During Market hours Yesterday — (Thursday – 23.09.2021):
- The Dow (Symbol: DIA) rose 1.48%. The S&P 500 (Symbol: SPY) also jumped 1.22% and the Nasdaq (Symbol: QQQ) went up 0.92%.
- Salesforce (Symbol: CRM)— The software company rose 7.21% after raising its full-year 2022 revenue guidance to between $26.25 billion and $26.35 billion. Analysts expected $26.31 billion. The company also gave 2023 revenue guidance of $31.65 billion to $31.80 billion.
- Darden Restaurants (Symbol: DRI)— The Olive Garden parent popped 6.1% after reporting earnings of $1.76 per share, higher than the $1.64-per-share forecast, according to Refinitiv. The company said that 27% of its quarterly sales at Olive Garden were off-premise, showing that its takeout business is still a big part of the business even after health restrictions have been lifted for many restaurants around the country.
- BlackBerry (Symbol: BB)— Shares of BlackBerry surged 10.9% after the software company’s quarterly financial results topped Wall Street expectations. BlackBerry reported a loss of 6 cents per share, compared with analysts’ expectation of 7 cents lost per share, according to Refinitiv. The company posted revenue of $175 million, topping estimates of $164 million.
- KB Home (Symbol: KBH)— Shares of the homebuilder rose 0.5% despite the company missing estimates on the top and bottom lines for the third-quarter. Revenue guidance also came in under expectations, according to StreetAccount, but Wedbush Securities said in a note that the details of the guidance may lead analysts to raise the earnings estimates.
- Norwegian Cruise Line Holdings (Symbol: NCLH), Carnival Cruise Line (Symbol: CCL)— Norwegian gained 4.9%, while Carnival was up 4.6% amid a broad risk-on shift in the stock market. Carnival also announced that it was track to be back at 50% fleet capacity by the end of October, putting it close to its previously stated goal of 65% by the start of next year.
- Joby Aviation (Symbol: JOBY)— The air taxi start-up’s shares jumped 9.3% after Morgan Stanley initiated coverage of the stock with an overweight rating. The investment firm said in a note that Joby appears to have a head-start on getting its in-development vehicles certified by regulators compared to its competitors.
- Liberty Global (Symbol: LBTYA)— Shares of the telecom conglomerate rose 4% after Jefferies upgraded the stock to buy from hold. The investment firm said in a note that it expects a significant increase in cash flow for Liberty over the next three years.
- Roku (Symbol: ROKU)– Shares of the streaming service gained 3% after Guggenheim upgraded the stock to buy from neutral. The Wall Street firm said Roku’s international expansion and improving advertising tools should help complement the company’s core business.
- Biogen (Symbol: BIIB)– The biotech stock rose 1.3% after Needham initiated coverage on the stock with a buy rating. The firm is bullish on Biogen’s controversial Alzheimer’s drug Aduhelm, saying it will be a blockbuster for the company in the long run.
- Fisker (Symbol: FSR)– The electric automaker’s stock rose 6.3% after Tudor Pickering initiated coverage of the stock with a buy rating a $19 per share price target. The investment firm said its rating was based on assumptions for production and sales, partnerships and meeting timeline targets on developmental milestones.
During Premarket hours today – (Friday – 24.09.2021):
- Robinhood (Symbol: HOOD), Coinbase (Symbol: COIN) — Shares of the retail trading app and cryptocurrency exchange fell in premarket trading after China signaled that it was intensifying its crackdown on crypto. The country’s central bank said Friday that all cryptocurrency-related activities are illegal. Shares of Coinbase fell more than 3.6% while Robinhood dropped 2%.
- Nike (Symbol: NKE) — The apparel giant’s stock was under pressure on Friday after Nike cut its revenue forecasts due to supply chain issues. The company said it expects full-year sales growth in the mid-single digits for the 2022 fiscal year, down from a previous forecast of low double-digit growth. Shares of Nike fell more than 4% in premarket trading.
- Costco (Symbol: COST) — The retailer beat expectations on the top and bottom lines in its fiscal fourth-quarter report on Thursday afternoon. The company reported $3.90 in adjusted earnings per share, easily topping expectations of $3.57, and net sales for the quarter rose more than 17% year over year. The stock was slightly higher in premarket trading.
- Cheesecake Factory (Symbol: CAKE), Dave & Buster’s (Symbol: PLAY) — The restaurant stocks rose slightly in premarket trading after Jefferies upgraded the stocks to buy from hold. The firm said that full-service restaurants have seen traffic hold up well despite the spread of the delta variant.
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