During Market hours yesterday — (Tuesday – 11.05.2021):
- The Dow (Symbol: DIA) went down 1.4%. The S&P 500 (Symbol: SPY) slid 0.9% and the Nasdaq (Symbol: QQQ) sank 0.1%
- Palantir (Symbol: PLTR) — Shares of the secretive analytics and software firm rose 9.4% after it reported 49% revenue growth for its first quarter, thanks in part to the economic recoveries in the U.S. and the U.K. Palantir, which has both government and corporate clients, booked sales of $341 million in the quarter and now has 149 customers.
- Roblox (Symbol: RBLX) — Shares of the online gaming platform jumped 21% after it reported a first-quarter loss of 46 cents per share on revenues of $387 million, a 140% jump on a year-over-year basis. The company also said its average daily active users were 42.1 million during the quarter, up 79% year over year.
- Tesla (Symbol: TSLA) — The electric vehicle maker, the poster child for growth stocks with lofty valuations and expectations, fell about 1.9%. A Reuters report that Tesla halted plans to expand its Shanghai plant into an export hub, also fueled the sell-off.
- Novavax (Symbol: NVAX) – Shares of the drug maker slid 13.9% after the company pushed back its timeline for seeking Covid-19 vaccine approvals. The company is not planning to apply for regulatory approval in the U.S., U.K. and Europe until the third quarter. Novavax also pushed back its timeline for full production to the fourth quarter.
- Affirm (Symbol: AFRM) – Shares of the loan company dipped more than 2% after the company missed third quarter earnings estimates. Affirm posted a loss of $1.06 per share, larger than the 29-cent per share expected loss. The company did, however, beat revenue estimates. Affirm posted revenue of $230.7 million, which was ahead of the expected $198.2 million.
- RealReal (Symbol: REAL) – Shares of the luxury consignment store dropped 19% after RealReal announced that its CFO was leaving the company. BTIG also downgraded the stock to neutral, citing “stubbornly high” negative margins and a lack of further catalysts. The company reported first-quarter results on Monday that were largely in line with expectations.
- Hanesbrands (Symbol: HBI) – The apparel stock retreated more than 12% despite Hanesbrands beating expectations on the top and bottom lines in its first quarter report. The company also announced a new strategic plan that included a goal of growing its Champion brand from $2 billion in annual revenue to $3 billion by 2024.
During Premarket hours today – (Wednesday – 12.05.2021):
- Amazon.com (Symbol: AMZN) – A European Union court ruled in Amazon’s favor in a $303 million tax case, scrapping an EU mandate that Amazon pay back taxes to Luxembourg. The court rejected the contention that Amazon had received an unfairly favorable tax deal.
- Wendy’s (Symbol: WEN) – Wendy’s shares jumped 4.2% in premarket trading after it beat estimates on the top and bottom lines, as well as reporting better-than-expected comparable-restaurant sales for its latest quarter. Wendy’s also raised its full-year outlook, boosted its dividend, and increased its share repurchase plan.
- fuboTV (Symbol: FUBO) – FuboTV shares soared 22.5% in the premarket after the provider of streaming sports programming reported better-than-expected quarterly revenue and raised its full-year outlook. It reported a first quarter loss of 59 cents per share, wider than the 46 cents a share loss that Wall Street analysts had expected.
- Wolverine World Wide (Symbol: WWW) – The footwear and apparel maker matched estimates, with quarterly earnings of 40 cents per share. Revenue was slightly below estimates, but Wolverine raised its full-year earnings and sales outlook. Shares fell 2.7% in the premarket.
- Electronic Arts (Symbol: EA) – Electronic Arts earned $1.23 per share for its latest quarter, beating the consensus estimate of $1.05 a share. The video game maker’s revenue also came in above Wall Street forecasts. EA issued an upbeat annual forecast, expecting the pandemic-related momentum to continue even as Covid-related restrictions ease. Electronic Arts shares added 2% in premarket action.
- QuantumScape (Symbol: QS) – QuantumScape lost 20 cents per share during its first quarter, compared to a consensus forecast of a 7 cents per share loss. The startup battery maker did not report any revenue for the quarter, in line with Wall Street’s expectations, although the company said it met a contractual milestone with automaker Volkswagen by delivering battery cells for further testing.
- Lemonade (Symbol: LMND) – The online insurance company’s shares tumbled 6.6% in the premarket after a lighter-than-expected current-quarter revenue projection. Lemonade matched forecasts with a first-quarter loss of 81 cents per share, while revenue exceeded estimates.
- Unity Software (Symbol: U) – The 3D content platform provider lost 10 cents per share for its first quarter, smaller than the 12 cents a share loss anticipated by Wall Street. Revenue came in above estimates. Additionally, Stifel upgraded the stock to “buy” from “hold,” noting a 52% drop from a December high and an upbeat quarterly report.
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