During Market hours Yesterday — (Thursday – 05.08.2021):
- The Dow (Symbol: DIA) raised 0.75%. The S&P 500 (Symbol: SPY) went up 0.63% and the Nasdaq (Symbol: QQQ) gained 0.63%.
- Robinhood (Symbol: HOOD)— Shares of the trading app dropped 27.59% after the newly public company said in a filing that existing shareholders will sell close to 97.9 million shares over time. The commission-free broker said it will not receive any of the proceeds from the stock sale of 97,876,033 shares of its Class A common stock. The stockholders were among those who came to Robinhood’s rescue during the historic trading mania earlier this year.
- Cigna (Symbol: CI)— The insurance company’s shares fell 10.92% despite a better-than-expected quarterly earnings report. Cigna reported quarterly earnings of $5.24 per share on revenues of $43.11 billion. Analysts expected earnings of $4.96 per share on revenue of $41.26 billion. However, the company noted a headwind of higher medical costs.
- Fastly (Symbol: FSLY)— Fastly shares plunged 10.35% following its earnings report Wednesday, which showed a loss of 15 cents per share for the second quarter, compared to the 17-cent loss analysts had estimated. The cloud software provider missed on revenue forecasts and said its June network outage will continue to affect results for the rest of the year.
- Wayfair (Symbol: W)— The furniture and home goods retailer saw shares jump 10% after reporting earnings. Wayfair topped earnings estimates, reporting $1.89 per share, but missed slightly on revenue, reporting $3.86 billion compared to the estimated $3.94 billion. The company said active customers grew 20% year-over-year to 31.1 million.
- Nautilus Biotechnology (Symbol: NAUT)— Shares of Nautilus surged past 10% after a report that Amazon invested “millions” in the pre-revenue biotechnology company as part of its efforts to grow its healthcare presence. Nautilus went public in June through a special-purpose acquisition company, or SPAC.
- Etsy (Symbol: DIA)— Shares of the e-commerce name tumbled 9.74% after user growth numbers came up short of estimates. During the second quarter the company earned 68 cents per share, compared to the 63 cents analysts surveyed by Refinitiv were expecting. Revenue came in at $528.9 million, also ahead of the expected $524.7 million.
- Booking Holdings (Symbol: BKNG)— Booking Holdings stock jumped 5.8% despite missing Wall Street expectations for quarterly earnings on Wednesday. The company — whose brands include Priceline, Kayak and other travel services — lost an adjusted $2.55 per share for the second quarter, wider than the loss of $2.04 per share analysts anticipated. However, revenue came in above estimates as travel demand jumped.
- Edgewell Personal Care (Symbol: EPC)— The maker of personal care products saw shares rise 4.6% after reporting quarterly earnings. Edgewell reported earnings per share of 89 cents and revenue of $573.7 million, both of which beat Wall Street forecasts, according to Refinitiv. The company also raised its full-year earnings guidance.
- Roku (Symbol: ROKU)— The streaming service device company’s shares slid 4% after Roku reported weaker-than-expected user growth during the second quarter. The company did, however, beat expectations on both the top and bottom line. Roku earned 52 cents per share on $645 million in revenue. Analysts were expecting 13 cents per share on $618 million in revenue, according to estimates from Refinitiv.
- Becton Dickinson (Symbol: BDX)— Medical tech company Becton Dickinson’s stock fell 4.58% despite reporting second-quarter earnings of $2.74 per share, which beat analysts’ estimates by 30 cents. It also beat on revenue, reporting $4.89 billion versus the forecasted $4.51 billion.
During Premarket hours today – (Friday – 06.08.2021):
- Canopy Growth (Symbol: CGC) – The Canadian cannabis producer’s shares rose 1.9% premarket after it posted an unexpected quarterly profit on rising marijuana demand and cost cuts. The gain comes even as revenue falls short of Wall Street forecasts.
- Gannett (Symbol: GCI) – The USA Today publisher earned 10 cents per share for its latest quarter, compared with forecasts of a 36 cents per share loss. Revenue also topped Wall Street forecasts. The company saw digital subscriber numbers jump 41% from a year earlier, and the stock rallied 6.3% in the premarket.
- DraftKings (Symbol: DKNG) – The sports betting company’s stock jumped 3.5% premarket after it reported better-than-expected quarterly profit and revenue and raised its revenue forecast for the full year. DraftKings saw significant gains in a number of key metrics, including a 26% jump in monthly revenue per user.
- Novavax (Symbol: NVAX) – Novavax shares tumbled 11.7% in premarket trading after the drugmaker said it would delay seeking emergency use authorization for its Covid-19 vaccine until the fourth quarter. Novavax also posted a wider-than-expected loss and saw revenue fall below Wall Street forecasts.
- Didi Global (Symbol: DIDI) – Didi gained 4.1% in premarket action, following a Bloomberg report saying the China-based ride-hailing company was considering giving up control of its data to help resolve a regulatory probe by the Chinese government.
- Zillow Group (Symbol: ZG) – Zillow reported adjusted quarterly earnings of 44 cents per share, 20 cents above estimates, with the real estate website operator’s revenue above estimates as well. Zillow also gave an upbeat growth forecast, as it scales up its home-flipping business, and said it expects sales this quarter to exceed $2 billion for the first time. Zillow added 1.8% in the premarket.
- Virgin Galactic (Symbol: SPCE) – Virgin Galactic lost 39 cents per share for its latest quarter, 6 cents more than expected, though the space flight company did report much better-than-expected revenue. It also announced it will sell seats for space tourism flights at $450,000 and up. The stock was up 3.1% in premarket trading.
- Beyond Meat (Symbol: BYND) – Beyond Meat slid 3.7% in premarket action after it reported a quarterly loss of 31 cents per share, 7 cents wider than expected. Revenue for the maker of plant-based meat alternatives did come in above Street forecasts, but it gave a cautious outlook due to “more conservative” orders by its customers due to Covid-related uncertainty.
- Dropbox (Symbol: DBX) – Dropbox shares gained 3.5% in premarket trading after its adjusted earnings of 40 cents per share beat estimates by 7 cents and the cloud storage company’s revenue came in above forecasts as well.
- Cornerstone OnDemand (Symbol: CSOD) – Cornerstone agreed to be bought out by private equity firm Clearlake Capital Group. Clearlake will pay about $3.8 billion, or $57.50 per share in cash for the cloud computing firm. Cornerstone surged 13.3% in the premarket.
- Zynga (Symbol: ZNGA) – Zynga shares plunged 15.8% in the premarket after the mobile gaming company gave a disappointing full-year forecast, anticipating a slowdown in gaming. Zynga also reported adjusted quarterly earnings of 4 cents per share, 5 cents shy of estimates, with revenue below estimates as well.
- Carvana (Symbol: CVNA) – Carvana shares rallied 11.3% in premarket trading after the online used-car retailer posted an unexpected profit – its first ever – for its latest quarter. The company’s revenue also exceeded analyst forecasts by a wide margin. Auto sales, in general, have enjoyed a boom in demand since the pandemic began last year.
- Yelp (Symbol: YELP) – Yelp earned 5 cents per share for its latest quarter, compared with consensus forecasts for a 9 cents per share loss. The online review site operator also reported better-than-expected revenue and boosted its full-year forecast as ad revenue continues to strengthen. Shares surged 12.9% in premarket action.
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