During Market hours Friday — (23.07.2021):

  • The Dow (Symbol: DIA) edged 0.66%. The S&P 500 (Symbol: SPY) went up 1.03% and the Nasdaq (Symbol: QQQ) jumped 1.17%.
  • Snap (Symbol: DIA)— Shares of Snap soared 23.82% after better-than-expected second-quarter earnings results. The social media company reported strong growth of users, engagement and ads.
  • Twitter (Symbol: TWTR)— Twitter shares gained 3% after reporting its fastest revenue growth since 2014. The social media platform reported earnings of 20 cents per share, topping analysts’ estimates of 7 cents per share, according to Refinitiv.
  • Intel (Symbol: INTC)– Shares of the chipmaker fell 5.3% after the company reported cautionary guidance on margins in the current quarter. Intel guided to non-GAAP gross margins of 55% in the third quarter, a notable drop from 59.2% in the second quarter. Intel said that the decreased margin was due to supply constraints as well as costs related to building chips with a new process technology.
  • American Express (Symbol: AXP)– Shares of the payments giant rose 1.3% after beating on the top and bottom line of its quarterly results. American Express reported earnings of $2.80 per share on revenue of $10.24 billion. Wall Street expected earnings of $1.66 per share on revenue of $9.58 billion, according to Refinitiv.
  • Honeywell (Symbol: DIA)– Shares of the industrial conglomerate dipped 1.47% despite the company beating estimates during the second quarter. Honeywell earned $2.02 per share excluding items, which was ahead of the expected $1.94, according to estimates from Refinitiv. Revenue came in at $8.81 billion, also ahead of the expected $8.64 billion.
  • Boston Beer (Symbol: SAM)– Boston Beer slid 26% after the company cut its 2021 outlook due to expectations of soft sales in its hard seltzer brands. The company earned $4.75 per share during the quarter, which was short of the expected $6.69 per share, according to estimates from Refinitiv. Revenue also missed expectations.
  • Skechers (Symbol: SKX)— Shares of Skechers gained 5.9% after the footwear company reported revenue of $1.66 billion for the most recent quarter, topping analysts’ projections of $1.5 billion. Skechers also issued strong third-quarter and full-year earnings and revenue guidance.
  • Veoneer (Symbol: VNE)– Veoneer stock soared 56.4% after the Swedish automotive technology company said it would be bought by Canadian auto parts maker Magna International for about $3.8 billion. The deal will help Magna in its efforts to enhance its driver assistance technology business.
  • TAL Education (Symbol: TAL), New Oriental Education and Technology (Symbol: EDU) – U.S.-listed Chinese education stocks plunged after reports of a government crackdown on the sector that included bans on foreign investment. TAL Education shares fell 70.76%, while New Oriental Education and Technology shares dropped by 54.22%.

During Premarket hours today – (Monday – 26.07.2021):

  • Hasbro (Symbol: HAS) – The toymaker reported adjusted quarterly earnings of $1.05 per share, well above the 47 cents consensus estimate, with revenue beating forecasts as well. Hasbro saw its film and tv-related businesses return to growth following the pandemic, and also saw strong results in its Wizards division thanks to the popularity of “Dungeons & Dragons” and “Magic: The Gathering.” Hasbro jumped 2.6% in premarket action.
  • Otis Worldwide (Symbol: OTIS) – The elevator and escalator maker came in 7 cents above estimates with adjusted quarterly earnings of 79 cents per share, while revenue also topped Wall Street forecasts on the strength of strong new equipment sales.
  • Lockheed Martin (Symbol: LMT) – The defense contractor reported GAAP earnings of $6.52 per share, including a 61 cent charge related to performance issues at a classified program. Wall Street’s consensus estimate was $6.53, while revenue beat analyst forecasts. Lockheed Martin also raised its full-year forecast, but shares fell 2.6% in premarket trading.
  • Tencent Music Entertainment (Symbol: TME) – The China-based music platform’s shares tumbled 13.1% in the premarket after regulators barred the company from holding exclusive rights to online music.
  • Philips (Symbol: PHG) – Philips reported better-than-expected earnings for the second quarter, with demand for its hospital equipment still elevated by the Covid-19 pandemic. However, the Dutch health technology also added 250 million euros to a prior provision, related to the recall of breathing devices and ventilators. Philips slid 4.6% in premarket trading.
  • TAL Education Group (Symbol: TAL), Gaotu Techedu (Symbol: GOTU) – The U.S.-listed China education company stocks are under pressure once again with the Chinese private education companies expecting a “material” hit to operations after Beijing announced strict new limitations that bar for-profit tutoring in core school subjects. TAL cratered 23.8% in premarket action while Gaotu tumbled 23.6%.
  • Didi Global (Symbol: DIDI) – Didi was downgraded to “neutral” from “overweight” at Atlantic Equities over uncertainties about the impact of new regulations that the Beijing government may impose on the China-based ride-hailing company. Didi slid 12.3% in the premarket.

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