During Market hours yesterday — (Thursday – 20.05.2021):
U.S. weekly jobless claims total 444,000, vs 452,000 estimate
- The Dow (Symbol: DIA) went up 0.61%. The S&P 500 (Symbol: SPY) jumped 1.08% and the Nasdaq (Symbol: QQQ) gained 1.93%.
- Kohl’s (Symbol: KSS)— Kohl’s stock fell 10.17% on Thursday after it said supply chain issues may drag on its profit margins. Now, the company says increases to its number of truck drivers could be a cost headwind to earnings for the rest of this year.
- BJ’s Wholesale (Symbol: BJ)— The warehouse retailer stock dropped 4.98% after the company said the rest of 2021 remains difficult to forecast due to the pandemic impact. BJ’s Wholesale reported adjusted quarterly earnings of 72 cents per share, 15 cents above estimates, according to Refinitiv. Its revenue also beat estimates, but BJ’s saw comparable store sales ex-fuel fall by 5%.
- Hormel Foods (Symbol: HRL)— Hormel shares jumped 7.37% after posting better-than-expected first-quarter earning results. The food producer reported quarterly earnings of 42 cents per share, beating expectations by a penny per share, and revenue that topped analysts’ projections. The company’s brands include Spam, Dinty Moore and Jennie-O.
- Virgin Galactic (Symbol: SPCE)— The space travel stock jumped 14.71% after the company announced its next test flight is set to occur Saturday. The company said the aircraft that carries the spaceship before launch, VMS Eve, was cleared for flight following a maintenance review. Virgin Galactic shares surged as much as 25% in premarket trading before dipping on heavy trading volume.
- L Brands (Symbol: LB)— Shares of the retailer fell 3.91% despite reporting better-than-expected quarterly results after the bell Wednesday. L Brands posted earnings of $1.25 per share, compared with $1.21 projected, and revenue of $3.02 billion, slightly above the $3.01 billion expected. The company did not issue guidance for the full year. By this fall, L Brands plans to split its Victoria’s Secret business into its own publicly traded entity.
- Ralph Lauren (Symbol: RL)— Shares of Ralph Lauren fell 7% despite the apparel maker reporting better-than-expected fiscal fourth-quarter earnings results. It also brought back its quarterly dividend during the first quarter of fiscal 2022 of about 68.8 cents per share.
- Squarespace (Symbol: SQSP)— Shares of the website building company surged 14.25% Thursday after debuting on the New York Stock Exchange on Wednesday. Squarespace went public through a direct listing.
- Petco (Symbol: WOOF)— Petco shares rose, then closed 1.05% lower after topping Wall Street forecasts on first-quarter earning results. The pet products retailer posted quarterly earnings of 17 cents per share compared with analysts’ estimates of 9 cents a share, and beat revenue projections. Petco said it gained a multiyear high of 1.2 million net new customers during the quarter.
- Coinbase (Symbol: COIN)— Shares of the cryptocurrency exchange rose 3.83%. Ark Invest’s Cathie Wood purchased $38 million worth of Coinbase in various funds on Wednesday, boosting sentiment. Plus, Wedbush began coverage of the stock with an outperform rating, saying the volatility in bitcoin should not scare investors away from Coinbase’s strong underlying business.
- Chipotle Mexican Grill (Symbol: CMG)— The restaurant chain’s shares jumped 2.65% after UBS upgraded the stock to buy from neutral. The investment firm said in a note to clients that Chipotle should see in-store dining improve as the reopening continues and digital sales will still remain strong.
- ViacomCBS (Symbol: VIAC)— The media stock climbed 4.61% after Bank of America double upgraded the stock to buy from underperform. The firm said in a note that ViacomCBS is a likely acquisition target following the merger announcement between Discovery and AT&T’s WarnerMedia.
During Premarket hours today – (Friday – 21.05.2021):
- VF Corp (Symbol: VFC) – The company behind apparel brands like North Face, Timberland and Vans posted a mixed quarter, beating top line estimates but reporting lower-than-expected per-share profit. VF said the majority of its supply chain is operational, although it has seen isolated product delays. VF shares tumbled 6% in the premarket.
- The Buckle (Symbol: BKE) – The accessories retailer’s shares jumped 7.9% in the premarket after reporting better-than-expected profit and revenue for its latest quarter. The Buckle earned $1.16 per share, compared to a consensus estimate of 43 cents a share, helped by the reopening of its stores.
- Palo Alto Networks (Symbol: PANW) – Palo Alto reported quarterly earnings of $1.38 per share, beating estimates by 10 cents a share. The cybersecurity company’s revenue also came in above Wall Street projections. Palo Alto raised its full-year forecast amid an increase in remote working security issues and challenges. Palo Alto shares surged 5.7% in premarket action.
- Deere (Symbol: DE) – Deere rose 1.1% in premarket trading after beating estimates on the top and bottom line and raising its full-year forecast. Deere earned $5.68 per share for its fiscal second quarter, compared to a consensus estimate of $4.52 a share. Revenue also beat estimates as a rebounding global economy boosts demand for farm and construction equipment.
- Foot Locker (Symbol: FL) – Foot Locker shares rallied 3.3% in the premarket after the footwear and apparel retailer reported quarterly profit of $1.96 per share. That was well above the $1.09 a share consensus estimate, with revenue also topping forecasts and comparable-store sales surging a better than expected 80.3%.
- Deckers Outdoor (Symbol: DECK) – Deckers earned $1.18 per share for its fiscal fourth quarter, well above the consensus estimate of 64 cents a share. The footwear and apparel maker — which counts UGG and Teva among its brand names — also reported better-than-expected revenue, but issued a mixed outlook. Deckers rallied 6% in the premarket.
- Ross Stores (Symbol: ROST) – Ross Stores reported first-quarter earnings of $1.34 per share, compared to an 88 cents a share consensus estimate. The discount retailer’s revenue came in well above forecasts. Results got a boost from stimulus payments to consumers and an overall improvement in the economic environment. Ross also announced a new $1.5 billion stock buyback program, and the stock added 1.4% in premarket trading.
- Applied Materials (Symbol: AMAT) – Applied Materials came in 12 cents a share above estimates, with quarterly profit of $1.63 per share. The maker of semiconductor manufacturing equipment reported better-than-expected revenue as well. Applied Materials also gave an upbeat full-year forecast, with chip manufacturers trying to ramp up production in the face of a worldwide chip shortage. Applied Materials added 1.1% in the premarket.
- Moderna (Symbol: MRNA) – Moderna’s Covid-19 vaccine was officially approved by regulators in Japan and South Korea. Japan also gave approval to the Covid-19 vaccine produced by AstraZeneca (Symbol: AZN) and Oxford University. Moderna was up 1.5% in the premarket.
- Carnival (Symbol: CCL) – Carnival said its flagship brand — as well as its Holland America line — would resume Alaska cruises in July. The legislation temporarily waives the rule that required Alaska cruises to make a stop in Canada. Carnival shares gained 1.6% in premarket trading.
- Oatly (Symbol: OTLY) – Oatly soared 5.9% in premarket trading following the oat milk maker’s debut Wall Street session. Oatly’s IPO was priced at $17 per share, with the first trade at $22.12 and a closing Thursday price of $20.20.
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