During Market hours Yesterday (Thursday – 19.05.2022):

  • The Dow (Symbol: DIA) went down 0.75%. The S&P 500 (Symbol: SPY) sank 0.61% and the Nasdaq (Symbol: QQQ) lost 0.54%.
  • Harley-Davidson (Symbol: HOG) – Shares of the motorcycle maker fell more than 8% after the company said it’s suspending most vehicle assembly and shipment for two weeks due to a parts issue related to a supplier. Its LiveWire division is excluded from the suspension.
  • Cisco (Symbol: CSCO) – Shares of the network company dropped 13% after the firm said it generated lower quarterly revenue than analysts predicted and called for an unexpected sales decline in the current period. Cisco said it was impacted by the war between Russia and Ukraine as well as Covid-19 lockdowns in China.
  • Bath & Body Works (Symbol: BBWI) – Shares of the personal care products retailer slid 8% after the company cut its full-year earnings forecast due to inflationary factors as well as increased investments. Bath & Body Works did report better-than-expected profit and revenue for its latest quarter, however.
  • Under Armour (Symbol: UA) — Shares of the apparel brand sank more than 10% after CEO Patrik Frisk announced that he would be stepping down, effective June 1. Morgan Stanley downgraded Under Armour to equal weight from overweight following the news.
  • Canada Goose (Symbol: GOOS) — The apparel company reported stronger-than-expected results for its fiscal fourth quarter, helping shares rise nearly 10%. The company beat estimates for earnings per share and revenue, according to analysts surveyed by Refinitiv. Canada Goose reported an expanding gross profit margin year over year.
  • BJ’s Wholesale (Symbol: BJ) — The retail stock leapt 12% after a better-than-expected first-quarter report. BJ’s earned an adjusted 87 cents per share on $4.5 billion in revenue. Analysts surveyed by Refinitiv had penciled in 72 cents in earnings per share on $4.24 billion in revenue. Comparable sales also grew faster than expected.
  • Synopsys (Symbol: SNPS) — The packaged software company rose more than 11%, which makes it one of the best performers in the S&P 500, after reporting its fiscal second-quarter results. Synopsys earned an adjusted $2.50 in earnings per share on $1.28 billion in revenue. Analysts surveyed by FactSet’s StreetAccount were looking for $2.37 in earnings per share on $1.26 billion in revenue.

During Premarket hours today – (Friday – 20.05.2022):

  • Deere (Symbol: DE) – The heavy equipment maker’s stock fell 4.4% in premarket trading after quarterly revenue missed Street forecasts. Deere beat earnings estimates by 10 cents, reporting $6.81 per share, as a jump in worldwide crop prices helped spur demand. The company also raised its annual profit outlook.
  • Deckers Outdoor (Symbol: DECK) – Deckers surged 13.8% in the premarket after the footwear company beat top and bottom-line estimates for its latest quarter. Deckers earned $2.51 per share, compared with a consensus estimate of $1.32, as net income more than doubled from a year earlier.
  • Ross Stores (Symbol: ROST) – Ross Stores slumped 27.4% in the premarket after the discount retailer posted top and bottom-line misses for its latest quarter and gave a downbeat forecast. Ross Stores said inflationary pressures have been exacerbated by the Ukraine conflict and that it is issuing conservative guidance due to uncertain macroeconomic conditions.
  • Palo Alto Networks (Symbol: PANW) – Palo Alto Networks rallied 12.1% in premarket trading after the cybersecurity company reported better-than-expected profit and revenue for its latest quarter. It also raised its full-year guidance for the third time.
  • Ollie’s Bargain Outlet (Symbol: OLLI) – The discount retailer’s shares jumped 6.4% in premarket trading after Bank of America Securities double-upgraded the stock to “buy” from “underperform.” BofA based its recommendation on a meaningful improvement in the supply of closeout items, due to over-ordering by retailers and a drop-off in consumer spending on durable goods.

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