During Market hours Yesterday — (Wednesday – 11.08.2021):

  • The Dow (Symbol: DIA) gained 0.63%. The S&P 500 (Symbol: SPY) edged 0.25% and the Nasdaq (Symbol: QQQ) lost 0.17%.
  • Coinbase (Symbol: COIN)— The crypto services company’s stock jumped 3.24% after reporting strong second-quarter results on Tuesday night for its second time as a public company. Coinbase earnings came in at $3.45 per share, beating Wall Street estimates, and revenue was $2.23 billion for the quarter, an increase from $178 million a year ago.
  • Virgin Galactic (Symbol: SPCE)— Shares of the space exploration company dropped 12.67% after Morgan Stanley downgraded the stock to underweight. The investment firm said in a note that the stock would fall when the company enters a months-long period with no flights later this year.
  • WW International (Symbol: WW)— Shares of the wellness company dropped 24.56% after WW missed second-quarter expectations on the top and bottom lines. The number of subscribers also came in below management projections. Investment firm Jefferies downgraded the stock to hold from buy after the report, saying that WW was facing a “near-term stall.”
  • Nucor (Symbol: NUE)— The steelmaker’s stock rose 3.91%, making it a big winner for the second-straight day after the Senate passed a $1 trillion infrastructure.
  • NortonLifeLock (Symbol: NLOK)— Shares of the cybersecurity company rose 8.7% after NortonLifeLock announced a deal to acquire Europe-based antivirus company Avast. The deal is worth more than $8 billion in cash and stock, according to the announcement.
  • Perrigo (Symbol: PRGO)— The consumer health products stock sank 12.57% after its second quarter report missed expectations. The company earned 50 cents per share during the period on $981 million in revenue. Analysts surveyed by Refinitiv were expecting 61 cents and $1.02 billion. The company said a “historically weak cough/cold season” hurt sales growth.
  • FuboTV (Symbol: FUBO)— The streaming video stock surged 11.1% after fuboTV’s second-quarter revenue beat expectations and the company hiked its guidance. The company said it ended the quarter with more than 681,000 subscribers, which is up 138% year over year.
  • Moderna (Symbol: MRNA)— The pharmaceutical stock continued its trend of volatile trading since the delta variant spread widely in the U.S., falling 15.64%. This would be the fifth day in August with a move of greater than 5% in either direction.
  • Canada Goose (Symbol: GOOS)– Shares of the luxury outerwear maker dropped 12.89% after the firm kept its conservative revenue outlook unchanged amid rising expenses and ongoing Covid disruptions. Canada Goose otherwise reported a stronger-than-expected quarter with an adjusted net loss per diluted share of 45 cents, smaller than the 53 cent loss that analysts were anticipating, according to Refinitiv.
  • Wendy’s (Symbol: WEN)— Shares of the fast food chain rose 3.72% on Wednesday after the company’s second-quarter report came in better than expected. Wendy’s earned an adjusted 27 cents per share on $493 million in revenue for the quarter. Analysts surveyed by Refinitiv were expecting 18 cents per share on $462 million in revenue.
  • Poshmark (Symbol: POSH)— Shares of the online fashion marketplace plunged 17.09% despite the company reporting better-than-expected second-quarter financial results. Poshmark posted a loss of 4 cents per share on revenue of $81.8 million versus analysts’ estimate of a 6-cents per-share loss on revenue of $80.3 million. The company issued third-quarter venue guidance below Wall Street expectations and warned Apple’s new privacy controls would hurt its business.

During Premarket hours today – (Thursday – 12.08.2021):

U.S. jobless claims total 375,000, matching estimate

  • Palantir Technologies (Symbol: PLTR) – The software platform company matched Wall Street forecasts with adjusted quarterly earnings of 4 cents per share and revenue beating analyst forecasts. Sales rose 49% from a year ago, and the stock rallied 5.7% in the premarket.
  • CyberArk Software (Symbol: CYBR) – The cybersecurity company earned an adjusted 1 cent per share for its latest quarter, compared with a consensus estimate of 2 cents, while revenue came in above estimates with subscription revenue more than doubling from a year ago. CyberArk shares slid 4.9% in premarket trading.
  • Utz Brands (Symbol: UTZ) – The snack maker’s stock fell 4.5% in the premarket after it missed estimates by 2 cents with adjusted quarterly earnings of 13 cents per share, although revenue did beat Wall Street forecasts. Utz expects continued strong demand for its products, but also expects costs to remain elevated for the remainder of the year.
  • eBay (Symbol: EBAY) – eBay beat estimates by 4 cents with adjusted quarterly earnings of 99 cents per share. However, it reported a decline in active buyers and is forecasting lower than expected revenue for the current quarter as overall e-commerce trends soften. eBay fell 1.5% in premarket action.
  • Bumble (Symbol: BMBL) – Bumble lost 6 cents per share for its latest quarter, compared with consensus estimates for a 1 cent per-share profit. However, the dating service operator’s revenue topped forecasts as its paying user numbers jumped 20% from a year earlier, and it issued upbeat current-quarter revenue guidance. Bumble gained 1.7% in the premarket.
  • Sonos (Symbol: SONO) – Sonos surged 11.6% in premarket trading after it reported a surprise profit of 12 cents per share, with analysts having expected a quarterly loss of 17 cents per share. The maker of home audio equipment also issued strong current-quarter and full-year sales guidance.
  • Opendoor (Symbol: OPEN) – Opendoor soared 19.5% in premarket action after reporting it lost 24 cents per share for its latest quarter, 10 cents less than analysts had been projecting. The home buying and selling company also reported better-than-expected revenue, in addition to issuing an upbeat current-quarter sales forecast.
  • Lordstown Motors (Symbol: RIDE) – Lordstown Motors is seeing its shares rally in the premarket after saying it was on track to begin limited production of its Endurance electric pickup truck by the end of September. Lordstown gained 1.6% in the premarket.
  • DoorDash (Symbol: DASH) – DoorDash held talks over the past two months to buy grocery delivery service Instacart, according to people familiar with the matter who spoke to The Information. The news website said the talks have fallen apart in recent weeks amid concerns that such a deal would have a difficult time winning regulatory approval. DoorDash rose 2.3% in premarket trading.
  • Hims & Hers Health (Symbol: HIMS) – Hims & Hers lost 3 cents per share for its second quarter, smaller than the 9 cents loss that Wall Street had been anticipating. The telehealth platform operator also reported better-than-expected revenue. The stock leaped 11% in the premarket.
  • Rackspace Technology (Symbol: RXT) – Rackspace beat estimates by 2 cents with an adjusted quarterly profit of 24 cents per share, and the cloud computing company’s revenue also topped forecasts. However, Rackspace also gave weaker-than-expected current-quarter guidance, with the company saying it is in a “transient phase” as it phases out older business segments. Shares slumped 9.3% in premarket action.

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