During Market hours Yesterday — (Tuesday – 03.08.2021):
- The Dow (Symbol: DIA) raised 0.79%. The S&P 500 (Symbol: SPY) went up 0.81% and the Nasdaq (Symbol: QQQ) gained 0.61%.
- Robinhood (Symbol: HOOD)— Shares of the newly public stock-trading app rose 24.2% trading on Tuesday. Robinhood rose above its IPO price of $38 per share, to trade above $44 per share. ARK Invest’s Cathie Wood has been buying shares of HOOD since its IPO. The Menlo Park, California-based company is a “top traded stock” on Fidelity, which is generally a good proxy for individual investor interest on a given day.
- Take-Two Interactive Software (Symbol: TTWO)— The video game company’s share price dropped 7.7% after the firm issued a weak outlook and announcing delays in new releases for some of its games. Still, Take-Two Interactive’s quarterly earnings and revenue both came in above estimates, according to Refinitiv.
- American Airlines (Symbol: AAL)– Shares of the airline company dipped more than 2%, but closed down just 0.5%, as a jump in Covid cases weighed on areas of the market that could be hit hardest by new lockdown measures. The company has also faced disruptions from inclement weather and staffing constraints. United Airlines and Delta Air Lines also traded lower on Tuesday.
- Alibaba (Symbol: BABA)— The Chinese e-commerce giant saw its shares fall 1.35% after reporting a revenue miss. Alibaba notched revenue of $31.8 billion in the three months to the end of June, missing estimates of around $32.4 billion, according to the FactSet consensus.
- Simon Property Group (Symbol: SPG)— Shares of the U.S. mall owner rose 2.55% after the company’s strong quarterly earnings report. Simon Property posted revenue of $1.16 billion, compared with the $1.14 billion that analysts expected, according to Refinitiv. The company said sales at its shopping malls and outlet centers bounced back to pre-pandemic levels in its latest fiscal quarter.
- Royal Caribbean (Symbol: RCL)– Royal Caribbean shares came under pressure and slid 1.3% amid concerns about a rise in Covid cases. Last week the company said that six passengers on board one of its cruises tested positive for Covid. Norwegian Cruise and Carnival Corporation also fell on Tuesday.
- Under Armour (Symbol: UAA)— Shares of Under Armour gained 7.5% after the athletic apparel retailer’s second-quarter earnings and sales topped analysts’ estimates. The company reported adjusted earnings of 24 cents per share on revenue of $1.35 billion. Analysts expected earnings of 6 cents per share on revenue of $1.21 billion, according to Refinitiv. Under Armour also hiked its revenue outlook.
- Clorox (Symbol: CLX)– Clorox sunk 9.46% after the household products maker missed top and bottom line estimates for its latest quarter. Clorox reported adjusted earnings of 95 cents per share on revenue of $1.8 billion. Analysts were looking for earnings $1.35 per share on revenue of $1.92 billion, according to Refinitiv. Clorox’s sales dropped off from a year ago during the height of the pandemic when consumers stocked up on its cleaning and disinfecting products.
- Eli Lilly (Symbol: LLY)— Shares of the pharmaceutical company rose 3.8% despite missing analyst earnings estimates in its quarterly report. Eli Lilly reported earnings of $1.87 per share, below the $1.89 per shares expected on The Street. Revenue topped estimates.
During Premarket hours today – (Wednesday – 04.08.2021):
- General Motors (Symbol: GM) – General Motors missed the consensus estimate of $2.23 per share with an adjusted second-quarter profit of $1.97 per share, though revenue did top Wall Street forecasts. GM did raise its forecast for the remainder of the year, based on strong demand and pricing. GM initially fell 3% in the premarket but then bounced back to recover most of that loss.
- CVS Health (Symbol: CVS) – CVS earned an adjusted $2.42 per share for the second quarter, beating the $2.06 consensus estimate, with revenue beating forecasts as well. The drug store and pharmacy benefits company also saw same-store sales rise a better than expected 12.3%. Separately, CVS also announced it was raising its minimum wage for employees to $15 per hour.
- Kraft Heinz (Symbol: KHC) – Kraft Heinz beat estimates by 6 cents with adjusted quarterly earnings of 78 cents per share, while the food producer’s revenue also exceeded estimates. Demand continued to be strong during the quarter for the company’s snacks and packaged meals.
- Tupperware (Symbol: TUP) – Tupperware shares jumped 2.5% in the premarket, after beating on the top and bottom lines for the second quarter. The maker of household storage products earned an adjusted 95 cents per share, well above the 57 cent consensus estimate.
- Robinhood (Symbol: HOOD) – The trading platform’s stock soared 13.1% in premarket trading, on top of a 24.2% gain in Tuesday trading, when it rose above its $38 per share IPO price for the first time since going public last Thursday. It was also among yesterday’s most heavily traded stocks.
- Activision Blizzard (Symbol: ATVI) – Activision Blizzard beat estimates by 15 cents with adjusted quarterly earnings of 91 cents per share and the videogame producer’s revenue was slightly above Wall Street forecasts. It also gave an upbeat forecast, anticipating continued strong demand for popular franchises like “Candy Crush” and “Call of Duty”. Shares rallied 5.6% in premarket trading.
- Amgen (Symbol: AMGN) – Amgen earned an adjusted $4.38 per share for its latest quarter, compared with a consensus estimate of $4.09. The biotech giant’s revenue topped analyst estimates as well, although it said visits and procedures remain below pre-pandemic levels. Amgen also said it is in a dispute with the IRS, fighting a claim that it owes $3.6 billion in back taxes.
- Lyft (Symbol: LYFT) – Lyft reported an adjusted quarterly loss of 5 cents per share, smaller than the 24 cent loss predicted by analysts, with the ride-hailing service coming in with better-than-expected revenue. Lyft saw strong ride-hailing demand and did reach profitability as measured by earnings before interest, taxes, depreciation and amortization (EBITDA).
- Match Group (Symbol: MTCH) – Match Group fell 6 cents shy of estimates with quarterly earnings of 46 cents per share, although the operator of Tinder and other dating services did see revenue exceed forecasts. Revenue growth for Tinder is accelerating as vaccination rates rise, but Match said recovery is lagging in some important overseas markets. Shares fell 4% in premarket trading.
- Caesars Entertainment (Symbol: CZR) – Caesars earned 34 cents per share for its latest quarter, surprising analysts who had expected a loss of 18 cents per share. The casino operator’s revenue exceeded estimates as well, thanks to a strong rebound in the Las Vegas market. Caesars added 2% in premarket action.
- Affirm Holdings (Symbol: AFRM) – Affirm added another 2.4% in the premarket, after jumping 3% yesterday. The payment service’s shares are getting a boost from a Bloomberg report that it will partner with Apple (AAPL) to offer “buy now, pay later” services for Canadian purchases of Apple devices.
- Avis Budget (Symbol: CAR) – Avis Budget rose 1.9% in premarket trading after reporting what it called the best quarter in its history, with surging demand and higher rental prices leading to a tripling in sales. Adjusted earnings per share came to $5.90, compared to a consensus estimate of $1.21.
- Live Nation (Symbol: LYV) – Live Nation said sales for its latest quarter surged nearly eight-fold, as live events returned amid an increase in vaccinations. The live event promoter said concerts and other events were selling out quickly, and at ticket prices that were 10% above pre-pandemic levels. Live Nation gained 2.3% in the premarket.
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