During Market hours yesterday (Tuesday – 23.11.2021):

  • The Dow (Symbol: DIA) went up 0.51%. The S&P 500 (Symbol: SPY) rose 0.13% and the Nasdaq (Symbol: QQQ) fell 0.46%.
  • Occidental Petroleum (Symbol: OXY), APA Corp (Symbol: APA) — Energy stocks gained after the White House announced the U.S. will release 50 million barrels of crude from the Strategic Petroleum Reserve. The move is a coordinated release between several countries, including China and Japan. APA Corp gained 7.3% and Occidental Petroleum rose 6.4%.
  • Dollar Tree (Symbol: DLTR) — Shares of the discount retailer added 9.2% after the company reported its latest quarterly results. Dollar Tree also said its freight costs for the quarter were much higher than it anticipated, but it still reported a revenue beat.
  • Best Buy (Symbol: BBY) — The electronics retailer saw its shares plummet 12.3% after delivering a holiday comparable sales forecast that was largely below those of Wall Street analysts amid weakening demand and shipping bottlenecks. That weighed on investors despite Best Buy reporting a quarterly beat on the top and bottom lines.
  • Zoom Video (Symbol: ZM) — Shares of Zoom Video tanked 14.7% in midday trading after the video-chat company warned investors of a revenue growth slowdown. This caused several Wall Street firms to cut price targets on the stock. BTIG lowered its price target to $400 per share from $460 per share. Deutsche Bank Research also lowered its 12-month target to $280 per share from $350 per share.
  • Medtronic (Symbol: MDT) — Medtronic shares retreated 3% after the company reported a mixed quarter. The medical device maker’s profit beat the Refinitiv consensus estimate by 3 cents a share, but revenue came in below Street forecasts. Medtronic also lowered its full-year outlook, citing the Covid-19 resurgence and health-care staffing challenges.
  • J.M. Smucker (Symbol: SJM) — The food producer’s shares rose 5.7% after the company reported quarterly earnings of $2.43 per share, beating the Refinitiv consensus estimate of $2.05 a share. Revenue also beat forecasts and Smucker raised its full-year forecast.
  • American Eagle Outfitters (Symbol: AEP) — The apparel chain saw its shares jump 4.8% after beating the Street in its quarterly earnings report. American Eagle posted an adjusted profit of 76 cents per share versus the StreetAccount consensus of 61 cents per share. Revenue also came in higher than expected.
  • Burlington Stores (Symbol: BURL) — Shares of Burlington gained 8.6% after the off-price retailer reported better-than-expected earnings. The company posted earnings of $1.36 per share on revenue of $2.3 billion, compared with the Refinitiv consensus estimate of $1.26 per share on revenue of $2.23 billion.

During Premarket hours today – (Wednesday – 24.11.2021):

  • Deere & Co. (Symbol: DE) — The farm equipment maker reported quarterly earnings of $4.12 per share, beating the consensus estimate of $3.90, although revenue came in slightly below analyst forecasts. Deere said solid demand for its products helped cushion the impact of a month-long workers strike. Deere rallied 3.7% in the premarket.
  • Nordstrom (Symbol: JWN) — Nordstrom plummeted 26% in premarket trading after it reported earnings of 39 cents per share for its latest quarter, shy of the 56 cent consensus estimate. The retailer was hurt by rising labor costs and inventory issues and said inventories were especially short in women’s apparel and shoes, where demand rebounded more strongly than it had expected.
  • Gap (Symbol: GPS) — Gap reported adjusted quarterly profit of 27 cents per share, well short of the 50 cents analysts had been anticipating, and also cut its full-year forecast. The apparel retailer has been hit by higher costs for shipping, as well as extended factory closures in Vietnam where it sources about 30% of its products. Gap plunged 20% in premarket trading.
  • VMware (Symbol: VMW) — VMware beat forecasts by 18 cents with adjusted quarterly earnings of $1.72 per share. The software company also gave an upbeat current-quarter forecast amid growing global demand for cloud computing services. Nonetheless, the stock slid 2.6% in premarket action.
  • HP Inc. (Symbol: HPQ) — HP Inc. came in 6 cents above consensus with adjusted quarterly profit of 94 cents per share, with the computer maker also issuing a strong outlook as consumer and business demand for personal computers and printers remains robust. HP jumped 5.6% in premarket trading.
  • Dell Technologies (Symbol: DELL) — Dell reported adjusted quarterly earnings of $2.37 per share, beating the $2.18 consensus estimate, with Dell seeing strong demand for its personal computers and servers. Dell also issued a stronger than expected current-quarter forecast. Dell added about 2% in the premarket.
  • Pure Storage (Symbol: PSTG) — Pure Storage surged 10% in premarket trading after beat estimates by 10 cents with adjusted quarterly profit of 22 cents per share. The maker of flash-based storage systems also issued a better-than-expected current-quarter revenue outlook.

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