During Market hours Yesterday — (Thursday – 26.08.2021):
- The Dow (Symbol: DIA) slid 0.57%. The S&P 500 (Symbol: SPY) lost 0.59% and the Nasdaq (Symbol: QQQ) went down 0.63%.
- Salesforce (Symbol: CRM)– Salesforce shares rose 2.66% after the enterprise software maker reported fiscal second-quarter earnings and forward guidance that exceeded analysts’ expectations. Revenue rose 23% year-over-year in the quarter, the same growth as the prior quarter.
- Dollar Tree (Symbol: DLTR)– Shares of the discount retailer dropped 12.08% after it reported a mixed quarter. Dollar Tree recorded earnings of $1.23 per share, which beat analysts’ estimates of $1.00. It reported revenue of $6.34 billion, which missed estimates of $6.45 billion.
- Dollar General (Symbol: DG)– Shares of Dollar General fell 3.77% despite the discount retailer beating estimates on both top and bottom lines. Dollar General reported earnings of $2.69 per share on revenue of $8.65 billion. Analysts expected earnings of $2.59 per share on revenue of $8.61 billion, according to Refinitiv. However, Dollar General issued lower-than-expected earnings guidance for the full year.
- Autodesk (Symbol: ADSK)– The software stock slid 9.37% following its second-quarter earnings report. Autodesk beat estimates for earnings per share, but revenue was in line with expectations and its third-quarter outlook showed only small increases for both metrics.
- Williams-Sonoma (Symbol: WSM)– Shares of the retailer rose 9.34% after reporting better-than-expected earnings and revenue. Williams-Sonoma earned $3.24 per share, topping estimates of $2.61 per share, according to Refinitiv. The company made $1.95 billion in revenue last quarter, higher than the forecast $1.81 billion.
- Abercrombie & Fitch (Symbol: ANF)– Shares of Abercrombie & Fitch sunk 10.35% after the apparel retailer missed quarterly revenue expectations. The company reported revenue of $865 million, while analysts expected $879 million, according to Refinitiv. Abercrombie & Fitch topped earnings expectations by 93 cents per share with a profit of $1.70 per share.
- Zoom Video (Symbol: ZM)– Shares of the video conferencing company rose 0.86% after Morgan Stanley upgraded the stock to overweight from equal weight. The firm said in a note to clients that the market was too concerned about Zoom’s growth prospects with workers returning to the office.
- Coty (Symbol: COTY)– Shares of the cosmetics company rose 14.7% after Coty reported better-than-expected sales for its fiscal fourth quarter. The company also said it expects positive sales growth in the year ahead.
- J.M. Smucker (Symbol: SJM)– The food products stock fell 2.6% despite J.M. Smucker beating estimates on the top and bottom lines for its fiscal first quarter. The company reported adjusted earnings per share for $1.90 on $1.86 billion in revenue. Analysts surveyed by Refinitiv were looking for $1.86 per share on $1.8 billion in revenue.
- Pure Storage (Symbol: PSTG)– The information technology stock rose 13.7% after Pure Storage reported top and bottom line beats for its fiscal second quarter. Revenue was up 23% year over year, with subscription revenue growing by 31%.
During Premarket hours today – (Friday – 27.08.2021):
- Big Lots (Symbol: BIG) – The discount retailer’s shares tumbled 9.5% in premarket trading after it missed top and bottom-line estimates for its latest quarter. Big Lots earned $1.09 per share, 3 cents shy of analyst forecasts, and its comparable store sales slid a greater-than-expected 13.2%. The company also said it was hit by supply chain issues and inflation pressures.
- Hibbett Sports (Symbol: HIBB) – The athletic apparel retailer jumped 6.1% in the premarket after reporting better-than-expected sales and profit for its latest quarter, and raising its full-year forecast. Hibbett earned $2.86 per share, almost double the $1.44 consensus estimate.
- Peloton (Symbol: PTON) – Peloton slid 8.1% in the premarket, after reporting a wider-than-expected loss. The fitness equipment maker lost $1.05 per share for its latest quarter, compared with estimates of a 45-cent loss. Paid digital subscriptions fell short of estimates as well. Additionally, Peloton said in an SEC filing that it has been subpoenaed by the government for documents on injuries related to its products.
- Gap (Symbol: GPS) – Gap reported adjusted quarterly earnings of 70 cents per share, beating the 46 cents consensus estimate, and the apparel retailer’s revenue was also above Wall Street forecasts. Gap also raised its full-year guidance, largely on the strength of its Old Navy and Athleta brands. The stock rallied 8.5% in premarket trading.
- Apple (Symbol: AAPL) – Apple struck a deal with smaller developers that extends a commission cut for three years and allows them to alert consumers about alternate payment systems to Apple’s app store.
- HP Inc. (Symbol: HPQ) – HP Inc. beat estimates by 16 cents with adjusted quarterly earnings of $1.00 per share, though revenue fell below analyst forecasts. The personal computer and printer maker saw the worldwide chip shortage hurt its ability to meet demand, with the company saying it is selling everything it can produce. HP lost 4.6% in premarket action.
- Dell Technologies (Symbol: DELL) – Dell reported adjusted quarterly earnings of $2.24 per share, 21 cents above estimates, with revenue also topping analyst projections. Dell benefited from the ongoing boom in demand for personal computers and said it is dealing successfully with supply chain challenges. However, the stock fell 1.8% in the premarket.
- Workday (Symbol: WDAY) – Workday earned an adjusted $1.23 per share for its latest quarter, with the provider of cloud-based human resources and financial software also reporting better-than-expected revenue. Subscription revenue jumped more than 23% from a year earlier. Workday shares surged 7.2% in premarket trading.
- Marvell Technology (Symbol: MRVL) – Marvell came in 3 cents above estimates with an adjusted quarterly profit of 34 cents per share. However, the chip maker’s revenue merely matched Street forecasts, and its cost of goods sold jumped from a year earlier. Shares slid 3.6% in the premarket.
- Ollie’s Bargain Outlet (Symbol: OLLI) – Ollie’s plunged 13.3% in premarket trading after it fell 3 cents short of Wall Street forecasts with adjusted quarterly earnings of 52 cents per share. The discount retailer’s revenue fell short as well, with comparable store sales falling 28% from a year earlier.
- Johnson & Johnson (Symbol: JNJ) – J&J will be allowed to separate its talc-related liabilities from the rest of its business after a judge declined to prohibit the company from doing so. Personal injury lawyers had sought to prevent the move, fearing that it could put thousands of claims into bankruptcy.
- VMWare (Symbol: VMW) – VMWare reported adjusted quarterly earnings of $1.75 per share, beating the $1.64 consensus estimate, while the enterprise software company’s revenue was slightly above Wall Street forecasts. However, cloud business revenue did fall short of some analyst forecasts, and shares slid 5.7% in the premarket.
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