During Market hours Yesterday — (Thursday – 22.07.2021):
- The Dow (Symbol: DIA) edged 0.08%. The S&P 500 (Symbol: SPY) went up 0.21% and the Nasdaq (Symbol: QQQ) jumped 0.66%.
- DiDi (Symbol: DIA)– The Chinese ride-hailing giant’s shares shed more than 9% after Bloomberg News reported that Beijing is considering harsh penalties from a massive fine to even a forced delisting after its IPO last month. DiDi shares have fallen about 25% since its initial public offering at the end of June amid the regulatory pressure. China is conducting a cybersecurity review on the company after alleging that Didi had illegally collected users’ data.
- Blackstone Group (Symbol: BX)— Shares of the investment firm jumped over 4% after Blackstone beat estimates on the top and bottom lines for the second quarter. The company reported 82 cents in earnings per share on $2.12 billion in revenue, with total assets under management rising 21% year over year. Analysts surveyed Refinitiv were looking for 78 cents in earnings per share and $1.84 billion in revenue.
- Southwest Airlines (Symbol: LUV)— The airline’s shares dipped more than 4% despite posting a second-quarter profit after getting federal aid. Excluding special items, the airline posted a wider loss than analysts expected. The Dallas-based airline’s sales rose nearly 300% from a year earlier to to $4 billion. That was still down 32% from $5.9 billion during the same time in 2019. Net income for the second quarter totaled $348 million, compared with a $915 million loss a year earlier. The airline also warned about higher fuel prices and costs related to bringing back employees from voluntary leave in the current quarter.
- Netgear (Symbol: NTGR)– Shares of the computer equipment maker tumbled more than 10% after the company reported lower than expected sales and revenue for its latest quarter. Netgear said supply chain constraints and factory closures due to the pandemic weighed on its performance. The company also gave guidance that fell short of analyst forecasts.
- Crocs (Symbol: CROX)— Shares of Crocs jumped over 5% after the shoemaker reported blowout second-quarter earnings. The company posted quarterly adjusted earnings of $2.23 earnings per share versus $1.60 expected, according to Refinitiv. Crocs also reported record revenue of $640.8 million. The shoemaker raised its full-year guidance amid strong demand.
- Las Vegas Sands (Symbol: LVS)— The casino giant’s share price dipped more than 3% after the company missed analysts’ expectations during the second quarter. Las Vegas Sands reported a loss of 26 cents per share excluding items on revenue of $1.17 billion. Analysts surveyed by Refinitiv were expecting a loss of 16 cents per share on $1.41 billion in revenue.
- Whirlpool (Symbol: WHR)— Whirlpool’s stock slid about 1.5% despite the company beating top and bottom line estimates during the second quarter. Whirlpool earned $6.64 per share on an adjusted basis, which was ahead of the expected $5.90, according to estimates from Refinitiv. Revenue also exceeded expectations, and the company raised its full-year guidance.
- Unilever (Symbol: UL)– Unilever shares fell about 5% despite a better-than-expected earnings report for the second quarter. The consumer products giant said that an increase in commodity costs would hurt its full-year profit margins.
- Union Pacific (Symbol: UNP)– The railroad stock jumped 1.4% after the company reported better-than-expected quarterly earnings. Union Pacific posted an EPS of $2.72 for the second quarter, ahead of a FactSet estimate of $2.55 per share. Revenue also came in above expectations.
During Premarket hours today – (Friday – 23.07.2021):
- American Express (Symbol: AXP)– American Express gained 3.3% after reporting quarterly earnings of $2.80 per share. That beat the consensus estimate of $1.66, with revenue above estimates as well. Results were helped by a release of credit reserves and increased spending on travel and entertainment.
- Schlumberger (Symbol: SLB)– Schlumberger rose 2.2% after beating estimates on the top and bottom lines on a rebound in oilfield services activity. Schlumberger came in 4 cents above estimates with adjusted quarterly earnings of 30 cents per share.
- Kimberly-Clark (Symbol: KMB)– The consumer products maker reported quarterly profit of $1.47 per share, falling short of the $1.71 consensus estimate, with revenue roughly in line with forecasts. Kimberly-Clark also cut its full-year earnings forecast, pointing to higher input costs and continued pandemic driven volatility. Shares fell 3.7% in the premarket.
- Twitter (Symbol: TWTR)– Twitter gained 4.5% in the premarket after it beat estimates by 13 cents with adjusted quarterly profit of 20 cents per share. Revenue topped Wall Street forecasts as ad sales surged 87% from a year ago. Twitter also gave an upbeat current-quarter revenue forecast.
- Intel (Symbol: INTC)– Intel reported adjusted quarterly earnings of $1.28 per share, beating the consensus estimate of $1.06, with the chip maker’s revenue also scoring a beat. However, Intel also issued a forecast that disappointed some investors and also said the global chip shortage could last well into 2023. Intel shares dipped 2.2%.
- Snap (Symbol: SNAP)– Snap soared 16.7% after the social media company surprised analysts with a quarterly profit, earning an adjusted 10 cents per share amid predictions of a 1 cent per share loss. Revenue also beat estimates. Snap also reported higher-than-expected daily user metrics as well as an upbeat revenue forecast.
- Skechers (Symbol: SKX)– Skechers surged past the 52 cent consensus estimate and reported quarterly earnings of 88 cents per share, with the footwear maker also posting better-than-expected revenue. Skechers said workers returning to offices boosted demand for its “comfort technology” offerings. Skechers rallied 7.1%.
- Boston Beer (Symbol: SAM)– Boston Beer shares slumped 20.3% after the Sam Adams brewer cut its financial outlook for 2021, citing weaker than expected sales of its hard seltzer brands. In its most-recent quarter, Boston Beer earned $4.75 per share, well below the $6.69 consensus estimate, with revenue short of forecasts as well.
- Veoneer (Symbol: VNE)– The Swedish auto parts maker soared 55.3% in premarket action after it agreed to be bought by Canadian rival Magna International for about $3.8 billion in cash. The deal will help Magna in its efforts to enhance its driver assistance technology. Magna shares slipped 3.1%.
- Capital One Financial (Symbol: COF)– Capital One earned $7.62 per share for its latest quarter, well above the $4.64 consensus estimate, and the financial services company also saw revenue come in above analyst forecasts. Results were boosted by a benefit related to credit losses. Still, Capital One shares fell 1.4% in the premarket.
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