During Market hours yesterday — (Monday – 10.05.2021):

  • The Dow (Symbol: DIA) went down 0.04%. The S&P 500 (Symbol: SPY) slid 1% and the Nasdaq (Symbol: QQQ) sank 2.5%.
  • Marriott (Symbol: MAR) — The hotel stock fell more than 4% after the company reported a revenue miss. Marriott did beat earnings estimates, however, with an adjusted 10 cents per share for the first quarter, 3 cents above Refinitiv consensus estimate.
  • US Foods (Symbol: USFD) — The food distributor’s stock fell more than 2% even after the company posted better-than-expected quarterly earnings and revenue. US Foods beat estimates by 7 cents with adjusted quarterly earnings of 12 cents per share amid lower expenses, according to Refinitiv.
  • Ark Innovation (Symbol: ARKK) — Shares of Cathie Wood’s flagship ETF fell 5% around midday on Monday amid further selling pressure in innovation stocks. Her fund is now trading below its low of the year from February. Tesla fell 4.2% and Teladoc Health dropped 5.6%. Square and Roku fell 6.6% and 2.1%, respectively. DraftKings declined 5.2% and Zillow lost 3.8%.
  • Simon Property Group (Symbol: SPG) — Shares of the mall operator rose about 1.7% on news that it and Authentic Brands are purchasing retailer Eddie Bauer from private equity firm Golden Gate Capital. Eddie Bauer will join several other brand names owned by the two companies, including Aeropostale, Forever 21 and Brooks Brothers.
  • Box (Symbol: INTC) — The tech stock bounced 6% after activist investment firm Starboard Value said it would nominate more directors for Box’s board. Box’s current board said in a statement that it does not believe “the changes to the Board proposed by Starboard are warranted or in the best interests of all stockholders.”
  • Intel (Symbol: INTC) — Shares of the chipmaker dipped 3% after Atlantic Equities downgraded the stock to underweight. The research firm said in a note to clients that Intel’s plan to expand its manufacturing base wouldn’t help it fend off rival Advanced Micro Devices.
  • Coty (Symbol: COTY) — The beauty stock fell nearly 13% after Coty’s third-quarter results failed to top expectations. Coty’s reported that it broke even on an adjusted earnings per share basis and generated $1.03 billion in revenue. Analysts surveyed by Refinitiv expected earnings of 1 cent per share on $1.03 billion in revenue. The company’s revenue in the Americas was lower than expected, according to FactSet.

During Premarket hours today – (Tuesday – 11.05.2021):

  • Virgin Galactic (Symbol: SPCE) – Virgin Galactic shares tanked 19.9% in premarket action. The company lost 55 cents per share for its latest quarter, more than double the 27 cents a share loss that analysts were anticipating. Billionaire Richard Branson’s space flight company also said it is evaluating a timeline for its next test flight, citing the need to analyze wear-and-tear issues for its Eve mothership.
  • Callaway Golf (Symbol: ELY) – Callaway rallied 7.5% in premarket trading after it surged well past the 14 cents a share consensus estimate, with quarterly earnings of 62 cents per share. The golf equipment and apparel maker’s revenue was also well above forecasts, with Callaway saying demand for its products has been “unprecedented” as the pandemic recedes.
  • Palantir Technologies (Symbol: PLTR) – The data analytics company matched Wall Street forecasts with quarterly profit of 4 cents per share, while revenue topped estimates. It also said it expected annual revenue growth of 30% or more through 2025. Shares dropped 6.6% in premarket action.
  • Hanesbrands (Symbol: HBI) – The apparel maker earned 39 cents per share for its latest quarter, beating the 26 cents a share consensus estimate. Revenue came in slightly above analysts’ forecasts, however its current-quarter and full-year forecast both fell short of expectations. Its stock tumbled 11.3% in the premarket. Hanesbrands also announced a three-year plan designed to boost sales and profit margins.
  • Perrigo (Symbol: PRGO) – The maker of consumer self-care products saw its stock fall 3% in premarket trading after quarterly profit and revenue fell short of Wall Street consensus. Perrigo reaffirmed its prior full-year forecast and noted the tough comparisons to a year ago when consumers stocked up on products as the pandemic took hold.
  • 3D Systems (Symbol: DDD) – 3D Systems earned 17 cents per share for its latest quarter, blowing past the 2 cents a share consensus estimate. The 3D printer maker’s revenue also exceeded Wall Street predictions. 3D Systems said it improved its profit margins through expense controls.

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