During Market hours yesterday — Wednesday (12.05.2021):
- The Dow (Symbol: DIA) went down 2%. The S&P 500 (Symbol: SPY) slid 2.1%. and the Nasdaq (Symbol: QQQ) sank 2.6%.
- Virgin Galactic (Symbol: SPCE) — The space exploration stock fell more than 11%, continuing its volatile trading after Tuesday’s dramatic intraday turnaround. Ark Invest revealed on Tuesday night that its space exploration ETF had sold almost all of its stake in the company.
- FuboTV (Symbol: FUBO) — Shares of FuboTV gained 9% following the release of the company’s first-quarter results. FuboTV reported a loss of 59 cents per share, which was not comparable to estimates. The company made $119.7 million in revenue, topping a Refinitiv forecast of $103.9 million.
- Vizio (Symbol: VZIO) — Vizio shares slid about 12% after the company posted a profit of 2 cents per share for the first quarter, which was not comparable to estimates. Revenue came in at $506 million, while analysts polled by Refinitiv expected sales of $484 million. Vizio also said Smart TV shipments came in at 1.5 million, below a FactSet estimate of 1.65 million.
- NortonLifeLock (Symbol: NLOK) — The security software stock jumped more than 7% after the company received a double upgrade from Bank of America. The investment firm said there could be a “renaissance” for consumer security technology in the years ahead.
- Lemonade (Symbol: LMND) — The insurance company’s shares dropped more than 17% after Lemonade reported a loss of 81 cents per share for the first quarter, failing to beat expectations, on $23.5 million of revenue. Analysts surveyed by Refinitiv were looking for a loss of 81 cents per share on $22 million of revenue.
- Wolverine World Wide (Symbol: WWW) — Shares of the footwear company slid more than 12% after a first-quarter report that failed to beat expectations. Wolverine reported earnings of 40 cents per share on $511 million in revenue. Analysts surveyed by Refinitiv had penciled in 40 cents in earnings per share and $512 million in revenue.
- Dollar General (Symbol: DG) – The discount retailer’s stock price fell nearly 4% after RBC Capital Markets downgraded the stock to sector perform from outperform. The Wall Street firm said Dollar General’s growth might slow down faster than its peers as stimulus benefits fade.
- Lordstown Motors (Symbol: RIDE) – Shares of the electric truck company shed more than 7% after Lordstown said it would restate its 2020 financial statements. The announcement comes after guidance from regulators last month about accounting and reporting for special purpose acquisition companies.
During Premarket hours today – Thursday (13.05.2021):
U.S. weekly jobless claims total 473,000, vs 490,000 expected.
- Vroom (Symbol: VRM) – Vroom stock jumped 11% in the premarket after it reported a smaller-than-expected loss for its latest quarter. The online used-car retailer’s revenue beat estimates as demand surged. Consumers are turning to used cars as the global chip shortage crimps production of new vehicles. Vroom rival Shift (SFT) reported similarly upbeat results, and its shares rallied 8.1%.
- Sonos (Symbol: SONO) – Sonos earned 12 cents per share for its latest quarter, compared to forecasts of a 22 cents per share loss. The maker of speakers and other audio products also raised full-year sales guidance, saying it believes it can meet demand despite the global chip shortage. Shares jumped 11.9% in premarket trading.
- Alibaba (Symbol: BABA) – The China-based e-commerce giant fell short of analysts’ forecasts on the bottom line, but reported better-than-expected fiscal fourth-quarter revenue. The company also gave an upbeat revenue forecast for the current fiscal year.
- Casper Sleep (Symbol: CSPR) – Casper Sleep shares soared 6.3% in premarket trading after the maker of mattresses and other bedding products reported a smaller-than-expected quarterly loss and saw revenue exceed estimates as well. It also raised its full-year outlook due to what it calls “favorable business trends.”
- Canada Goose (Symbol: GOOS) – Shares of the outdoor apparel maker surged 5.3% in premarket action after Canada Goose reported an unexpected quarterly profit. The company earned 1 cent per share, compared to forecasts of a 12 cents per share loss (all figures in Canadian currency). Revenue also beat forecasts amid a surge in online sales and strong demand from China.
- Bumble (Symbol: BMBL) – Bumble surprised analysts with a first quarter profit, compared to expectations of a quarterly loss. The dating service operator also reported better-than-expected revenue. Bumble issued upbeat current-quarter revenue guidance, with more people returning to dating as the pandemic recedes. Despite the upbeat numbers, Bumble shares fell 1.2% in premarket trading.
- Poshmark (Symbol: POSH) – Poshmark stock tanked 12.5% in the premarket, despite upbeat first-quarter results. The company reported a loss of 33 cents per share, smaller than the 42 cents a share loss expected by Wall Street analysts. The online retailer of used luxury goods also saw revenue come in above analyst forecasts.
*Any information contained in this article, including any information contained in external third party links, if any, is solely for informational purposes and does not contain, or should not be construed as containing, investment advice or an investment recommendation, or, an offer of or solicitation for any transactions in financial instruments. Past performance does not guarantee or predict future performance. Colmex Pro Ltd does not take into account your personal investment objectives or financial situation and makes no representation, and assumes no liability to the accuracy or completeness of the information provided, nor for any loss arising from any investment based on presented information.