During Market hours Friday — (30.07.2021):
- The Dow (Symbol: DIA) slid 0.38%. The S&P 500 (Symbol: SPY) went down 0.49% and the Nasdaq (Symbol: QQQ) lost 0.52%.
- Amazon (Symbol: AMZN)— Amazon shares fell 7.56% after the tech giant’s second-quarter report missed Wall Street revenue estimates for the first time in three years. The company also gave weak third-quarter guidance. However, Amazon beat on earnings, reporting profit of $15.12 per share versus analysts’ expectation of $12.30 per share, according to Refinitiv. The June quarter reflected the last full quarter of founder Jeff Bezos’ tenure as CEO.
- Procter & Gamble (Symbol: PG)— Shares of the consumer products giant rose 1.97% after the company beat analysts’ expectations in its fiscal fourth-quarter earnings report. P&G reported earnings of $1.13 per share on revenue of $18.95 billion, while analysts expected earnings of $1.08 per share on revenue of $18.41 billion. The company warned commodity and freight cost pressures could weigh on future profits.
- Caterpillar (Symbol: CAT)– The industrial giant’s shares dropped 2.7% even after the company reported better-than-expected profit and revenue in the second quarter. Caterpillar beat estimates by 20 cents with adjusted quarterly earnings of $2.60 per share, according to Refinitiv. The stock has already risen more than 12% this year.
- Chevron (Symbol: CVX), Exxon Mobil (Symbol: XOM)– Chevron and Exxon Mobil each reported quarterly earnings topping analysts’ expectations, but saw their shares edge lower. Shares of Chevron fell 0.74% and Exxon’s stock lost 2.3%.
- Pinterest (Symbol: PINS)— Shares of the social media company tanked 18.2% after Pinterest reported that its number of monthly active members shrank in the second quarter. Analysts from JPMorgan and Evercore ISI downgraded the stock following the report.
- Robinhood (Symbol: HOOD)— Shares of the newly public stock trading app ticked 0.95% higher in its second day of trading on the Nasdaq. Robinhood sunk nearly 8.4% in its IPO on Thursday, after pricing at the low end of its range.
- Ralph Lauren (Symbol: RL)— Retail apparel stocks trended higher after U.S. consumer spending rose 1% in June, more than expected. The University of Michigan’s latest survey of consumers report also showed consumer sentiment edged upward at the end of July. Ralph Lauren’s stock gained 3.05%.
- Capri Holdings (Symbol: CPRI)— Shares of Capri Holdings jumped 12.5% after the company reported better-than-expected quarterly earnings. Capri, whose luxury brands include Michael Kors and Versace, earned an adjusted $1.42 per share for its latest quarter, well above the 80-cent consensus estimate. Revenue also exceeded forecasts, and Capri raised its annual outlook for the second time this year.
- Gilead Sciences (Symbol: GILD)— Gilead’s stock fell 2.2% after the biotechnology company’s quarterly earnings report came in ahead of estimates. On Thursday, the company reported an adjusted quarterly profit of $1.87 per share, 14 cents higher than estimates. However, sales of Gilead’s flagship HIV drugs fell 2% during the quarter.
- Texas Roadhouse (Symbol: TXRH)— Texas Roadhouse shares fell 6.55% despite the restaurant chain beating estimates by 9 cents with quarterly earnings of $1.08 per share. However, the company said it expects food costs to continue to rise. Texas Roadhouse reported earnings on Thursday.
- Restaurant Brands International (Symbol: QSR)— The fast food corporation’s shares jumped 5.07% after it reported quarterly earnings of 77 per share, which beat Wall Street estimates by 16 cents, according to Refinitiv. The Burger King parent said digital sales grew 60% from the same time a year ago and Popeyes was the only one of its three brands to report same-store sales declines.
During Premarket hours today – (Monday – 02.08.2021):
- Square (Symbol: SQ) – The digital payments company agreed to buy Australia’s Afterpay for about $29 billion in stock, representing a roughly 30% premium for Afterpay shareholders. Square shares fell 4.8% in the premarket, but news of the deal boosted shares of U.S.-based payment company Affirm (Symbol: AFRM) by 8.2%.
- Zoom Video (Symbol: ZM) – The video conferencing company agreed to pay $85 million to settle a lawsuit accusing it violated the privacy rights of users. It also agreed to beef up its security practices to prevent so-called “Zoombombing,” where hackers disrupted Zoom meetings.
- General Electric (Symbol: GE) – GE has completed its previously announced one-for-eight reverse stock split and will begin trading on a post-split basis today.
- Moderna (Symbol: MRNA), Pfizer (Symbol: PFE), BioNTech (Symbol: BNTX) – Moderna and Pfizer both raised prices for their Covid-19 vaccines in their latest supply contracts, according to the Financial Times. Additionally, The Wall Street Journal reported that the Food and Drug Administration is under pressure to give both vaccines full approval and that this could happen within the next month for Pfizer and partner BioNTech. Moderna rose 2.5% in the premarket, Pfizer gained 1%, while BioNTech surged 5.1%.
- Foot Locker (Symbol: FL) – The athletic footwear and apparel retailer announced a deal to buy California-based shoe store chain WSS for $750 million and Japan-based streetwear brand Atmos for $360 million.
- Uber Technologies (Symbol: UBER) – Shares of Uber gained 1.1% in premarket trading after Gordon Haskett Research Advisors initiated coverage with a “buy” rating. Haskett called Uber a company that is continually engraining itself in the everyday lives of consumers through its ride-hailing and food delivery services.
- Capri Holdings (Symbol: CPRI) – Capri rose 1.2% in the premarket following an upgrade to “buy” from “neutral” at MKM Partners, which noted a string of better than expected quarters for the company behind brands like Michael Kors and Versace. MKM also cited an overall improvement in the luxury goods sector.
- Discovery (Symbol: DISCA) – Discovery is in informal talks about a potential bid for British state-owned broadcaster Channel 4, according to Britain’s Telegraph newspaper.
- Robinhood (Symbol: HOOD) – More than 300,000 users of the stock trading app bought shares in Robinhood’s initial public offering last week, according to The Wall Street Journal. That represents about 1.3% of the company’s funded account base. Robinhood added 1.5% in premarket trading.
- Parker-Hannifin (Symbol: PH) – The maker of motion control technology and other industrial products is buying British rival Meggitt for about $8.8 billion in cash. Parker-Hannifin shares fell 2.2% in premarket action.
- Li Auto (Symbol: LI) – The China-based electric vehicle maker delivered 8,589 vehicles in July, an increase of 125% compared to July 2020. Li’s U.S.-based shares surged 4.3% in the premarket.
- First Solar (Symbol: FSLR) – The solar power systems maker’s shares gained 2.9% in premarket trading after Susquehanna Financial upgraded the stock to “positive” from “neutral,” based on upbeat management comments on solar module demand and pricing.
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