During Market hours yesterday — (Tuesday – 16.03.2021):
- The Dow (Symbol: DIA) went down 0.4%. The S&P 500 (Symbol: SPY) slid 0.1% and the Nasdaq (Symbol: QQQ) popped 0.6%
- Ulta Beauty (Symbol: ULTA)— The cosmetics retailer’s shares dipped more than 3% after Guggenheim downgraded Ulta to neutral from buy. The Wall Street firm said it was concerned about profit margin uncertainty amid rising competitive pressure on digital platforms.
- Starbucks (Symbol: SBUX)— Shares of the coffee shop chain rose 2.2% after the stock was upgraded to buy from neutral by BTIG. The firm said in a note to clients that it expects an accelerated restaurant reopening and the new federal stimulus package will lead to increased earnings forecasts for Starbucks.
- DraftKings (Symbol: DKNG)— The betting company’s shares tanked 1% after DraftKings said it priced its new debt offering of $1.1 billion in convertible senior notes. The company had initially planned a $1 billion offering.
- Nikola Corp. (Symbol: NKLA)— The vehicle design company’s shares fell 7% after the company announced a $100 million common stock offering in a filing with the Securities and Exchange Commisssion. Nikola said proceeds will be invested in company infrastructure and general business purposes.
- AstraZeneca (Symbol: AZN)— AstraZeneca shares rose 2.6% after a report said its Covid-19 vaccine will be recommended for people aged 65 and older in Canada. The CBC report came after several European countries decided to pause use of the vaccine amid concerns over its side effects. Both the World Health Organization and AstraZeneca say the vaccine is safe.
- Avis Budget (Symbol: CAR)— Avis Budget, meanwhile, lost 7.6% midday after Morgan Stanley downgraded the equity to “equal-weight” from “overweight.”
During Premarket hours today – (Wednesday – 17.03.2021):
- Lands’ End (Symbol: LE) – The apparel retailer reported quarterly earnings of 60 cents per share, topping the 56 cents a share consensus estimate. Revenue also topped analysts’ forecasts. Lands’ End forecast a smaller-than-expected loss for the current quarter and full-year earnings that exceed consensus.
- Lennar (Symbol: LEN) – Lennar reported quarterly earnings of $2.04 per share, beating the consensus estimate of $1.71 a share. The homebuilder’s revenue beat estimates as well, helped by low interest rates and solid demand. The company said that demand remains strong despite a recent rise in rates.
- Coupa Software (Symbol: COUP) – Coupa earned 17 cents per share for its latest quarter, compared to expectations of an 11 cents per share loss. The provider of financial management software’s revenue came in above forecasts, in spite of what the company calls a difficult macroeconomic environment.
- CrowdStrike (Symbol: CRWD) – CrowdStrike beat estimates by 5 cents a share, with quarterly earnings of 13 cents per share. Revenue came in above estimates as well. The security software company also issued an upbeat outlook.
*Any information contained in this article, including any information contained in external third party links, if any, is solely for informational purposes and does not contain, or should not be construed as containing, investment advice or an investment recommendation, or, an offer of or solicitation for any transactions in financial instruments. Past performance does not guarantee or predict future performance. Colmex Pro Ltd does not take into account your personal investment objectives or financial situation and makes no representation, and assumes no liability to the accuracy or completeness of the information provided, nor for any loss arising from any investment based on presented information.