During Market hours Yesterday – (Monday – 26.07.2021):
- The Dow (Symbol: DIA) edged 0.24%. The S&P 500 (Symbol: SPY) went up 0.25% and the Nasdaq (Symbol: QQQ) raised 0.08%.
- Hasbro (Symbol: HAS)— Shares of the toymaker soared 12.2% after beating on the top and bottom lines of its quarterly results. Hasbro reported earnings of $1.05 per share, topping estimates by 58 cents, according to Refinitiv. Revenue came in at $1.32 billion, compared to the $1.16 billion forecast by the Street.
- Tesla (Symbol: TSLA)— Tesla shares gained 2.2% ahead of the electric vehicle maker’s second-quarter earnings report after the bell. Analysts are expecting key insights into the company’s business in China, bitcoin holdings, full self-driving capability and new manufacturing facilities in Germany and Texas.
- Lockheed Martin (Symbol: LMT)— The defense contractor saw its shares fall 3.34% after it reported quarterly earnings of $6.52 per share, missing analysts’ estimate by one cent, though revenue beat estimates. The earnings report also included a 61 cent charge related to performance issues at a classified program.
- Zoom Video (Symbol: ZM)— Shares of the video conferencing company jumped 3.9% on Monday after Bank of American named Zoom Video a top pick. The firm said in a note to clients that Zoom’s acquisition of Five9 was a “game-changer” in the corporate communications space.
- Lowe’s (Symbol: LOW)— The home improvement company’s stock fell 1.5% after Wedbush downgraded it to neutral from outperform, saying tailwinds are slowing. “Supported by commentary from large suppliers, we expect to see a leading indicator of a downturn emerge more clearly this quarter” in Lowe’s results, the Wedbush analyst said.
- Six Flags (Symbol: SIX)– Six Flags shares rose about 5.4% after Wedbush upgraded the stock to an outperform rating from a neutral rating. The firm called Six Flags a “compelling” reopening play. “SIX represents an intriguing combination of massive underperformance over the course of the pandemic, manageable reopening headwinds, and a significant-yet-realistic post-pandemic margin-enhancement story,” the firm said.
- Gap (Symbol: GPS)– Shares of the retailer edged about 3% higher after Deutsche Bank upgraded the stock to a buy rating. The firm said Gap is “making a comeback with improving profitability.” Deutsche Bank has a $42 target on the stock, which is 44% above where shares closed on Friday.
- PerkinElmer (Symbol: PKI)– Shares of PerkinElmer gained 4.7% after the life sciences company announced it would acquire BioLegend, an antibodies and reagents provider. The deal is worth about $5.25 billion in a combination of cash and stock. PerkinElmer said in a press release that the transaction will be the largest in the company’s history.
- Check Point (Symbol: CHKP)— Shares of the software company ticked 3.8% lower despite reporting better-than-expected earnings and revenue before the bell. Check Point reported earnings of $1.61 per share on revenue of $526 million. Wall Street estimated earnings of $1.56 on revenue of $524 million, according to Refinitiv.
- Didi Global (Symbol: DIDI)— Shares of the Chinese ride-hailing firm stabilized on Monday and dipped 0.25%. The stock fell more than 20% on Thursday and Friday, as China crackdowns on tech companies. On Monday, Atlantic Equities downgraded the stock to neutral, saying that shares would likely remain volatile for the rest of the year.
- TAL Education (Symbol: TAL)— TAL Education shares continued to fall after Friday’s reports of a Chinese government crackdown on education training institutions that included bans on foreign investment. The stock dropped 26.67% on Monday. Goldman Sachs downgraded the stock to a neutral rating and Bank of America double-downgraded the stock to an underperform rating. Both firms cited regulatory uncertainty for the Chinese education company.
- Tencent Music Entertainment (Symbol: TME)–Shares of the China-based music platform fell 2.97% after Chinese regulators ordered the company to end its exclusive music licensing deals with global record labels within 30 days. Tencent Music has also been fined more than $77,000 by China’s antitrust authorities. The stock has tumbled more than 30% this month.
During Premarket hours today – (Tuesday – 27.07.2021):
- F5 Networks (Symbol: FFIV) – F5 beat estimates by 30 cents a share, with quarterly earnings of $2.76 per share. The enterprise software maker’s revenue topped analysts’ forecasts as well. F5 saw strong demand amid a continued pandemic-induced growth in digital business applications. F5 rallied 6.1% in premarket trading.
- United Parcel Service (Symbol: UPS) – UPS shares fell 2.4% in the premarket, as domestic revenue came up shy of estimates. UPS beat overall on the top and bottom lines, however, as a surge in shipping of e-commerce orders continued. UPS earned $3.06 per share for the second quarter, compared to a consensus estimate of $2.82.
- 3M (Symbol: MMM) – 3M rose 1.2% in premarket trading, after beating the $2.28 a share consensus estimate with quarterly earnings of $2.59 per share. Revenue beat forecasts as well, and 3M raised its full-year outlook as its various businesses recover from the pandemic.
- General Electric (Symbol: GE) – GE shares rose 3.9% in premarket action, as it beat forecasts and surprised analysts with positive cash flow for the quarter. GE earned 5 cents per share for the second quarter, 2 cents a share above estimates. Revenue beat estimates as well on strong performances by its aviation and power divisions.
- Raytheon Technologies (Symbol: RTX) – Raytheon came in 10 cents a share above estimates, with quarterly earnings of $1.03 per share. Revenue also topped analysts’ forecasts. The aerospace manufacturer raised its full-year forecast, as a recovery in commercial air travel boosted demand for its products and services. Raytheon shares rose 1.7% in the premarket.
- Sirius XM (Symbol: SIRI) – The satellite radio operator beat estimates by 3 cents a share, with quarterly earnings of 10 cents per share. The company also reported better-than-expected revenue. Its profit nearly doubled from a year earlier as it benefited from subscriber additions. The stock gained 3.1% in premarket action.
- Tesla (Symbol: TSLA) – Tesla earned $1.45 per share for the second quarter, compared to a 98 cents a share consensus estimate. Revenue also beat forecasts. The automaker said its success during the second half of the year would center around its ability to navigate supply chain issues. Tesla rose 1.6% in premarket trading.
- Intel (Symbol: INTC) – Intel set out a multi-year plan to regain its dominance in the semiconductor market, aiming to release a new chip each year between now and 2025 and seeking to regain lost market share from competitors like Samsung and Taiwan Semiconductor. Intel fell 1.9% in the premarket.
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