During Market hours yesterday — Thursday (05.11.2020):
Stocks popped on Thursday on hopes the winner of the U.S. presidential and congressional elections would soon be determined.
- The Dow (Symbol: DIA) went up 1.9%. The S&P 500 (Symbol: SPY) popped 1.9% and the Nasdaq (Symbol: QQQ) closed 2.6% higher.
- Qualcomm (Symbol: QCOM) Shares of Qualcomm surged more than 12% after the chipmaker reported stronger-than-expected quarterly results. Qualcomm posted adjusted quarterly earnings of $1.45 per share, beating the Refinitiv consensus estimate of $1.17. Its revenue also came in above forecasts.
- Expedia Group (Symbol: EXPE) Shares of the travel website jumped 4.7% after the company beat top and bottom line estimates during the third quarter. Expedia lost 22 cents per share during the period, which was less than the 79 cent loss analysts surveyed by Refinitiv expected.
- Match Group (Symbol: MTCH) Match Group rose 4.9% after the company said that the pandemic boosted the popularity of its services during the third quarter. Revenue grew 18% year over year to $640 million.
- General Motors (Symbol: GM) Shares of the automaker moved 5.4% higher after posting better-than-expected earnings for the third quarter. GM earned an adjusted $2.83 per share. Analysts polled by Refinitiv expected a profit of $1.38 per share. The company’s earnings were driven by strong truck and SUV sales in North America.
- HanesBrands (Symbol: HBI) Shares of the clothing company tanked more than 18% after issuing weak fourth quarter revenue and earnings guidance. HanesBrands, however, beat on the top and bottom lines of its third quarter results, which were boosted by strong demand in its Champion brand.
- Cardinal Health (Symbol: CAH) The health care stock climbed more than 7% after Cardinal beat Wall Street expectations for its fiscal first quarter. The company reported $1.51 in adjusted earnings per share and $39.01 billion in revenue. Analysts surveyed by Refinitiv were looking for $1.13 per share and $38.18 billion.
- Zynga (Symbol: ZNGA) Shares of the video game company sank 7.3% despite better-than-projected third-quarter bookings for Zynga. The company reported $628 million in bookings, $2 million higher than analysts surveyed by Refinitiv were looking for, but MKM Partners said in a note that “4Q guidance lacks the leverage investors hoped to see.”
- Capri Holdings (Symbol: CPRI) The apparel stock jumped more than 8% after Capri Holdings beat Wall Street estimates for its fiscal second-quarter as digital sales climbed 60%. The company reported 90 cents per share in adjusted earnings and $1.11 billion in revenue. Analysts surveyed by Refinitiv projected a profit of 4 cents per share and $925 million in revenue.
- Qorvo (Symbol: QRVO) The chip stock surged 9.7% after Qorvo reported better-than-expected results for its fiscal second quarter. Qorvo generated $2.43 in adjusted earnings per share on $1.06 billion in revenue. Analysts surveyed by FactSet had expected $2.12 in earnings per share and $1.00 billion in revenue. The company also announced that it had acquired French software company 7Hugs Labs S.A.S. and won a $75 million U.S. federal contract for a production center.
- Barrick Gold (Symbol: GOLD) The mining stock gained nearly 7% on Wednesday after the company reported better-than-expected earnings for third quarter. Barrick’s adjusted earnings per share of 41 cents was 9 cents higher than analysts had projected, according to FactSet. Barrick also increased its quarterly dividend by 12.5%.
During Premarket hours today – Friday (06.11.2020):
- Uber (Symbol: UBER) Uber reported a quarterly loss of 62 cents per share, 3 cents a share smaller than analysts had forecast. Revenue came in shy of estimates. Uber is seeing a slow recovery in its ride-hailing business, although demand is surging for its Uber Eats food delivery service.
Peloton (Symbol: PTON) Peloton beat estimates by 9 cents a share, with quarterly earnings of 20 cents per share. Revenue beat estimates as well on strong demand for Peloton’s at-home exercise equipment.
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