During Market hours yesterday – Thursday (15.10.2020):

Stocks fell for a third day in a row on Thursday as hope for a U.S. coronavirus stimulus deal continues to decrease while infections across Europe are on the rise.

  • The Dow (Symbol: DIA) closed lower 0.03%.. The S&P 500 (Symbol: SPY) slid 0.1% and the Nasdaq (Symbol: QQQ) pulled back 0.7%
  • Roku (Symbol: ROKU) Shares of the streaming device maker slid 2.8% after KeyBanc downgraded the company to a “sector weight” rating. The firm said that after the stock’s roughly 40% gain in the last month, the “positive fundamentals appear reflected in [the] share price.” KeyBanc said it feels more confident about Netflix, on which it has an overweight rating.
  • Lemonade (Symbol: LMND) Shares of the newly public insurance company slumped 8.2% after Credit Suisse initiated coverage of the stock with an underweight rating. The investment firm said in a note that Lemonade will “need to significantly improve its retention and in turn its customer acquisition expense ratio efficiency to support current stock price levels.”
  • United Airlines (Symbol: UAL) Shares of the airline company fell 3.8% on the back of disappointing third-quarter results as the travel industry continues to reel from the coronavirus pandemic. United reported a loss of $8.16 per share on revenue of $2.49 billion. Analysts expected a loss of $7.53 per share on revenue of $2.5 billion, according to Refinitiv.
  • Charles Schwab (Symbol: SCHW) The e-broker rose more than 5% after beating on the top and bottom lines of its third quarter results. Schwab reported earnings of 48 cents per share on revenue of $2.45 billion. Analysts were expecting earnings of 46 cents per share on revenue of $2.43 billion, according to Refinitiv. Schwab added 592,000 new accounts in the third quarter and averaged 1.5 million daily active trades.
  • Zoom (Symbol: ZM) Shares of the video conferencing company popped 5.3% after AB Bernstein hiked its 12-month price target on Zoom Video to $611 per share from $228 per share. This is the highest target price of any major firm, according to FactSet. Bernstein is “increasingly bullish on operational metrics and new product releases,” the firm said.
  • Alcoa (Symbol: AA) The aluminum stock fell 5.4% despite the company reporting better-than-expected third-quarter results. Alcoa said in a release that it expects quarter-over-quarter results for the fourth quarter to be flat for its bauxite segment and lower for its alumina segment.
  • Brinker International (Symbol: EAT) The restaurant stock jumped 4.7% after an upgrade to outperform from market perform by BMO Capital Markets. The firm said in a note that the Chili’s parent company was set to beat earnings expectations once the pandemic passes.
  • Sleep Number (Symbol: SNBR) The bedding maker’s stock rallied more than 11% after the company reported quarterly results that beat analyst expectations. Sleep Number reported a profit of $1.79 per share on revenue of $531.2 million. Analysts polled by Refinitiv expected earnings per share of $1.06 on revenue of $523.5 million. The company also said its “online and phone sales” surged by 111% when compared to the year-earlier period.
  • Fastly (Symbol: FSLY) Shares of Fastly dropped more than 27% after the cloud computing services provider cut its third-quarter revenue guidance, citing an “uncertain geopolitical environment” and a decline in usage from its largest customer TikTok. Fastly said it now expects third-quarter sales of $70 million to $71 million, lower than a previous guidance of $73.5 million to $75.5 million. It also withdrew its full-year forecast.
  • Walgreens (Symbol: WBA) Shares of Walgreens popped 4.8% after the drugstore chain posted better-than-expected earnings and issued an upbeat guidance. Walgreens earned $1.02 per share in its fiscal fourth quarter, beating a Refinitiv estimate of 96 cents per share. The results were boosted by higher sales at U.S. pharmacies. The company also said it expects single-digit profit growth in the second half of its fiscal 2021 period.

 During Premarket hours today – Friday (16.10.2020):

  • Intuitive Surgical  (Symbol: ISRG) Intuitive Surgical reported adjusted quarterly earnings of $2.77 per share, beating the consensus estimate of $2.07, with revenue also exceeding forecasts.
  • VF Corp. (Symbol: VFC) The maker of North Face and other apparel brands reported adjusted quarterly profit of 67 cents per share, beating the consensus estimate of 49 cents, with revenue also above forecasts.