During Market hours yesterday — (Tuesday – 23.02.2021):
- The Dow (Symbol: DIA) went up 0.1%. The S&P 500 (Symbol: SPY) climbed 0.1% and the Nasdaq (Symbol: QQQ) sank 0.3%
- Tesla (Symbol: TSLA) – Shares of the electric vehicle company slid more than 2% during a volatile day of trading, which at one point saw the stock decline more than 12%. The leg lower follows heavy losses on Monday, and the stock is now down more than 10% for the week as investors rotate out of high-flying tech names.
- Home Depot (Symbol: HD) – The retailer beat top and bottom line estimates during the fourth quarter, but shares were down more than 3% on Tuesday after the company didn’t issue guidance for 2021. Home Depot earned $2.65 per share on $32.26 billion revenue, compared to the expected $2.62 per share and $30.73 billion in revenue, according to estimates from Refinitiv. U.S. same-store sales jumped 25%.
- AMC Entertainment (Symbol: AMC) – Shares of the movie theater chain jumped 17.6% on Tuesday after New York Gov. Andrew Cuomo announced that movie theaters in New York City could open with limited capacity next month.
- Churchill Capital IV (Symbol: CCIV) – Shares of the special purpose acquisition company tumbled more than 38% after Churchill announced that it would merge with Lucid Motors, an early stage electric vehicle company. A possible deal between the two companies had previously been reported. The companies also confirmed a delay in production for Lucid’s vehicle.
- Dish Network (Symbol: DISH) – Shares of the television company lost 4% after research firm Pivotal downgraded the stock to hold from buy. Pivotal said investors should be patient in waiting to see how Dish’s wireless business performs.
- Shopify (Symbol: SHOP) – Shares of e-commerce company lost more than 5% after Shopify finalized an offering of Class A shares. The company priced 1.18 million shares at $1,315 apiece, resulting in gross proceeds of $1.55 billion.
- ZoomInfo (Symbol: ZI) – Shares of the marketing software company climbed 4.1% after ZoomInfo’s fourth-quarter earnings beat expectations. The company earned an adjusted 12 cents per share during the period, while analysts surveyed by Refinitiv were expecting 10 cents per share. ZoomInfo’s forward earnings guidance was also stronger than expected.
- RealReal (Symbol: REAL) – Shares of the luxury consignment platform dropped more than 13% after a wider-than-expected quarterly loss. The RealReal lost an adjusted 49 cents per share for the fourth quarter, versus an estimate of a 42-cent loss. Its revenue also came in below expectations. Raymond James downgraded the stock after the earnings report to market perform from an outperform rating, saying recovery is already priced in.
- Spotify (Symbol: SPOT) – Shares of the music streaming company fell 3.9% after Atlantic Equities downgraded the stock to neutral from overweight on valuation concerns. The firm cited Spotify shares that have more than doubled over the past 12 month, trading at more than five times forward revenue. Meanwhile, it said there are fewer catalysts to drive shares higher as Spotify’s focus shifts away from M&A to production.
During Premarket hours today – (Wednesday – 24.02.2021):
- Lowe’s (Symbol: LOW) – The home improvement retailer reported quarterly profit of $1.33 per share, 12 cents a share above estimates. Revenue also came in above analysts’ forecasts. Same-store sales jumped 28.1%, compared to the 22% predicted by analysts surveyed by FactSet.
- ODP Inc. (Symbol: ODP) – The parent of Office Depot’s shares rose 1.1% gain in premarket action, despite falling short on the bottom line in its latest quarterly report. ODP earned 55 cents per share, compared to a consensus estimate of 83 cents a share, but revenue was slightly above analysts’ forecasts.
- Six Flags (Symbol: SIX) – The theme park operator lost $1 per share for its latest quarter, more than the 89 cents a share loss that analysts had been anticipating. Revenue was well above estimates as was spending per guest.
- Casper Sleep (Symbol: CSPR) – Casper Sleep lost 37 cents per share for its latest quarter, 2 cents a share more than analysts had been anticipating. The mattress retailer reported better-than-expected revenue, however, and its shares rose 4.6% in the premarket.
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