During Market hours Yesterday — (Thursday – 12.08.2021):
- The Dow (Symbol: DIA) gained 0.08%. The S&P 500 (Symbol: SPY) jumped 0.3% and the Nasdaq (Symbol: QQQ) edged 0.36%.
- Opendoor (Symbol: OPEN)— Opendoor soared 24% after reporting a quarterly loss of 24 cents per share, 10 cents less than analysts estimated. Late Wednesday, the home buying and selling company also reported better-than-expected revenue and issued an upbeat sales forecast for the current quarter.
- Marqeta (Symbol: MQ)— Shares of Marqeta, the card issuing platform behind Square and “buy now, pay later” brands like Affirm and Klarna, are down 8.51% after their first release of quarterly results as a public company. On Wednesday, the company reported a loss of 29 cents per share. It also showed 350% growth in its “buy now, pay later” business, though a major member of that cohort, Afterpay, has agreed to be acquired by Square.
- Coinbase (Symbol: COIN)— The cryptocurrency exchange’s stock fell 7.87% as the price of bitcoin slipped below $45,000. Coinbase’s revenue comes mostly from trading fees, and the company’s stock price tends to trade in tandem with the price of bitcoin. The stock jumped higher earlier this week after reporting blowout earnings.
- Bumble (Symbol: BMBL)— Shares of Bumble gained 6.63% after the online dating platform reported mixed second-quarter financial results. Bumble reported a loss of 6 cents per share, while analysts expected earnings of 1 cent per share, according to Refinitiv. However, the company reported $186.2 million in revenue, topping Wall Street’s $178.7 million estimate. Bumble also raised its third-quarter and full-year revenue guidance.
- Hims & Hers Health (Symbol: HIMS)— Shares of the telehealth platform operator jumped 10.83% after the company posted a narrower-than-expected quarterly loss. Hims & Hers lost 3 cents per share for its second quarter, smaller than the 9 cent loss estimate from analysts, according to Refinitiv. Its revenue also topped expectations.
- Micron (Symbol: MU)— Shares of semiconductor company dropped 6.37% after Morgan Stanley downgraded the stock to equal weight from overweight. The investment firm said in a note to clients that the memory chip market is about to enter a downturn that will hit Micron and its rivals.
- Lordstown Motors (Symbol: RIDE)— Shares of Lordstown Motors gained 2.87% despite the company’s wider-than-expected quarterly loss of 61 cents per share. The electric vehicle maker said it will begin limited production of its Endurance pickup truck in late September.
- Palantir (Symbol: PLTR)— Palantir shares surged 11.36% after the data analytics company reported quarterly revenue topping Wall Street expectations. Revenue jumped 49% in the second quarter from the year prior.
- Sonos (Symbol: SONO)— The maker of audio products saw its stock jump 7.41% following its earnings report late Wednesday, which came in at 12 cents per share. Analysts polled by Refinitiv expected a loss of 17 cents per share. Sonos also recorded strong revenues of $378.7 million, compared with an estimate of $313.6 million. CEO Patrick Spence said in a statement that “with more video content going direct-to-home, consumers are demanding a theater-like audio experience in the home.”
During Premarket hours today – (Friday – 13.08.2021):
- Walt Disney (Symbol: DIS) – Walt Disney reported adjusted quarterly earnings of 80 cents per share, well above the 55-cent consensus estimate, with revenue beating forecasts as well. Disney’s performance was boosted by a rebound in U.S. theme park attendance as well as stronger-than-expected growth for its Disney+ streaming service. The company did, however, warn of uncertainty surrounding the impact of the delta coronavirus variant. Disney shares rallied 5.5% in the premarket.
- Airbnb (Symbol: ABNB) – Airbnb lost 11 cents per share for its latest quarter, smaller than the 47-cent loss that analysts were anticipating. Revenue exceeded estimates, nearly quadrupling from a year earlier as domestic travel rebounded from its pandemic lows. However, the company pointed to uncertainty surrounding the pandemic and the delta variant, and Airbnb shares slid 2.8% in premarket trading.
- 23andMe (Symbol: ME) – The genetic research company reported revenue of $59 million in its first quarter as a public company, up 23% from a year ago, while reporting a smaller loss. 23andMe shares climbed 2.1% in premarket action.
- DoorDash (Symbol: DASH) – DoorDash posted a quarterly loss of 30 cents per share, wider than the 20 cents that Wall Street had projected. However, the food delivery service’s revenue did beat estimates, with gross order volume up 70% from a year ago. DoorDash also raised its full-year guidance for gross order volume. DoorDash shares fell 4.2% in the premarket.
- SoFi (Symbol: SOFI) – SoFi lost 48 cents per share for its second quarter, compared with analyst forecasts of a 6 cents per share loss. The digital financial services company’s revenue exceeded estimates, as membership more than doubled from a year earlier, but the stock tanked 9.6% in premarket action.
- Pfizer (Symbol: PFE), BioNTech (Symbol: BNTX), Moderna (Symbol: MRNA) – The FDA authorized Covid-19 vaccine booster shots for immunocompromised people utilizing the Pfizer/BioNTech and Moderna vaccines. Pfizer added 0.2%, BioNTech climbed 2.4% and Moderna gained 2.3%.
- Embraer (Symbol: ERJ) – The Brazilian jet maker posted its first recurring quarterly profit since the first quarter of 2018, as travel demand rebounded from the lowest levels of the pandemic. Shares jumped 3.6% in the premarket.
- Kansas City Southern (Symbol: KSU) – Kansas City Southern rejected an improved takeover offer from Canadian Pacific Railway (Symbol: CP), saying it did not constitute a “superior proposal” to its agreement with Canadian National Railway (Symbol: CNI). The Canadian Pacific offer is worth $27 billion compared to $29 billion for Canadian National, but Canadian Pacific feels its bid has a better chance of regulatory approval.
- ZipRecruiter (Symbol: ZIP) – ZipRecruiter posted a quarterly loss of 55 cents per share, compared with a consensus estimate of a 22 cents per share loss. However, the online employment marketplace operator saw revenue well above Street forecasts and made upbeat comments about the remainder of 2021. ZipRecruiter surged 14.3% in the premarket.
- Rocket Companies (Symbol: RKT) – Rocket shares gained 5.4% in premarket action despite a miss on the top and bottom lines for the online mortgage platform operator. Rocket did see a surge in closed loan origination volume over a year ago and gave upbeat current-quarter guidance for a variety of metrics.
- ContextLogic (Symbol: WISH) – The e-commerce platform company’s stock tumbled 27.8% in the premarket, following top and bottom line misses for its latest quarter. The operator of wish.com said it saw slowing demand for its products, fewer users and active buyers, and higher costs.
- Activision Blizzard (Symbol: ATVI) – The videogame maker’s stock added 1.1% in premarket trading after Citi upgraded it to “buy” from “neutral”, saying the current risk/reward profile looks favorable following the stock’s recent pullback.
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