During Market hours yesterday — (Tuesday – 18.05.2021)
- The Dow (Symbol: DIA) went down 0.74%. The S&P 500 (Symbol: SPY) slid 0.86% and the Nasdaq (Symbol: QQQ) sunk 0.68%.
- Walmart (Symbol: WMT)— Shares of the big box retailer rose 2.17% after Walmart reported first-quarter earnings that surged past Wall Street’s estimates. Walmart reported adjusted earnings per share of $1.69, versus $1.21 expected per Refinitiv. The company reported strong grocery sales and e-commerce growth and raised its outlook for the year.
- Snowflake (Symbol: SNOW)— Snowflake jumped 5.12% following a bullish call from Rosenblatt Securities. The firm upgraded the data storage company to a buy rating ahead of Snowflake’s quarterly report on May 26. “Snowflake … is uniquely positioned as the leading independent Cloud data platform provider that should continue to grow rapidly as enterprises shift more of their IT workloads to the cloud,” the firm said.
- Fisker (Symbol: FSR)— Fisker shares rose 8.73% after the electric-vehicle company announced an agreement to deliver up to 700 cars to Onto, a U.K.-based EV subscription service. Fisker equity had come under pressure in extended trading Monday evening after it reported a wider-than-expected first-quarter loss.
- MGM Resorts (Symbol: MGM)— The casino stock jumped 1.88% after JPMorgan upgraded the stock to overweight from neutral. The investment firm said in a note to clients that foot traffic in Las Vegas was increasing and the rebound should continue later in the year as restrictions are further lifted.
- Palo Alto Networks (Symbol: PANW)— The cybersecurity company’s shares advanced 1.28% after Raymond James upgraded the stock to an outperform rating. The firm said that while the stock has “underperformed significantly” this year, the company can “enter into a period of healthy growth and incremental profitability that are hallmarks of outperforming stocks in this space.”
- Twilio (Symbol: TWLO)— Twilio rose 0.79% on news that it plans to acquire business-texting platform Zipwhip for $850 million in a blend of cash and stock. Stifel analyst J. Parker Lane said the deal will leverage Zipwhip to text-enable landlines and toll-free telephone numbers.
- Altice USA (Symbol: ATUS)— The cable television provider’s shares fell 1.49% after Bank of America downgraded the stock from “neutral” to “underperform” Tuesday. Bank of America said it saw stronger opportunities elsewhere in its coverage.
- Home Depot (Symbol: HD)— Shares of Home Depot ticked 1.02% lower despite beating on the top and bottom lines of its quarterly results. The home improvement retailer earned $3.86 per share on revenue of $37.5 billon. Analysts expected earnings of $3.08 per share on revenue of $34.96 billion, according to Refinitiv.
- Hostess Brands (Symbol: TWNK)— The food company’s share price ticked 0.1% higher after Stephens reiterated the stocks as overweight. Stephens said it should benefit from the economy reopening.
During Premarket hours today – (Wednesday – 19.05.2021):
- Target (Symbol: TGT) – Target earned $3.69 per share for the first quarter, well above the $2.25 a share consensus estimate, with revenue also above analysts’ projections. Comparable-store sales surged 22.9%, more than double the forecast of analysts surveyed by FactSet. Target shares jumped 3.8% in premarket trading.
- Lowe’s (Symbol: LOW) – The home improvement retailer reported profit of $3.21 per share for the first quarter, beating the $2.62 a share consensus estimate. Revenue also topped Wall Street forecasts, and a same-store sales increase of 24.4% beat the FactSet consensus forecast of a 20.3% rise. Despite the beat, Lowe’s shares fell 2% in the premarket.
- Take-Two Interactive (Symbol: TTWO) – Take-Two earned 94 cents per share for its fiscal fourth quarter, beating the consensus estimate of 67 cents a share. The video game maker’s revenue also beat forecasts, as it continued to benefit from the pandemic-induced increase in video game activity. Take-Two gave a lighter-than-expected forecast, however, as confidence in vaccinations prompts more people to leave their homes. The company’s shares added 2% in premarket action.
- JD.com (Symbol: JD) – The China-based e-commerce company reported better-than-expected profit and revenue for the first quarter, with an expanded product lineup helping expand active customer accounts by 29% compared to a year earlier. JD.com’s U.S. shares gained 1% in the premarket.
- Wells Fargo (Symbol: WFC) – Wells Fargo was downgraded to “neutral” from “buy” at UBS, which said the bank’s risk/reward profile is no longer attractive following a 59% year-to-date rise in the shares year-to-date and a 123% surge since the end of October. Its shares lost 1.3% in premarket trading.
- MicroStrategy (Symbol: MSTR) – MicroStrategy shares tumbled 5.8% in premarket action as the price of bitcoin dipped below $40,000 in overnight trading. The business analytics company has several billion dollars in bitcoin holdings on its books.
- Southwest Airlines (Symbol: LUV) – Southwest said its April revenue increased from March levels due to improvements in leisure travel, and said leisure fare levels are nearing where they were in June 2019. Southwest warned, however, that business travel demand is still significantly lagging leisure travel. Its shares lost 1.5% in premarket trading.
- CarMax (Symbol: KMX) – The automobile retailer’s shares fell 2.4% in the premarket after Wedbush Securities downgraded the stock to “neutral” from “outperform.” Wedbush said the current valuation already reflects the company’s long-term outlook, and it also sees decelerating near-term trends.
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