During Market hours yesterday – (Monday – 03.05.2021):
- The Dow (Symbol: DIA) went up 0.64%. The S&P 500 (Symbol: SPY) rose 0.22% and the Nasdaq (Symbol: QQQ) sunk 0.53%.
- Estee Lauder (Symbol: EL)— Shares of the beauty company fell more than 7% on Monday after missing analysts’ revenue estimates for the first quarter. Estee Lauder reported earnings per share of $1.62 on revenue of $3.86 billion. Wall Street expected earnings per share of $1.32 on revenue of $3.94 billion, according to Refinitiv.
- DraftKings (Symbol: DKNG)— The sports betting stock rose 0.74% on Monday following an upgrade to outperform from market perform by Cowen. The investment firm said in a note to clients that the stock’s recent slide represented a buying opportunity, considering the improving outlook for sports betting and DraftKings’ market share.
- Berkshire Hathaway (Symbol: BRK.A)— Berkshire shares added 1.8% and hit a record in intraday trading on Monday following its annual meeting over the weekend. CEO Warren Buffett said the massive conglomerate’s earnings are recovering from the effects of the Covid-19 pandemic, and the company is also extending its stock buybacks by an additional $6.6 billion.
- Verizon (Symbol: VZ)— Shares of Verizon rose 0.22% after the telecom giant said it will sell its media group to private equity firm Apollo Global Management for $5 billion. The sale allows Verizon to offload properties from the former internet empires of AOL and Yahoo.
- Baker Hughes (Symbol: BKR)— Baker Hughes popped 8% after Barclays upgraded the stock and said that it’s now the right time to bet on oilfield services and equipment stocks. The brokerage upgraded Baker Hughes to overweight from equal weight and hiked its price target to $28 from $25.
- Gap (Symbol: GPS)— Shares of Gap jumped 7.16% amid strength in the retail sector. The SPDR S&P Retail ETF (Symbol: XRT), which tracks the space, gained 2.11% Dillard’s (Symbol: DDS) rose nearly 10%, while Foot Locker (Symbol: FL), Urban Outfitters (Symbol: URBN) and Kohl’s (Symbol: KKS) all gained over 5%. Macy’s (Symbol: M) rose 8.02%.
During Premarket hours today – (Tuesday – 04.05.2021):
- CVS Health (Symbol: CVS) – The drug store and pharmacy benefits management company earned $2.04 per share in the first quarter, above the consensus estimate of $1.72 a share. Revenue also came in above Wall Street forecasts. CVS saw higher sales at its stores, with customer traffic spurred by Covid-19 vaccination visits. CVS also raised its full-year forecast, and its shares rose 3% in the premarket.
- iRobot (Symbol: IRBT) – iRobot earned 41 cents per share during the first quarter, compared to a consensus estimate of 9 cents a share. The maker of the Roomba robotic vacuum’s revenue exceeded estimates as well, however the stock tumbled 8.6% in the premarket on concerns about shipping and component costs.
- Pfizer (Symbol: PFE) – The drugmaker beat estimates by 16 cents a share, with quarterly profit of 93 cents per share. Revenue also came in above forecasts and the company raised its full-year guidance as sales of its Covid-19 vaccine continue to be stronger than expected. Additionally, the Food and Drug Administration is set to authorize the vaccine for use in adolescents aged 12-15, according to federal officials familiar with the plan who spoke to The New York Times. Pfizer shares added 1.3% in premarket trading.
- Vaxart (Symbol: VXRT) – Vaxart surged 18.6% in premarket trading after it reported positive results in a phase 1 trial of its oral Covid-19 vaccine. Vaxart said the vaccine could be just as effective as the injected vaccines developed by Pfizer and Moderna .
- Under Armour (Symbol: UAA) – The athletic apparel maker’s stock climbed 2.8% in premarket action after it reported first-quarter profit of 16 cents per share, well above the 3 cents a share consensus estimate. Revenue also topped analysts’ forecasts and Under Armour raised its full-year outlook as reopening markets spur demand for shoes and apparel. Separately, the company agreed to pay $9 million to settle a Securities and Exchange Commission probe into its accounting.
- XPO Logistics (Symbol: XPO) – XPO reported quarterly earnings of $1.46 per share, well above the consensus estimate of 97 cents a share. The transportation company’s revenue was also above Wall Street forecasts, reaching record levels in sharp contrast to usual seasonal trends. XPO also raised its full-year forecast, but its shares lost 1.2% in premarket action.
- Avis Budget (Symbol: CAR) – Avis Budget lost 46 cents per share for the first quarter, smaller than the loss of $2.16 a share predicted by analysts. The car rental company’s revenue beat Wall Street forecasts as well amid a jump in demand and more solid pricing for car rentals. The stock fell 1.4% in premarket action despite the upbeat results.
- SmileDirectClub (Symbol: SDC) – SmileDirectClub said its current-quarter sales will be hurt by an April cyberattack, costing it between $10 million and $15 million. The maker of teeth-straightening systems said it successfully blocked the attack and restored its systems to normal. The stock lost 9.2% in the premarket.
- Domtar (Symbol: UFS) – Domtar shares soared 16.1% in premarket action following a Bloomberg report that said Canada’s Paper Excellence is exploring a deal to buy its U.S.-based paper and packaging rival. A deal could value Domtar in the mid-$50 per share range, compared to Monday’s close of $40.52 a share.
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