During Market hours yesterday — (Thursday – 27.05.2021):
U.S. weekly jobless claims total 406,000, vs 425,000 estimate
- The Dow (Symbol: DIA) edged 0.39%. The S&P 500 (Symbol: SPY) rose 0.05% and the Nasdaq (Symbol: QQQ) slid 0.37%.
- Ford (Symbol: F)— The auto stock jumped 7.05% following an 8% rally in the previous session. Thursday’s gain came after RBC upgraded the stock to outperform from sector perform, saying Ford’s updated business strategy should bring investors off the sidelines as the company’s electric-vehicle future becomes more clear.
- Dollar Tree (Symbol: DLTR)— Dollar Tree shares dropped 7.71%, despite the company beating Wall Street’s expectations on the top and bottom lines for its latest quarter, according to Refinitiv. The retailer issued a full-year outlook lower than analysts’ projections.
- Dollar General (Symbol: DG)— Shares of the discount store rose 2.21% after the company reported quarterly earnings of $2.82 per share. Analysts were expecting earnings of $2.19 a share, according to Refinitiv. Dollar General also raised its full-year forecast, citing enhanced performance from the most recent round of government stimulus checks.
- Boeing (Symbol: BA) and General Electric (Symbol: GE)— Shares of Boeing and General Electric rose after airliner manufacturer Airbus announced ambitious production plans with a goal of 64 A320 models per month by the second quarter of 2023. Boeing shares gained 3.87% and General Electric shares rose 7.09% following the announcement.
- Okta (Symbol: OKTA)— Okta shares tumbled 9.79% after the maker of identity management software projected a wider-than-expected loss for the current quarter. Okta also announced the departure of chief financial officer Mike Kourey.
- Airbnb (Symbol: ABNB)— Shares of Airbnb gained 6.25% after RBC initiated coverage of the stock with a “buy” rating. The online platform announced several changes to its platform Monday focused on flexibility ahead of an expected travel boom as pandemic restrictions ease.
- General Motors (Symbol: GM)— The Detroit automaker’s stock was up 2.91% after announcing it will restart production at five assembly plants in North America next week, which had halted production because of a global semiconductor chips shortage. It also said its Bupyeong 1 Assembly in Korea, which has operated at half capacity since April 26, will resume full production next week.
- Occidental Petroleum (Symbol: OXY)— The energy stock rose 3.08% after Goldman Sachs upgraded Occidental to buy from neutral. The investment firm said that higher oil prices should allow Occidental to cut its debt load.
During Premarket hours today – (Friday – 28.05.2021):
- AMC Entertainment (Symbol: AMC) – The movie theater operator’s shares jumped another 15.4% in premarket trading, following four straight days of gains and a nearly 36% surge in Thursday’s session alone. AMC – popular among the so-called “meme” stocks – has more than doubled this week.
- Ulta Beauty (Symbol: ULTA) – Ulta Beauty reported quarterly earnings of $4.07 per share, more than twice the $1.95 a share consensus estimate. The cosmetics retailer reported better-than-expected revenue as well and Ulta raised its full-year guidance, with cosmetics sales rising as the pandemic recedes. Its stock jumped 6% in premarket action.
- Salesforce.com (Symbol: CRM) – Salesforce shares rallied 5.2% in the premarket after it reported quarterly earnings of $1.21 per share, topping the 88 cents a share consensus estimate. The business software giant’s revenue exceeded analysts’ forecasts as well, helped by strength in its “Customer 360” platform.
- Boeing (Symbol: BA) – Boeing fell 1.2% in the premarket on news that the jet maker had halted deliveries of its 787 Dreamliner. Federal regulators want more information about Boeing’s proposed solutions to previously identified quality control issues.
- Big Lots (Symbol: BIG) – The discount retailer initially gained ground but then fell 1.5% in premarket trading, despite reporting a better-than-expected quarter. Big Lots earned $2.62 per share, compared to a consensus estimate of $1.69 a share. Revenue topped estimates as well. Comparable-store sales rose 11.3, compared to a consensus FactSet estimate of 5.7%.
- Hibbett Sports (Symbol: HIBB) – The sporting goods retailer’s shares surged 5.8% in the premarket after it reported quarterly earnings of $5.00 per share, beating the consensus estimate of $2.77. Revenue exceeded expectations as well amid an 87.3% surge in same-store sales. Hibbett also raised its full-year forecast in anticipation of benefiting from pent-up demand.
- HP Inc. (Symbol: HPQ) – HP benefited from elevated computer demand, beating estimates by 4 cents a share with quarterly profit of 93 cents per share. Revenue topped estimates as well. HP also benefiting from better-than-expected results in its printer business. HP raised its full-year guidance, but also warned of the possible chip shortage impact, prompting a 5.6% drop in the stock in the premarket.
- Gap (Symbol: GPS) – Gap reported a quarterly profit of 48 cents per share, surprising analysts who had expected a loss of 5 cents per share. The apparel retailer’s revenue also beat estimates, and the company issued an upbeat forecast amid strength in categories like activewear and dresses. Despite the upbeat results, Gap fell 1.3% in the premarket.
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