During Market hours Yesterday (Thursday – 26.05.2022):

  • The Dow (Symbol: DIA) went up 1.61%. The S&P 500 (Symbol: SPY) surged 2.00% and the Nasdaq (Symbol: QQQ) gained 2.77%.
  • Macy’s (Symbol: M) — Shares jumped 19.3% after the department store chain reported better-than-expected quarterly results and raised its profit guidance. Macy’s got a boost from shoppers who are snapping up apparel and other goods regardless of rising prices.
  • Twitter (Symbol: TWTR) — Twitter shares jumped 6.4% after Elon Musk increased his commitment in his takeover bid to $33.5 billion. Analysts have said the move indicates a new seriousness by the Tesla CEO and increased probability that he’ll complete the deal, which has been mired in controversy since Musk proposed it in May.
  • Lululemon (Symbol: LULU) — Shares of the athleisure company jumped 10.3% after Morgan Stanley upgraded Lululemon to overweight and said its well-positioned to perform well, even as a recession looms.
  • Nvidia (Symbol: NVDA) — The chipmaker’s stock gained 5.2% after falling earlier in the session. It came as Nvidia issued weaker-than-expected guidance for the current quarter and said it plans to slow hiring.
  • Broadcom (Symbol: AVGO) — Broadcom’s stock gained 3.6% after the semiconductor company shared its plan to buy VMware in a $61 billion cash and stock deal. The acquisition would mark one of the largest technology deals in history.
  • Kraft Heinz (Symbol: KHC) — The food and beverage company fell 6.1% after UBS downgraded the stock of fears of rising inflation and competition from private labels.
  • Alibaba (Symbol: BABA) — Alibaba shares surged 14.8% following the release of better-than-expected results for the previous quarter. The Chinese e-commerce giant reported fiscal fourth-quarter earnings of CNY7.95 per share, excluding items, on revenues of CNY204.05 billion. Analysts had anticipated earnings of CNY7.31 a share on CNY199.25 billion in revenue, according to StreetAccount.

During Premarket hours today – (Friday – 27.05.2022):

  • Big Lots (Symbol: BIG) – The discount retailer’s shares tumbled 21.2% in the premarket after missing Wall Street forecasts for quarterly earnings and revenue. The company also reported a larger-than-expected slump in comparable-store sales and issued cautious full-year guidance, saying inflationary pressures reduce discretionary spending.
  • Hibbett (Symbol: HIBB) – The sporting goods retailer’s stock slid 6.5% in premarket trading after falling short of analysts’ profit and sales estimates for the latest quarter. Hibbett said its customers had less discretionary income than in the year-earlier quarter when stimulus payments helped boost spending.
  • Pinduoduo (Symbol: PDD) – The China-based e-commerce platform operator’s quarterly results were better than expected as China’s Covid-19 lockdowns helped boost online spending. Pinduoduo rallied 8.8% in premarket action.
  • Canopy Growth (Symbol: CGC) – The cannabis producer reported a wider-than-expected quarterly loss, with revenue that also fell short of analyst forecasts. The company said it expects to be profitable on an adjusted basis in fiscal 2024. Canopy Growth slid 10.5% in premarket trading.
  • Dell Technologies (Symbol: DELL) – Dell surged 9.8% in premarket trading, following better-than-expected profit and revenue for its latest quarter. The computer hardware maker benefited from a jump in demand from businesses for desktop and laptop computers.
  • Gap (Symbol: GPS) – Gap shares slumped 17.8% premarket action after the apparel retailer slashed its full-year earnings forecast and posted a wider-than-expected quarterly loss. Gap’s results were hit by higher costs for shipping and deeper levels of discounting.
  • Ulta Beauty (Symbol: ULTA) – Ulta shares jumped 8.4% in premarket trading after the cosmetics retailer beat Street forecasts with its latest quarterly report and issued an upbeat outlook. Ulta was helped by strong demand for beauty products.

American Eagle Outfitters (Symbol: AEO) – American Eagle tumbled 13.4% in premarket trading after its quarterly profit and revenue fell short of Wall Street estimates. The apparel retailer’s CEO, Jay Schottenstein, said the quarter was a challenging one with demand well below the company’s expectations.

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