During Market hours Yesterday — (Wednesday – 10.11.2021):
- The Dow (Symbol: DIA) lost 0.6%. The S&P 500 (Symbol: SPY) fell 0.8% and the Nasdaq (Symbol: QQQ) dropped 1.5%.
- Poshmark (Symbol: POSH) — The online marketplace’s shares tumbled nearly 30% Wednesday after reporting quarterly results late Tuesday. Poshmark reported a loss of 9 cents per share, versus analyst estimates of 7 cents per share. Revenue also came in weaker than expected at $79.7 million, versus $82.7 million expected by Wall Street.
- DoorDash (Symbol: DASH) — The food delivery company’s shares soared more than 14% on Wednesday after the company announced it would acquire Wolt for $8.1 billion. The company also reported a wider than expected third-quarter loss per share but beat on revenue estimates.
- FuboTV (Symbol: FUBO) — Shares of the streaming platform sank 19% after the company reported a loss late Tuesday of 59 cents per share and revenue of $156.7 million for the third quarter. It also increased its guidance for the fourth quarter.
- Unity Software (Symbol: U) — The video game software development company saw shares jump 6% after beating third-quarter earnings and revenue expectations and raising its full-year guidance. Unity also announced it plans to buy “Lord of the Rings” visual effects maker Weta Digital for more than $1.6 billion in cash and stock.
- Wendy’s (Symbol: WEN) — Shares of Wendy’s dropped 8% after the fast-food chain posted quarterly financial results. It recorded a slight earnings beat of 19 cents per share on revenue of $470.3 million, versus the expected 18 cents per share on revenue of $470.2 million, according to Refinitiv. However, it reported global same-restaurant sales growth of 3.3% in the quarter, compared to consensus expectations of 4.9%.
- Palantir (Symbol: PLTR) — Palantir shares dropped more than 5% after RBC downgraded the stock to underperform from sector perform and cut its price target on it to $19 per share from $25 per share. RBC in its call cited Palantir’s slowing revenue growth.
- Coinbase (Symbol: COIN) — Shares of Coinbase fell 4.8% after the company reported quarterly revenue Tuesday of $1.31 billion, which missed analysts’ expectations. Monthly active transaction users were lower from the previous quarter, at 7.4 million, but up from the prior year. Transaction-based revenue was also lower from the previous quarter.
- Mastercard (Symbol: MA) — Mastercard shares rose 3.8% after the payments technology company disclosed new performance objectives for 2022-2024 at its Investor Day Wednesday showing faster earnings and revenue growth. It also announced the expansion of its buy-now-pay-later program.
During Premarket hours today (Thursday – 11.11.2021):
CPI jumps 6.2% in October, highest level in more than 30 years
- Tesla (Symbol: TSLA) — Shares of Tesla got a roughly 2% boost after CEO Elon Musk sold about $5 billion worth of shares this week, according to financial filings submitted Wednesday. He still holds more than 166 million shares.
- Rivian (Symbol: RIVN) — Electric vehicle maker Rivian’s shares rose more than 6% in early morning trading after the company made its trading debut on the Nasdaq Wednesday. The IPO pulled other EV stocks up with Rivian. Nio and Fisker shares gained about 2%.
- Beyond Meat (Symbol: BYND) — The alternative meat company’s shares tumbled almost 20% after reporting a wider-than-expected loss of 87 cents per share for the third quarter, compared with expectations of 39 cents per share loss. It also missed revenue estimates, bringing in $106.4 million versus the $109.2 million forecasted by Wall Street.
- SoFi (Symbol: SOFI) — Digital bank SoFi’s shares jumped 13% after reporting better-than-expected quarterly results Wednesday evening. SoFi reported a loss of 5 cents per share, compared to analysts’ estimates for a loss of 9 cents per share, according to Refinitiv.
- Affirm (Symbol: AFRM) — Buy-now-pay-later darling Affirm’s shares rallied 25% in early trading after announcing an expansion of its partnership with Amazon and reported a quarterly revenue beat, recording $269.4 million versus estimates of $248.2 million. Affirm also reported a quarterly loss, according to Refinitiv.
- Marqeta (Symbol: MQ) — Shares of Marqeta, the card-issuing platform behind buy now pay later brands like Affirm and Klarna, jumped 11% after reporting strong quarterly results and a 60% increase in processing volume from the previous year.
- Walt Disney (Symbol: DIS) — Disney shares fell nearly 5% in early morning trading Thursday after missing top and bottom-line estimates for its third-quarter results. The media giant reported a profit of 37 cents per share on revenue of $18.53 billion, compared with analyst estimates of 51 cents per share on revenue of $18.79 billion, according to Refinitiv. Subscriptions for Disney+ also feel short of estimates.
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