During Market hours Yesterday — (Tuesday – 10.08.2021):
- The Dow (Symbol: DIA) gained 0.45%. The S&P 500 (Symbol: SPY) edged 0.12% and the Nasdaq (Symbol: QQQ) lost 0.51%.
- 3D Systems (Symbol: DDD)— The 3-D printing company’s stock surged 21.48% after it reported second-quarter earnings of 12 cents per share, beating the 5 cents a share consensus estimate, 3D said it had made it out of the company’s most challenging 12 months ever. Its reported revenue beat estimates as well.
- The RealReal (Symbol: REAL)— Shares of the luxury consignment brand plummeted by almost 18% after reporting a quarterly loss late Monday. The company reported strong gross merchandise value of $350 million, up 91% year over year and said as they restart at-home appointments, units per appointment exceed pre-pandemic levels. Still, the company missed revenue forecasts.
- AMC Entertainment (Symbol: AMC)— AMC fell 6.07% after reporting a loss late Monday of 71 cents per share, though that was less than the 91 cents per share loss analysts expected. The movie theater chain reported revenue of $444.7 million, higher than the $382.1 million analysts had expected. It also announced it will begin accepting cryptocurrencies at U.S. locations this year.
- Kansas City Southern (Symbol: KSU)— Shares of the railroad operator jumped 7.47% after Canadian Pacific Railway (Symbol: CP) raised its buyout offer to about $300 per share. The bid came three months after the companies’ merger agreement was terminated amid a rival offer from Canadian National Railway(Symbol: CNI).
- Casper (Symbol: CSPR)— Casper, the maker of sleep products, fell 16.76% Tuesday. Despite reporting record quarterly revenue that beat Wall Street forecasts, it still reported a loss for the period. The company cited strong growth in retail and direct-to-consumer sales, but also said input costs are higher and it’s experiencing supply chain difficulties.
- Sysco (Symbol: SYY)— Shares of the distribution company rose 6.5% after a better-than-expected earnings report. Sysco posted an EPS of 71 cents in its fiscal fourth quarter, compared to the 60 cents expected by analysts, according to FactSet. Revenue also came in higher than estimates.
- II-VI (Symbol: IIVI)— The maker of optoelectronic components saw its stock fall 4.35% after reporting its quarterly results. Although it reported earnings of 88 cents per share, beating analysts’ estimates by 12 cents, it also had its highest-ever backlog at the end of the quarter.
- Boston Beer (Symbol: SAM)— Shares of Boston Beer dropped 3.10% after the brewer announced a partnership with PepsiCo to create an alcoholic Mountain Dew drink. The drink, called Hard Mtn Dew, will be a flavored malt beverage containing 5% alcohol by volume.
- Aramark (Symbol: ARMK)— Shares of the business uniform and food service provider slid 1.92% after the company’s revenues came up short of expectations. Aramark reported adjusted earnings of 3 cents per share on $2.98 billion of revenue during its fiscal third quarter. Analysts surveyed by Refinitiv were looking for 1 cent per share on $3.06 billion in revenue. Organic growth was lower than expected, according to estimates from StreetAccount.
During Premarket hours today – (Wednesday – 11.08.2021):
- Canada Goose (Symbol: GOOS) – Canada Goose lost 45 cents per share (Canadian) for its fiscal first quarter, smaller than the 53 cent loss that analysts were anticipating, while the outerwear maker saw better-than-expected revenue as well. However, its loss widened compared to a year ago thanks to rising expenses, and its stock slid 2.1% in premarket trading.
- Wendy’s (Symbol: WEN) – Wendy’s rallied 3.3% in the premarket after beating top and bottom-line estimates for the second quarter. The restaurant chain earned an adjusted 27 cents per share, 9 cents above estimates, with same-store sales beating forecasts as more people returned to in-person dining.
- Perrigo (Symbol: PRGO) – The consumer health care products maker’s shares slumped 8.8% in premarket action, following a top and bottom-line miss for Perrigo’s latest quarter. Earnings came in 11 cents below estimates at an adjusted 50 cents per share, hurt by a weaker cold-and-cough season among other factors.
- Southwest Airlines (Symbol: LUV) – The airline said it is seeing an increase in cancellations this month due to rising concerns over the Covid-19 Delta variant, making it difficult to be profitable for the current quarter. Southwest fell 1.9% in the premarket.
- Coinbase (Symbol: COIN) – Coinbase reported an adjusted quarterly profit of $3.45 per share, beating the consensus estimate of $2.33 in its first report as a public company. The cryptocurrency exchange operator also saw better-than-expected revenue of $2 billion, up from $178 million a year earlier. Trading volume during the June quarter jumped 21% from the prior 3 months, and its shares rose 2.3% in premarket trading.
- WW International (Symbol: WW) – WW tumbled 22.3% in premarket trading after quarterly profit and revenue fell short of analyst forecasts. The company, formerly known as Weight Watchers, earned an adjusted 48 cents per share for the quarter, 17 cents shy of estimates, with membership levels below WW’s own forecasts. CEO Mindy Grossman said the company did have a comprehensive plan to optimize performance during the second half of the year.
- FuboTV (Symbol: FUBO) – FuboTV lost 68 cents per share for its latest quarter, wider than the 51-cent loss that analysts were anticipating. However, the sports-focused streaming service did report better-than-expected revenue and gave an upbeat forecast including a projected doubling of full-year revenue. FuboTV shares surged 13.4% in premarket action.
- Norton LifeLock (Symbol: NLOK) – Norton LifeLock is buying rival cybersecurity firm Avast for up to $8.6 billion in cash and stock. The deal will expand Norton LifeLock’s portfolio of consumer cybersecurity software offerings. Shares jumped 4.6% in the premarket.
- Poshmark (Symbol: POSH) – Poshmark reported a quarterly loss of 4 cents per share, 2 cents less than Wall Street had forecast, while the online retailer of secondhand goods saw revenue top estimates. However, Poshmark did forecast current-quarter revenue below analyst forecasts and said it would see a hit from Apple’s new privacy controls. Poshmark slumped 8.2% in premarket trading.
- ThredUp (Symbol: TDUP) – ThredUp lost 15 cents per share for its latest quarter, a penny less than anticipated, while the online pre-owned fashion retailer reported better-than-expected revenue and gave an upbeat forecast. The upbeat results helped the stock rally by 7.3% in the premarket.
- Alight (Symbol: ALIT) – Financial services company Voya Financial (Symbol: VOYA) is exploring a potential acquisition of the newly public employee benefits administrator, according to people with knowledge of the matter who spoke to Bloomberg. It isn’t clear whether active talks are underway and there is no guarantee a deal will be reached. Alight tacked on 2.6% in premarket trading.
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