During Market hours Yesterday (Thursday – 13.05.2021):
- The Dow (Symbol: DIA) went up 1.32%. The S&P 500 (Symbol: SPY) gained 1.20% and the Nasdaq (Symbol: QQQ) popped 0.77%.
- Canada Goose (Symbol: GOOS)— Shares of the retailer slid 8.89% despite beating analysts’ earnings expectations. Canada Goose reported earnings of 1 cent per share, compared to the loss of 12 cents forecast by Wall Street, according to Refinitiv. The company made $209 million in revenue, higher than the expected $161 million.
- UTZ Brands (Symbol: UTZ)— Shares of the food company dropped 8.18% after missing on the top and bottom lines of its quarterly results. The pretzel-maker earned 13 cents per share on revenue of $269 million. Analysts expected earnings of 14 cents per share on revenue of $275 million, according to Refinitiv.
- Bumble (Symbol: BMBL)— Shares of the dating app company fell 14.31% despite higher-than-expected sales numbers for the first quarter. Bumble reported first-quarter revenues of $170.7 million, while analysts expected $164.6 million. The company raised its forward revenue guidance, but some Wall Street analysts said that the raise appeared conservative.
- Boeing (Symbol: BA)— Shares of the Dow component rose 0.84% trading after U.S. airlines started fixing scores of 737 Max planes grounded last month due to an electrical issue. The Federal Aviation Administration approved the repairs that had grounded more than 100 planes in April.
- Lowe’s (Symbol: LOW)— Lowe’s stock gained 2.45% after Oppenheimer upgraded the home-improvement retailer to an outperform rating. Analyst Brian Nagel told clients that the rotation back into cyclical stocks and its relative cheapness makes it a compelling buying opportunity.
- Vroom (Symbol: VRM)— Shares of the company gained 2% after Vroom reported a smaller-than-expected loss for the first quarter, with revenue also beating Street expectations. The company said total gross profit nearly doubled year over year.
- Sonos (Symbol: SONO)— Sonos shares jumped 7.43% after the company reported a surprise profit for its fiscal second quarter. Sonos earned 12 cents per share on an adjusted basis, compared to the 22-cent loss per share analysts surveyed by FactSet were expecting. Revenue also beat estimates, and the company raised its full-year outlook.
- Poshmark (Symbol: POSH)— The online consignment retailer’s shares plunged 21.81% even after a better-than-expected quarterly report. Poshmark reported an adjusted first quarter loss of 33 cents per share, smaller than the 42 cent loss expected by Wall Street analysts, according to Refinitiv. The company also saw revenue come in above analyst forecasts.
- BJ’s Wholesale (Symbol: BJ)— Shares of the retailer popped 5.75% after JPMorgan upgraded the stock to outperform from neutral. The firm said in a note that BJ’s membership program appeared to be undervalued by the market.
During Premarket hours today – (Friday – 14.05.2021):
- Walt Disney (Symbol: DIS) – Disney shares dropped 3.9% in premarket trading after growth figures for the Disney+ streaming service fell short of Wall Street predictions. Disney reported better-than-expected profit for the first quarter, but revenue was short of analysts’ forecasts.
- DoorDash (Symbol: DASH) – DoorDash surged 8.2% in the premarket after first-quarter revenue came in above analysts’ forecasts, and the food delivery service raised its annual forecast for order value. First-quarter results got a boost from stimulus checks, although the company said those same checks were responsible for drivers working fewer hours.
- Snowflake (Symbol: SNOW) – The cloud computing company was upgraded to “buy” from “neutral” at Goldman Sachs, which notes the Snowflake’s strong competitive position, as well as a drop from recent highs that is much larger than its peers have experienced. Snowflake jumped 5.7% in premarket trading.
- Coinbase (Symbol: COIN) – Coinbase reported record profit during the first quarter, as the cryptocurrency exchange benefited from a significant rally in bitcoin and other digital currencies. Coinbase shares rose 2.3% in premarket action.
- General Electric (Symbol: GE) – Citi reinstated coverage of GE with a “buy” rating, based on a “sum of the parts” valuation and better execution across GE’s portfolio of businesses. GE shares added 1.1% in premarket trading.
- Aurora Cannabis (Symbol: ACB) – Aurora Cannabis tumbled 8.7% in premarket action after it reported lower-than-expected fiscal third-quarter revenue, hit by pandemic-related restrictions in Canada. Separately, the cannabis producer announced a move in its U.S. stock listing to Nasdaq from the New York Stock Exchange, citing lower costs.
- Fisker (Symbol: FSR) – Fisker soared 14.5% in premarket trading after the electric car maker signed a deal with contract manufacturer Foxconn to co-develop electric vehicles. Plans include opening a new U.S. manufacturing plant in 2023, although a location has not yet been finalized.
- Poly (Symbol: PLT) – Poly tumbled 19.5% in the premarket after the maker of audio and video products issued a weaker than expected outlook. The company formerly known as Plantronics said it expected the global semiconductor shortage to negatively impact its supply chain. It did, however, report better-than-expected profit and revenue for its latest quarter.
- Unity Software (Symbol: U) – The 3D content creation platform company rose 3.2% in the premarket after Oppenheimer upgraded the stock to “outperform” from “perform.” Oppenheimer said the current price is an attractive entry point given Unity’s growth prospects.
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