During Market hours Yesterday — (Thursday – 11.11.2021):

  • The Dow (Symbol: DIA) went down 0.5%. The S&P 500 (Symbol: SPY) went up 0.03% and the Nasdaq (Symbol: QQQ) rose 0.3%.
  • Rivian Automotive (Symbol: RIVN) — Shares of the newly public electric vehicle start-up soared 22% in its second day of trading. This follows the company’s market debut where it rallied 29%. The company already has a market valuation larger than Ford and General Motors.
  • Beyond Meat (Symbol: BYND) — The alternative meat company whiffed on estimates for the third quarter, sending its stock down 13.3%. Investment firm Bernstein downgraded Beyond Meat to market perform after the quarterly report, saying there was too much uncertainty around demand for investors to buy the dip.
  • The Honest Company (Symbol: HNST) — The consumer goods stock rose 10% after The Honest Company’s third-quarter sales came in at $82.7 million, topping estimates of $80.8 million, according to Refinitiv. Growth in diapers and wipes was a key driver of the revenue beat.
  • Bumble (Symbol: BMBL) — The dating app stock tumbled 19% after Bumble reported a net loss of $10.7 millionfor the third quarter. Analysts surveyed by Refinitiv expected the company to break even. Paid users also came in lower than estimates, according to StreetAccount.
  • AppLovin (Symbol: APP) — The software stock jumped 20% after AppLovin reported third-quarter revenue of $727 million, beating estimates, according to FactSet. The company’s revenue was up 90% year over year, driven by growth in its business software platform.
  • Affirm (Symbol: AFRM) – “Buy now, pay later” darling Affirm’s shares rallied almost 14% after the company announced an expansion of its partnership with Amazon and reported a quarterly revenue beat, recording $269.4 million versus estimates of $248.2 million. Affirm also reported a quarterly per-share earnings loss, according to Refinitiv.
  • SoFi (Symbol: SOFI) – The fintech stock popped more than 12% as investors cheered a stronger-than-expected quarterly report. SoFi reported a loss of 5 cents per share in the third quarter, beating a Refinitiv forecast for a loss of 14 cents per share. The stock has rallied more than 90% since its IPO.
  • Marqeta (Symbol: MQ) – Shares of Marqeta, the card-issuing platform behind “buy now, pay later” brands like Affirm and Klarna fell 5% reporting stronger-than-expected quarterly results and a 60% increase in processing volume from the previous year.
  • Tapestry (Symbol: TPR) — The apparel stock rose 8.4% after a stronger-than-expected report for the company’s fiscal first quarter. Tapestry reported adjusted earnings of 82 cents per share on $1.48 billion of revenue. Analysts were expecting 70 cents in earnings per share on $1.43 billion in revenue, according to StreetAccount. The company also raised its full-year guidance for earnings and revenue.

During Premarket hours today – (Friday – 12.11.2021):

  • Johnson & Johnson (Symbol: JNJ) — Shares of Johnson & Johnson rose nearly 4% in premarket trading on Friday after announcing plans to split its consumer health business off from its pharmaceutical and medical device operations.
  • Lordstown Motors (Symbol: RIDE) — Shares of the auto startup plummeted 10% in premarket trading on Friday after the company reported another quarter with no revenue. Lordstown said it plans to produce and deliver its Endurance truck in the third quarter of 2022. The company’s loss per share was narrower than expected in its most recent quarter, according to Refinitiv. BTIG also downgraded Lordstown Motors to neutral from buy.
  • WM Technology (Symbol: MAPS)— Software company WM Technology was 13% lower in premarket trading on Friday after missing on the top and bottom lines of its quarterly results. WM Technology’s fourth-quarter guidance also came in under expectations.
  • Blink Charging (Symbol: BLNK) — Shares of the electric vehicle charging stock rose 5% in premarket trading on Friday as investors cheered strong third-quarter revenue. The company reported $6.4 million in revenue, well ahead of the $4.7 million expected by analysts, according to Refinitiv.
  • Warby Parker (Symbol: WRBY) — Shares of the eyeglasses company fell in premarket trading on Friday after the company reported wider-than-expected losses as direct listing costs offset 32% sales growth. Warby’s net loss for the three-month period ended Sept. 30 widened to $91.1 million, or $1.45 per share, compared with a loss of $41.6 million, or 78 cents a share, a year earlier.

*Any information contained in this article, including any information contained in external third party links, if any, is solely for informational purposes and does not contain, or should not be construed as containing, investment advice or an investment recommendation, or, an offer of or solicitation for any transactions in financial instruments. Past performance does not guarantee or predict future performance. Colmex Pro Ltd does not take into account your personal investment objectives or financial situation and makes no representation, and assumes no liability to the accuracy or completeness of the information provided, nor for any loss arising from any investment based on presented information.