During Market hours yesterday – (Wednesday – 05.05.2021):
- The Dow (Symbol: DIA) went up 0.23%. The S&P 500 (Symbol: SPY) gained 0.03% and the Nasdaq (Symbol: QQQ) sunk 0.34%.
- Peloton (Symbol: PTON)— Shares of the exercise equipment maker dropped 14.56% after the company announced a recall for its treadmill products. Reports of dozens of injuries and one death have been attributed to the products.
- Lyft (Symbol: LYFT)— The ride hailing giant’s shares dropped 6.34% despite reporting a smaller-than-expected first-quarter earnings loss. Lyft lost 35 cents per share, while analysts estimated a loss of 53 cents per share, according to Refinitiv. Revenue came in at $609 million, above the forecast $559 million.
- General Motors (Symbol: GM)— The legacy auto stock jumped 4.05% after GM beat earnings expectations for the first quarter and reaffirmed its full-year profit guidance. The company’s revenue did come in lighter than expected as the semiconductor shortage continues to hamper automakers.
- ConocoPhillips (Symbol: COP)— Shares of the oil company rose 5.46% after Bank of America upgraded the stock to buy from neutral and amid a rally for commodities stocks. The firm said that higher oil prices helped to increase the possibility that ConocoPhillips could deliver more cash to shareholders.
- Match Group (Symbol: MTCH)— The dating app company reported better-than-expected earnings and revenue for the first quarter, helping to boost shares by 3.41%. Match also provided strong second quarter guidance.
- Activision Blizzard (Symbol: ATVI)— Shares of the video game company popped 1.57% on quarterly results that beat analysts’ expectations. Activision Blizzard reported earnings of 84 cents per share, topping a Refinitiv forecast of 70 cents per share. The company’s revenue came in at $2.07 billion, beating an estimate of $1.78 billion.
- Scotts Miracle-Gro (Symbol: SMG)— The fertilizer stock rose 6.3% after its fiscal second quarter report topped expectations. Scotts Miracle-Gro reported adjusted second-quarter earnings of $5.64 per share on revenues of $1.83 billion. Analysts had expected EPS of $5.42 on revenues of $1.73 billion.
During Premarket hours today – (Thursday – 06.05.2021):
U.S. weekly jobless claims total 498,000, vs 527,000 estimate
- Etsy (Symbol: ETSY) – Etsy shares plunged 11.1% in premarket trading after the online crafts marketplace warned of slowing user growth. Etsy beat estimates by 12 cents a share, with quarterly profit of $1.00 per share. Revenue also beat forecasts. Etsy declined to provide full-year financial guidance.
- Uber (Symbol: UBER) – Uber lost 6 cents per share for its latest quarter, compared to expectations of a 54 cents a share loss. Revenue was below forecasts, however, and Uber indicated it would pay drivers more to get cars back in service as the economy rebounds. Uber fell 3.7% in premarket trading.
- Zynga (Symbol: ZNGA) – Zynga earned 8 cents per share for the first quarter, a penny a share shy of estimates. The mobile game producer’s revenue exceeded estimates and Zynga raised its full-year guidance on expectations of strong demand for its live gaming services. Its shares surged 5% in premarket action.
- Rocket Companies (Symbol: RKT) – Rocket Companies reported quarterly earnings of 89 cents per share, in line with forecasts. Loan volume for the lender jumped during the quarter, but current-quarter guidance for the key metric of “gain-on-sale” margins is well below first-quarter levels. Its shares plummeted 13.6% in premarket trading.
- Moderna (Symbol: MRNA) – Moderna shares fell 5.4% in premarket trading after the drugmaker reported better-than-expected earnings for the first quarter. Revenue fell short of forecasts. The company raised its sales forecast for its Covid-19 vaccine for 2021 by 4.3% to $19.2 billion.
- Norwegian Cruise Line (Symbol: NCLH) – The cruise line operator reported a slightly smaller-than-expected quarterly loss, while first-quarter revenue was well below analysts’ forecasts. It also said a mid-summer restart for cruises could be in jeopardy, given the time needed to strike an agreement with authorities and to get ships ready to sail. The stock lost 1.8% in premarket trading.
- ViacomCBS (Symbol: VIAC) – The media company’s shares added 2.4% in the premarket, after it exceeded estimates by 30 cents a share, reporting quarterly profit of $1.52 per share. Revenue was also above estimates, thanks to higher affiliate fees and improved ad sales.
- PayPal (Symbol: PYPL) – PayPal jumped 4.5% in the premarket after it came in 21 cents a share ahead of estimates, with quarterly earnings of $1.22 per share. Revenue for the online payment service also came in above Wall Street forecasts. The pandemic-induced increase in online payment volume continues to benefit PayPal’s bottom line.
- Sunrun (Symbol: RUN) – The solar equipment company stock surged 8.4% in premarket trading after its first-quarter earnings matched estimates and revenue exceeded forecasts. Sunrun also increased its growth rate projections, based on growing demand in the solar industry.
- Fastly (Symbol: FSLY) – Fastly shares plunged 18.5% in the premarket after the internet content platform provider gave lighter-than-expected guidance and also announced that Chief Financial Officer Andriel Lares would step down.
- Anheuser-Busch InBev (Symbol: BUD) – Anheuser-Bush announced that CEO Carlos Brito would step down in July after 15 years of leading the beer brewer. He’ll be replaced by North American chief Michel Doukeris. Shares rallied 5.1% in the premarket.
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