During Premarket hours today (Tuesday – 22.02.2022):
- Home Depot (Symbol: HD) — The home improvement retailer’s stock rose 1% in the premarket after its quarterly profit and revenue beat Wall Street forecasts. Home Depot earned $3.21 per share, 3 cents above estimates, and comparable-store sales also beat estimates. Home Depot also announced a 15% dividend increase.
- Macy’s (Symbol: M) — Macy’s beat estimates by 45 cents with adjusted quarterly earnings of $2.45 per share, and the retailer’s revenue beat estimates as well. Macy’s also authorized a new $2 billion share buyback program and announced a 5% dividend increase. The stock rallied 7.9% in premarket action.
- Houghton Mifflin (Symbol: HMHC) — The publishing company agreed to be bought by private equity firm Veritas Capital for $21 per share in cash or about $2.8 billion. The stock surged 14.9% in premarket trading.
- SoFi Technologies (Symbol: SOFI) — The financial technology firm announced a deal to buy banking software maker Technisys for about $1.1 billion stock, saying the addition will generate up to $800 million in additional revenue through 2025. SoFi fell 2.7% in premarket action.
- McDonald’s (Symbol: MCD) — Investor Carl Icahn launched a proxy fight for two board seats at the restaurant chain, as part of his push for more ethical treatment of pigs by McDonald’s suppliers. McDonald’s fell 1% in the premarket.
- DraftKings (Symbol: DKNG) — The sports betting company’s stock slid 6% in the premarket after Wells Fargo downgraded it to “equal weight” from “overweight” and cut the price target to $19 per share from $41. Wells Fargo is concerned with the company’s path to profitability given the pace of the increase in expenses. DraftKings has fallen for the past three sessions, including a 21.6% plunge Friday following its quarterly report.
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