During Market hours yesterday — (Tuesday – 25.05.2021):
- The Dow (Symbol: DIA) slid 0.23%. The S&P 500 (Symbol: SPY) lost 0.22% and the Nasdaq (Symbol: QQQ) gained 0.14%.
- Lordstown Motors (Symbol: RIDE)— The electric vehicle stock sank 7.45% after the company cut its guidance for production and year-end cash. Lordstown said it will need to raise more capital.
- Shake Shack (Symbol: SHAK)— Shares of the restaurant company jumped 4.48% following a bullish call from Goldman Sachs. The firm upgraded the stock to a buy rating saying the recent pullback offers a chance for investors to pick up shares.
- Moderna (Symbol: MRNA)— The pharmaceutical stock rose 3.1% higher after the company said its Covid-19 vaccine is 100% effective in teens. Moderna said it plans to ask the Food and Drug Administration to expand the emergency use of its Covid vaccine for teens early next month.
- IAC/Interactive and Vimeo (Symbol: IAC)— IAC shares fell 5.6% following Vimeo’s spinoff to IAC shareholders. Vimeo began trading on the Nasdaq today as a standalone public company, with Vimeo shares down 12.85%. The video platform debuted with a valuation of roughly $10 billion.
- Canopy Growth (Symbol: CGC)— The cannabis stock rose 6.48% after MKM Partners upgraded the stock to “buy” from “neutral.” MKM said sentiment surrounding the cannabis sector is low, making Canopy’s risk and reward “very favorable.”
- Petco (Symbol: WOOF)— Shares of the pet products retailer fell 2.24% after the company announced a secondary stock offering of 22 million shares. The selling stockholder gave underwriters a 30-day option to purchase another 3.3 million shares. Petco will not receive any proceeds from the offering, the company said.
- Coinbase (Symbol: COIN)— Shares of the cryptocurrency exchange rose about 7.59% after JPMorgan initiated coverage of the stock with an “overweight” rating. JPMorgan said the future of crypto is bright, despite recent swings in the price of bitcoin and other cryptocurrencies. The stock was also helped by a recovery in bitcoin prices.
During Premarket hours today – (Wednesday – 26.05.2021):
- Dick’s Sporting Goods (Symbol: DKS) – The sporting goods retailer earned $3.41 per share for the first quarter, more than tripling the $1.12 consensus estimate. Revenue also beat forecasts amid comparable sales that more than doubled. Dick’s also gave a full-year outlook that exceeds current Wall Street consensus. Shares surged 7% in premarket action.
- Urban Outfitters (Symbol: URBN) – Urban Outfitters stock soared 10% in premarket trading after the company more than tripled a 17 cents a share consensus estimate, with quarterly profit of 54 cents per share. The apparel retailer’s revenue beat forecasts as well, and comparable-store sales were up 51% as more shoppers returned to stores after being vaccinated.
- Nordstrom (Symbol: JWN) – Nordstrom lost $1.05 per share for the first quarter, wider than the 57 cents a share loss that analysts were expecting. The department store operator’s revenue beat consensus estimates. Overall results were impacted by price markdowns necessary to reduce excess holiday season inventory. Nordstrom shares tumbled 7.2% in the premarket.
- Capri Holdings (Symbol: CPRI) – The company behind brands like Michael Kors, Jimmy Choo and Versace reported quarterly earnings of 38 cents per share, well above the 2 cents a share consensus estimate. Revenue topped forecasts as well. Capri also issued a better-than-expected full-year revenue outlook, as well as a projected earnings range largely above Street projections. Capri shares rose 2.9% in premarket trading.
- Abercrombie & Fitch (Symbol: ANF) – The apparel retailer earned 67 cents per share for the first quarter, compared to analysts’ forecasts of a 38 cents per share loss. Revenue also beat estimates, helped by a jump in digital sales and higher profit margins. Abercrombie shares rallied 3.8% in the premarket.
- Toll Brothers (Symbol: TOL) – Toll Brothers beat estimates by 21 cents a share, with quarterly earnings of $1.01 per share. The luxury home builder’s revenue also exceeded Wall Street projections. Relatively low mortgage rates and a limited supply of homes for sale helped boost the company’s results. Shares gained 1% in premarket trading.
- Zscaler (Symbol: ZS) – Zscaler surged 10.6% in the premarket after it more than doubled the 7 cents a share consensus estimate, with quarterly earnings of 15 cents per share. The cybersecurity company’s revenue beat estimates as well. Zscaler also issued an upbeat full-year outlook amid increased demand for cybersecurity products and services.
- Royal Caribbean (Symbol: RCL) – Royal Caribbean received approval from the Centers for Disease Control and Prevention to begin test voyages from the Port of Miami, becoming the first cruise line to receive such approval. The CDC has said cruise lines can resume full passenger sailings if 98% of crew members and 95% of passengers are fully vaccinated. Royal Caribbean added 1.7% in premarket action.
- Intuit (Symbol: INTU) – Intuit reported quarterly profit of $6.07 per share, missing the consensus estimate of $6.47 a share. The financial management software company’s revenue came in short of estimates as well. The maker of TurboTax and QuickBooks raised its full-year forecast, however, amid continued improved demand for its products and services. Its shares rose 1.4% in premarket trading.
- Agilent Technologies (Symbol: A) – Agilent reported better-than-expected profit and revenue for its latest quarter, and the life sciences company also raised its full-year forecast on what it said was broad-based growth across its business units. Agilent gained 2.8% in the premarket.
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