During Market hours Yesterday — (Thursday – 02.09.2021):
- The Dow (Symbol: DIA) edged 0.37%. The S&P 500 (Symbol: SPY) went up 0.31% and the Nasdaq (Symbol: QQQ) slid 0.05%.
- Five Below (Symbol: FIVE) — The retail stock tumbled 13% after the company reported a quarterly revenue miss. Five Below posted $646.6 million in revenue in the second quarter, compared to forecasts of $648.3 million, according to Refinitiv. Its second-quarter earnings came in above expectations, however.
- Chewy (Symbol: CHWY) — Shares of the pet retailer took a 9.3% hit after reporting quarterly results late Wednesday. Chewy recorded a loss of 4 cents per share, which was greater than the 2 cents estimated by analysts. It also missed revenue expectations, reporting $2.16 billion for the quarter compared to estimates of $2.2 billion. Chewy pointed to a higher-than-usual level of out-of-stock products and issued a weaker-than-expected outlook.
- C3.ai (Symbol: AI) — Shares of the software company ticked 10.2% lower after reporting a loss of 37 cents per share, compared to analyst estimates of 28 cents, according to Refinitiv. C3.ai made $52.4 million in revenue last quarter, topping estimates of $51.2 million.
- Okta (Symbol: DIA) — The identity management software company’s stock rose 2.6% after the company reported a smaller-than-expected loss for its second quarter. Okta reported an adjusted loss of 11 cents per share on $315.5 million in revenue. Analysts surveyed by Refinitiv were expecting a loss of 35 cents per share on $296.5 million in revenue. Investment firm Needham upgraded the stock to buy from hold following the report, citing strong growth.
- ChargePoint (Symbol: CHPT) — Shares popped 8.2% after the company gave strong third-quarter revenue guidance and raised its full-year revenue estimates. The company reported a quarterly loss of 13 cents per share on revenue of $56.1 million. Earnings matched estimates and revenue topped estimates.
- Lands’ End (Symbol: LE) — The clothing retailer’s stock dropped 9.1% after Lands’ End said its profit margins would moderate in the back half of its fiscal year due to supply chain challenges.Earnings beat on the top and bottom lines of quarterly results.
- Hormel Foods (Symbol: HRL) — The food company fell 4.6% after giving full-year earnings guidance below analyst expectations. The company said it expects earnings between $1.65 and $1.69 per share, while Wall Street estimated $1.71 per share. Hormel did beat analysts’ forecasts for revenue.
- Signet Jewelers (Symbol: SIG) — Shares of the jewelry company popped 5.7% after Signet reported earnings of $3.57 per share, well above the $1.69 per share expected by Wall Street, according to Refinitiv. Signet made $1.79 billion in revenue, topping forecasts of $1.64 billion.
During Premarket hours today – (Friday – 03.09.2021):
- Didi Global (Symbol: DIDI) – Didi rallied 4.3% in the premarket following a Bloomberg report that Beijing was considering taking a stake in the ride-hailing company and possibly bringing it under state control. It is unclear what size stake Beijing would consider taking in the company.
- Netflix (Symbol: NFLX) – The video streaming service’s stock remains on watch today after rising in 14 of the past 15 sessions and hitting an all-time high in Thursday’s session.
- MongoDB (Symbol: MDB) – MongoDB lost 24 cents per share for its latest quarter, narrower than the 39 cent loss that analysts anticipated. The database platform company also reported better-than-expected revenue and gave upbeat current-quarter revenue guidance. Shares soared 13.5% in premarket action.
- PagerDuty (Symbol: PD) – PagerDuty shares surged 14.5% in the premarket, after reporting a loss and revenue that beat consensus. The provider of digital operations management solutions reported an adjusted loss of 13 cents per share for its latest quarter, 2 cents narrower than expected, while issuing a strong current-quarter revenue outlook.
- Hewlett Packard Enterprise (Symbol: HPE) – Hewlett Packard Enterprise came in 5 cents ahead of estimates with adjusted quarterly earnings of 47 cents per share, while revenue was essentially in line with analyst forecasts. The company’s business continues to get a boost from the pandemic-driven move to digital operations.
- Western Digital (Symbol: WDC) – The disk drive maker’s shares added 1.9% in the premarket, following a published report in Japan saying memory chip maker Kioxia favors a planned initial public offering over a possible merger with Western Digital. The two sides had reportedly been in advanced talks to merge in a deal worth $20 billion or more.
- DocuSign (Symbol: DOCU) – DocuSign beat estimates by 7 cents with adjusted quarterly earnings of 47 cents per share and revenue that topped Street forecasts. The provider of electronic signature technology also raised its full-year guidance for total revenue, subscription revenue and billings.
- Broadcom (Symbol: AVGO) – The chip maker reported adjusted quarterly earnings of $6.96 per share, 8 cents above estimates, with revenue slightly above consensus. Broadcom also issued an upbeat current-quarter outlook as it continues to see strong demand in the 5G mobile market.
- fuboTV (Symbol: FUBO) – The sports programming streaming service’s shares jumped 4.5% in premarket trading after it received approval from Arizona regulators to offer mobile wagering in the state. Arizona is the second state to allow fuboTV to offer such betting, following a recent approval in Iowa.
- Aurora Cannabis (Symbol: ACB) – The cannabis producer’s shares were upgraded to “hold” from “underperform” at Jefferies, which cited a number of factors including valuation. The stock added 1% in premarket trading.
- MicroStrategy (Symbol: MSTR) – The business analytics company’s stock rose 3.1% in the premarket, as it continues to closely track movements in bitcoin. MicroStrategy has more than $5 billion in bitcoin on its balance sheet.
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