During Market hours Yesterday — (Wednesday – 02.11.2022):
- The Dow (Symbol: DIA) went down -1.55%. The S&P 500 (Symbol: SPY) lost -2.51%. and the Nasdaq (Symbol: QQQ) fell -3.43%.
- Tupperware Brands (Symbol: TUP) — Shares of Tupperware plunged -42% after third-quarter earnings miss. The maker of household storage products also said it may not be able to comply with the covenants in its credit agreement, “which raises substantial doubt about the Company’s ability to continue as a going concern,” the earnings release said.
- Rogers (Symbol: ROG) — The engineering materials maker saw shares tumble -43% after a planned $5.2 billion sale of the company to DuPont De Nemours was terminated, as the companies were unable to obtain clearance from regulators. The deal was first announced Nov. 1, 2021. DuPont’s (Symbol: DD) stock rose about +4%.
- Paramount Global (Symbol: PARA) — Shares of the media company dropped more than -11% after Paramount’s quarterly results missed expectations, as it suffered from cord cutting and a drop in advertising revenue. Paramount said revenue for its TV media segment was down 5% to about $4.9 billion compared to the previous quarter, as pay-tv subscriber numbers declined.
- Estee Lauder (Symbol: EL) — The cosmetic maker dropped -8% after it gave a weak outlook despite beating expectations for the quarter. The company said it was hurt by higher costs, Chinese Covid lockdowns and fluctuating foreign exchange.
- Airbnb (Symbol: ABNB) — The lodging stock fell -10.1% after the company reported earnings per share that beat expectations, while revenue came in line with estimates. The top end of the company’s fourth-quarter revenue guidance, however, came in below some analyst estimates, StreetAccount data shows.
- Chegg (Symbol: CHGG) — The education stock surged more than +22.2% after Chegg beat estimates on the top and bottom lines for the third quarter. The company reported adjusted earnings were 21 cents per share on $164.7 million of revenue. Analysts surveyed by Refinitiv expected 14 cents per share on $158.3 million of revenue. Adjusted gross margin and subscribers both grew year over year.
- Electronic Arts (Symbol: EA) — Shares of Electronic Arts rose +3.2% even after the video game publisher reported lower-than-expected bookings for its fiscal second quarter. Net income was flat year over year despite a stronger dollar weighing on the company’s bookings. EA also said the newest FIFA game is outperforming the 2022 version over its first four weeks.
During Premarket hours today — (Thursday – 03.11.2022):
- Restaurant Brands (Symbol: QSR) – The parent of Burger King, Tim Hortons and Popeyes saw its stock rally +4% in premarket trading after the company reported better-than-expected quarterly results. Same-restaurant sales jumped 14%, well above the 8.3% rise predicted by analysts who were surveyed by FactSet.
- Under Armour (Symbol: UAA) – Under Armour jumped +4.2% in premarket action after the apparel maker reported better-than-expected earnings for its latest quarter, along with revenue that was roughly in line with Street forecasts. The rise comes despite Under Armour cutting its full-year forecast for the impact from a stronger U.S. dollar and higher costs.
- Peloton (Symbol: PTON) – The fitness equipment maker’s stock tumbled -13.1% in premarket trading after it reported a larger-than-expected quarterly loss and revenue that fell short of analyst predictions. Peloton also issued a weaker-than-expected holiday quarter forecast.
- Moderna (Symbol: MRNA) – The drug maker’s stock slumped -11.9% in premarket action after Moderna reported a quarterly profit of $2.53 per share, well below the consensus estimate of $3.29. The company also cut its annual forecast for Covid-19 vaccine sales.
- Qualcomm (Symbol: QCOM) – Qualcomm slumped -8.3% in the premarket after it gave a worse-than-expected revenue outlook as smartphone shipments slid. The chip maker also reported quarterly revenue and profit that were in line with Wall Street forecasts.
- Roku (Symbol: ROKU) – Roku shares tumbled -18.5% in off-hours trading after the maker of video streaming devices said it expected advertising revenue and device sales to fall in the current quarter. The forecast is weighing on shares despite Roku reporting better-than-expected revenue and a larger-than-expected number of active accounts.
- Robinhood Markets (Symbol: HOOD) – Robinhood rose +2.9% in premarket trading after the online brokerage reported a smaller-than-expected quarterly loss and revenue that topped analyst forecasts. Robinhood also lowered its operating expense forecast for the full year.
- Crown Holdings (Symbol: CCK) – Investor Carl Icahn now holds a more than 8% stake in the beverage can maker, according to the Wall Street Journal, and is said to believe the company should buy back more stock and put non-core units up for sale. Crown Holdings rallied +5.5% in the premarket.
- eBay (Symbol: EBAY) – eBay surged +6.7% in premarket trading after the e-commerce company reported better-than-expected results for its latest quarter, boosted by sales of refurbished goods and luxury offerings.
- Etsy (Symbol: ETSY) – Etsy stock spiked +9.3% in the premarket after the online crafts marketplace reported a better-than-expected quarter, saying its business remained strong in a volatile economic environment.
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