Wall Street.
During Premarket hours today – (Tuesday – 01.06.2021):
- AMC Entertainment (Symbol: AMC) – AMC is selling 8.5 million shares to investment firm Mudrick Capital for $230.5 million, following the recent surge in the movie theater operator’s stock price. AMC plans to use the proceeds to pursue the acquisition of theater assets and leases, as well as possible debt reduction. Shares soared 11% in premarket trading.
- Cinemark (Symbol: CNK) – Cinemark is among movie theater chains seeing positive sentiment today, after “A Quiet Place, Part II” topped the weekend box office with more than $58 million in ticket sales. That was the highest weekend total for any movie since the pandemic began. AMC, Cinemark and Regal Cinemas have also lifted all mask mandates for fully vaccinated customers. Cinemark rose 1.8% in the premarket.
- Cloudera (Symbol: CLDR) – Cloudera agreed to be acquired by private-equity firms KKR (Symbol: KKR) and Clayton Dubilier & Rice for $16 per share. The cloud-based data analytics company’s shares surged 24.8% in premarket trading.
- Canopy Growth (Symbol: CGC) – The Canadian cannabis producer reported a 38% jump in revenue during its fiscal fourth quarter, though that increase was slightly smaller than analysts had been anticipating. Canopy Growth cut its quarterly loss by 8% and reiterated that it expects to become profitable during this fiscal year. Its shares rose 1% in premarket trading.
- Boeing (Symbol: BA) – Boeing added 1.8% in the premarket after it was upgraded to “outperform” from “market perform” at Cowen. The firm notes the fast improvement in air traffic demand, resulting in what it expects will be a positive impact on jet demand.
- The Honest Company (Symbol: HNST) – The natural products company is the subject of new – and positive – analyst coverage at multiple Wall Street firms, with Citi and Jefferies rating the stock a “buy” and JPMorgan Chase and Morgan Stanley rating it “overweight.” All mention strong growth prospects, as well as Jessica Alba’s role as founder and brand ambassador. The stock rose 1.4% in the premarket.
- Nio (Symbol: NIO) – Nio delivered 6,711 vehicles in May, an increase of 95% compared to a year ago for the China-based electric vehicle maker. Following those results, Citi upgraded Nio to “buy” from “neutral,” and raised its sales forecast for the company. Rival Chinese electric vehicle company Xpeng (Symbol: XPEV) is also seeing accelerating sales with 5,686 vehicles delivered last month, an increase of 483% from a year earlier. Nio rallied 3.9% in premarket trading, while Xpeng jumped 4.6%.
*Any information contained in this article, including any information contained in external third party links, if any, is solely for informational purposes and does not contain, or should not be construed as containing, investment advice or an investment recommendation, or, an offer of or solicitation for any transactions in financial instruments. Past performance does not guarantee or predict future performance. Colmex Pro Ltd does not take into account your personal investment objectives or financial situation and makes no representation, and assumes no liability to the accuracy or completeness of the information provided, nor for any loss arising from any investment based on presented information.