During Market hours yesterday — Wednesday (03.02.2021):
- The Dow (Symbol: DIA) went up 0.1%. The S&P 500 (Symbol: SPY) popped 0.1%. and the Nasdaq (Symbol: QQQ) sank 0.4%.
- Alphabet (Symbol: GOOGL) – Shares of the Google-parent company jumped more than 7% after Alphabet reported quarterly results that beat analyst expectations on the top and bottom line. The company earned an adjusted $22.30 per share on $56.90 billion in revenue during the fourth quarter. The Street was expecting $15.90 per share and $53.13 billion in revenue, according to estimates compiled by Refinitiv. Alphabet’s revenue grew 23% on an annualized basis amid a recovery in ad spending.
- Spotify (Symbol: SPOT) – The music-streaming company’s shares slid by about 8% after Spotify reported a wider-than-expected loss for the prior quarter. During the fourth quarter the company lost 66 cents per share, compared to the 55-cent loss expected by analysts surveyed by Refinitiv. Revenue came in at $2.17 billion which slightly surpassed the expected $2.15 billion. Spotify said premium subscribers jumped 24% year over year.
- GameStop (Symbol: GME) – The brick-and-mortar gaming retailer’s shares were up by about 6% in midday trading, as the stock price hovered just below $100. It’s been a wild ride for GameStop shares, which enjoyed a 400% increase last week – only to crater by 70% this week.
- Electronic Arts (Symbol: EA) – Shares of the video game company fell more than 5% even after the company raised its annual sales forecast. Earnings came in at 72 cents per share, which wasn’t comparable to estimates. Electronic Arts made $2.4 billion in revenue, slightly more than a Refinitiv forecast of $2.39 billion. Analysts said that investors may have been anticipating stronger results and a more upbeat forecast, given the strength of the market and the stock’s recent rise.
- Chipotle (Symbol: CMG) – Shares of the fast-food Mexican chain dropped more than 2% after the company missed analyst expectations for its quarterly earnings and digital orders eased from their record pace. Chipotle earned $3.48 per share, missing estimates of $3.73 per share, according to Refinitiv. Revenue came in in-line with estimates at $1.61 billion.
- Biogen (Symbol: BIIB) — Shares of the biotech company dipped 5% following a fourth-quarter report that missed expectations. Biogen reported $4.58 in adjusted earnings per share, below the $4.87 anticipated by Wall Street analysts. The company also said it expected revenue and earnings to decline in 2021. Fourth-quarter revenue did beat expectations, however.
During Premarket hours today – Thursday (04.02.2021):
U.S. weekly jobless claims total 779,000, vs 830,000 expected.
- Canada Goose (Symbol: GOOS) – Canada Goose shares surged more than 15% in the premarket after the outerwear maker beat estimates on both the top and bottom lines. Results were helped by strong growth in China sales as well as a surge in online buying.
- EBay (Symbol: EBAY) – EBay shares jumped 10% in premarket trading, following an earnings beat and strong guidance. The online marketplace operator beat estimates by 3 cents a share, with quarterly earnings of 86 cents per share.
- PayPal (Symbol: PYPL) – PayPal reported quarterly earnings of $1.08 per share, 8 cents a share above consensus. The digital payment service’s revenue also topped Wall Street forecasts. The pandemic-induced growth in online shopping helped drive record payment volume for both the quarter and the full year.
- Becton Dickinson (Symbol: BDX) – The medical products maker earned $4.55 per share for its latest quarter, well above the consensus estimate of $3.11 a share. Revenue beat estimates as well, boosted by strong demand for its Covid-19 tests.
- Clorox (Symbol: CLX) – The household products maker reported quarterly earnings of $2.03 per share, 25 cents a share above estimates. Revenue also came in above analysts’ forecasts and Clorox raised its full-year revenue forecast on continued elevated sales of cleaning and disinfectant products.
- Merck (Symbol: MRK) – Chief Executive Officer Kenneth Frazier will step down on June 30, replaced by CFO Robert Davis with Frazier moving to the role of Executive Chairman. Separately, Merck reported quarterly earnings of $1.32 per share, 6 cents a share shy of estimates.
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