During Market hours yesterday — (Tuesday – 02.02.2021):
- The Dow (Symbol: DIA) went up 1.6%. The S&P 500 (Symbol: SPY) popped 1.4% and the Nasdaq (Symbol: QQQ) rose 1.6%
- GameStop (Symbol: GME) —Shares of the video game retailer swooned 60% as the speculative trading that had catapulted the stock higher last week appeared to be nearing its end. At their current price, GameStop shares are down 65% so far this week having erased the majority of last week’s 399% rally.
- AMC Entertainment (Symbol: AMC) — Shares of the brick-and-mortar retailer were down 41% on Tuesday. After rallying 300% in a short squeeze last week, speculative buying appears to be losing steam.
- Harley-Davidson (Symbol: HOG) — The motorcycle stock slid 17.1% after the company missed on the top and bottom lines for its fourth quarter. Harley-Davidson reported a loss of 63 cents per share on $725 million in revenue. Analysts surveyed by Refinitiv were looking for a positive 14 cents in earnings per share and $774 million of revenue.
- Exxon (Symbol: XOM) – Shares of the oil giant gained 1.5% following the company’s fourth quarter earnings results. Exxon said it lost $20 billion during the period for its fourth straight quarter of losses. The company earned 3 cents per share excluding items during the fourth quarter, which was ahead of the 1 cent profit analysts surveyed by Refinitiv expected.
- Alibaba (Symbol: BABA) – Shares of the e-commerce giant slid 3.8% despite the company beating top and bottom line results during the third quarter. Alibaba earned $22.03 per share excluding items, which was above the expected $20.87 per share profit. Revenue came in at $221 billion, compared with the expected $214.4 billion, according to analysts surveyed by Refinitiv.
- Pfizer (Symbol: PFE) — Pfizer’s shares fell 2.2% despite projecting that it will make some $15 billion in Covid-19 vaccines sales this year. The pressure on the stock also came notwithstanding an accelerated timeline for U.S. vaccine deliveries. Pfizer plans to offload 200 million doses of its coronavirus vaccine to the U.S. by May, earlier than its initial forecast of July.
- UPS (Symbol: UPS) — Shares of the delivery company gained 2.5% after UPS beat Wall Street estimates on the top and bottom line for the fourth quarter. The company reported $2.66 in earnings per share on $24.9 billion of revenue. Analysts surveyed by Refinitiv were expecting $2.14 in earnings per share and $22.87 in revenue.
- ConocoPhillips (Symbol: COP) – Shares of the energy stock jumped 0.6% after the company reported a narrower-than-expected quarterly loss. ConocoPhillips posted a loss of 19 cents a share in the fourth quarter, better than a 25-per-share loss expected by analysts, according to FactSet. Its revenue also came in above expectations.
- Emerson Electric (Symbol: EMR) — Shares of the company gained 3.6% after beating on the top and bottom lines of its earnings. Emerson Electric earned 83 cents per share on revenue of $4.16 billion. Wall Street expected earnings of 68 cents on revenue of $3.98 billion, according to Refinitiv.
- SiriusXM (Symbol: SIRI) – Shares of the satellite radio operator slid 1% after the company reported quarterly earnings and revenue that topped Wall Street analysts’ estimates, according to Refinitiv. SiriusXM also cited a growth in paying subscribers and increased audience penetration boosted by its Pandora and Stitcher units.
During Premarket hours today – (Wednesday – 03.02.2021):
- Spotify (Symbol: SPOT) – The music streaming service reported a wider-than-expected quarterly loss, although its revenue did beat analyst forecasts. The number of premium subscribers jumped by 24% to a better-than-expected 155 million. The stock fell 7% in premarket trading as of 7:32 a.m. ET.
- Capri Holdings (Symbol: CPRI) – The company behind Michael Kors and other luxury brands earned $1.65 per share for its latest quarter, beating the consensus estimate of $1.01 a share. Revenue came in below forecasts, however, due in part to coronavirus-related closures in major European markets. The shares added 7% in premarket trading as of 7:32 a.m. ET.
- Boston Scientific (Symbol: BSX) – The medical device maker missed estimates by 8 cents a share, with quarterly earnings of 23 cents per share. Revenue also came in below Wall Street forecasts and Boston Scientific issued a weaker-than-expected current-quarter outlook. The stock lost 2% in premarket trading as of 7:32 a.m. ET.
- Scotts Miracle-Gro (Symbol: SMG) – The maker of lawn and garden products reported a per-share profit of 39 cents per share, compared to Wall Street forecasts of a 77 cents per share loss. Revenue came in well above estimates as consumer sales surged 147%. This is the first time Scotts has ever posted a profit during its fiscal first quarter. The shares gained 3% in premarket trading as of 7:32 a.m. ET.
- Amazon.com (Symbol: AMZN) – CEO Jeff Bezos is stepping down from that role to become executive chairman, and will be replaced by Amazon Web Services chief Andy Jassy. Separately, Amazon reported quarterly earnings of $14.09 per share, well above the consensus estimate of $7.23. Revenue also topped forecasts and exceeded $100 billion for the first time, helped by a surge in online shopping during the holiday season. The shares were up 2% in premarket trading as of 7:32 a.m. ET.
- Alphabet (Symbol: GOOGL) – Alphabet earned $22.30 per share for its latest quarter, compared to a consensus estimate of $15.90 a share. The Google parent’s revenue beat estimates as well. Alphabet reported strong results for ad sales, although it saw losses in its cloud division as it broke out figures separately for that unit for the first time. The stock popped 7% in premarket trading as of 7:32 a.m. ET.
- Electronic Arts (Symbol: EA) – Electronic Arts shares are falling in pre-market trading even after the videogame company raised its annual sales forecast, projecting strong sales of sports-related titles like “Madden NFL 2021” and “FIFA 2021.” Analysts say that investors may have been anticipating stronger results and a more upbeat forecast, given the strength of the market and the stock’s recent rise. The stock lost 3% in premarket trading as of 7:32 a.m. ET.
- CureVac (Symbol: CVAC) – The German biotech company struck a partnership agreement with drug maker GlaxoSmithKline (GSK) to develop next-generation Covid-19 vaccines. Those vaccines would target multiple variants of the Covid-19 various in one treatment. The stock gained 6% in premarket trading as of 7:32 a.m. ET.
- Amgen (Symbol: AMGN) – The biotech firm issued a weaker-than-expected full-year outlook, saying the pandemic would continue to impact sales. Amgen also paused or halted enrollment in three trials involving cancer drugs. The stock fell 2% in premarket trading as of 7:32 a.m. ET.
- Match Group (Symbol: MTCH) – Match topped Wall Street’s revenue estimates for its latest quarter, although profit merely matched forecasts. The parent of Tinder and other dating apps saw increased usage in areas where the pandemic has lessened. The lost 4% in premarket trading as of 7:32 a.m. ET.
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