During Market hours yesterday — (Thursday – 11.02.2021):
- The Dow (Symbol: DIA) went up 0.1%. The S&P500 (Symbol: SPY) rose 0.2% and the Nasdaq (Symbol: QQQ) popped 0.5%
- Tilray (Symbol: TLRY), Canopy Growth (Symbol: CGC), Aphria (Symbol: APHA), Aurora Cannabis (Symbol: ACB) — Several cannabis stocks dropped Thursday, giving up some of the sharp gains from earlier this week as Reddit traders piled into the names. Shares of Tilray fell more than 49% after rallying 50% on Wednesday. Canopy Growth lost 22%, Aphria dropped 35.8% and Aurora Cannabis sunk 23.5%.
- Bank of New York Mellon (Symbol: BK) — Shares of BNY Mellon rose 0.9% after it announced that it will begin financing bitcoin and other digital currencies. The announcement represents a significant step by one of the country’s most prominent custodian banks to validate the banking and financing of bitcoin and other digital currencies.
- Zillow (Symbol: Z) — Shares of the real estate tech company jumped 17.8% after a stronger-than-expected earnings report. Zillow reported 41 cents in earnings per share and $789 million in revenue for the fourth quarter. Analysts surveyed by Refinitiv were expecting 27 cents per share and $741 million. Citi upgraded the stock to buy from neutral following the report.
- Kraft Heinz (Symbol: KHC) — The food stock rose 4.9% after Heinz beat estimates on the top and bottom lines for the fourth quarter. The company also announced that it was selling its nuts business to Hormel Foods for more than $3 billion in cash. The deal includes the Planters and Corn Nut brands.
- Spirit Airlines (Symbol: SAVE) — The discount airline’s shares dropped 8.2% after reporting disappointing revenue for the fourth quarter. Seaport also downgraded Spirit Airlines to neutral from buy.
- Generac (Symbol: GNRC) — Shares of the power system company surged 13.9% after beating on the top and bottom lines of quarterly earnings. Generac earned $1.97 per share on revenue of $761 million. Wall Street expected earned of $1.96 per share on revenue of $731 million, according to Refinitiv.
- Virgin Galactic (Symbol: SPCE) — Shares of Virgin Galactic climbed 13.4% after an FAA notice indicated the company’s next spaceflight attempt remains on track for as early as Saturday. An FAA notice posted on Thursday said that airspace around Virgin Galactic’s base of operations at Spaceport America in New Mexico would be restricted for space operations from Saturday at 9 a.m. ET through Sunday at 6 p.m. ET.
- Tempur Sealy (Symbol: TPX) — Shares of the mattress maker were up 9.5% after the company reported earnings of 67 cents per share for the previous quarter, beating a Refinitiv estimate by 15 cents. The company also said it expects sales growth to range between 15% and 20% in 2021.
- Zynga (Symbol: ZNGA) — Shares of the mobile game developer were up 7.4% after CEO Frank Gibeau said the company was open to receiving a acquisition offer. He added, however, Zynga was not actively looking for a buyout. The company also reported a 61% surge in net bookings for the previous quarter, beating analysts expectations.
- Sonos (Symbol: SONO) — The maker of high-end smart speakers saw its shares soaring 15.7% after a strong earnings report. Sonos beat estimates on both the top and bottom lines in its latest quarter, according to Refinitiv. The company also raised its full year revenue guidance.
During Premarket hours today – (Friday – 12.02.2021):
- Walt Disney (Symbol: DIS) – Disney reported quarterly profit of 32 cents per share, surprising analysts who had expected a loss of 41 cents per share. Disney saw a not-unexpected slump in theme park attendance and box office results due to Covid, but the success of its Disney+ streaming service continues.
- Newell Brands (Symbol: NWL) – The company behind consumer brands like Rubbermaid, Sharpie and Sunbeam reported quarterly profit of 56 cents per share, beating estimates by 8 cents a share. Revenue came in above estimates as well. Newell forecast full-year earnings at $1.55 to $1.65 per share, compared with a consensus estimate of $1.68 a share, amid softness in its writing business that’s cutting into strong performances in areas such as appliances and cookware.
- Coherent (Symbol: COHR) – Electronic components maker II-VI (Symbol: IIVI) is planning a $6.5 billion bid for the laser maker, according to people familiar with the matter who spoke to The Wall Street Journal. The bid is worth $260 per share in cash and stock, topping the $226 per share agreement that Coherent already has with Lumentum Holdings (Symbol: LITE) as well as a $240 per share bid from MKS Instruments (Symbol: MKSI).
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