During Market hours yesterday — (Tuesday – 09.02.2021):

  • The Dow (Symbol: DIA) went up 0.01%. The S&P 500 (Symbol: SPY) went down 0.1% and the Nasdaq (Symbol: QQQ) dropped 0.02%
  • Electronic Arts (Symbol: EA), Glu Mobile (Symbol: GLUU) – The video game stocks rose on Tuesday after EA announced that it had agreed to acquire Glu for $12.50 per share, giving the company a larger foothold in the mobile gaming space. Shares of EA rose 2.6%, while those for Glu surged nearly 35% to trade near the offer price.
  • Simon Property Group (Symbol: SPG) – Shares of the mall operator gained 3.7% after Simon Property gave an optimistic outlook for 2021. Looking ahead, the company said it anticipates a recovery in retail tenants as well as an improvement in rent collection rates.
  • Coty (Symbol: COTY) – The cosmetics company’s shares slid more than 15% after Coty said revenue fell 16% year over year. The company did, however, beat earnings estimates during the second quarter. Coty earned an adjusted 17 cents per share, compared to the 7-cent profit analysts were expecting. Revenue slightly missed estimates, coming in at $1.42 billion versus the expected $1.43 billion.
  • GameStop (Symbol: GME) – Shares of the video game retailer continued their retreat from a Reddit-fueled spike, falling 16% to trade at roughly $50 per share. The stock closed at $325 per share on Jan. 31.
  • Hanesbrands (Symbol: HBI) – Shares of Hanesbrands popped nearly 25% following the clothing company’s strong quarterly earnings, boosted by sales in its domestic outerwear department and growth in its Champion brand. Hanesbrands reported earnings of 38 cents per share, 9 cents above estimates, according to Refinitiv. Revenue came in at $1.8 billion, higher than the forecast $1.64 billion.
  • Cleveland-Cliffs (Symbol: CLF) – Shares of the steel producer dropped more than 8% after the company announced it was holding a secondary stock offering of 60 million shares. The offering includes 20 million shares from the company and 40 million shares from shareholder ArcelorMittal. The company is also issuing an additional $1 billion in debt. The company said it plans to use the funds raised to retire existing debt.
  • Take-Two Interactive (Symbol: TTWO) – The video game stock fell more than 6% despite the company reporting higher-than-expected revenue for its fiscal third quarter. Take-Two reported $814 million in net bookings for the period, while analysts surveyed by Refinitiv were expecting $747 million. MKM Partners said in a note that lack of visibility into Take-Two’s pipeline was a negative for the stock.
  • Canopy Growth (Symbol: CGC) – The marijuana stock jumped almost 12% after Canopy’s third-quarter revenue topped expectations. The company reported $153 million revenue, while analysts surveyed by Refinitiv had penciled in $150 million. That mark was a 23% improvement from the same quarter last year.
  • Jack Henry & Associates (Symbol: JKHY) – Shares of the financial services tech company dropped 5.5% after the company’s second-quarter revenue came in lighter than expected. The company reported 94 cents in earnings per share and $422.4 million in revenue. Analysts surveyed by FactSet expected 86 cents per share and $432.7 million in revenue.
  • Carrier Global (Symbol: CARR) – Shares of Carrier Global sunk more than 6% after missing Wall Street’s estimates for its fourth quarter earnings. The company reported earnings of 31 cents per share, missing estimates of 36 cents per share, according to Refinitiv.

During Premarket hours today – (Wednesday – 10.02.2021):

  • Coca-Cola (Symbol: KO) – Coca-Cola reported quarterly earnings of 47 cents per share, 5 cents a share above estimates. The beverage giant’s revenue essentially came in line with Wall Street forecasts. The company saw a year-over-year decline in revenue, income and case volume, but noted sequential improvements amid a challenging environment due to the pandemic.
  • Under Armour (Symbol: UAA) – The athletic apparel maker earned 12 cents per share, compared to analysts’ forecasts of a 7 cents per share loss. Revenue also beat estimates, amid an online sales surge.
  • General Motors (Symbol: GM) – The automaker beat estimates by 29 cents a share, with quarterly profit of $1.93 per share. Revenue came in above estimates as well. GM characterized the quarter as a strong one despite production interruptions caused by the pandemic. The company also issued a lower-than-expected full-year outlook, however, due to the ongoing worldwide shortage of semiconductors.
  • Twitter (Symbol: TWTR) – Twitter shares are surging in premarket trading, after the company reported quarterly earnings of 38 cents per share, 7 cents a share above estimates. Revenue was also above forecasts, although Twitter’s user growth rate of 27% missed analyst estimates and it warned that growth would slow in upcoming quarters.
  • Lyft (Symbol: LYFT) – Lyft stock is up more than 10% premarket trading, with the ride-sharing service posting a smaller-than-expected loss. Lyft reported a quarterly loss of 58 cents per share, 14 cents a share smaller than anticipated. Revenue was above estimates.

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