During Market hours Yesterday — (Wednesday – 18.08.2021):
- The Dow (Symbol: DIA) slid 1.05%. The S&P 500 (Symbol: SPY) lost 1.09% and the Nasdaq (Symbol: QQQ) went down 0.96%.
- Lowe’s (Symbol: LOW)– Shares of the retailer jumped 9.59% after the company reported quarterly earnings that topped expectations and raised its revenue guidance. Lowe’s sales picked up over the past year as consumers bought new houses, renovated kitchens and took on do-it-yourself projects while stuck at home during the pandemic. The stock is up 25% this year.
- ViacomCBS (Symbol: VIAC)— The media stock jumped 3.69% after ViacomCBS and NBCUniversal-parent Comcast announced they were collaborating on a new streaming service for Europe. The product, called “SkyShowtime,” is expected to launch next year. ViacomCBS also received an upgrade to overweight from Wells Fargo.
- Target (Symbol: TGT)– Target shares pulled back 2.78% despite the retailer beating on second-quarter earnings. The company reported adjusted earnings of $3.64 per share on revenue of $25.16 billion. Wall Street expected earnings of $3.49 per share on revenue of $25.08 billion. The company also raised its forecast for the second half of the year, citing a good start to back-to-school spending.
- BlackBerry (Symbol: BB)– Shares of the communications software provider are up 4.24% after it announced it patched a bug found in older versions of its QNX operating system and that it has notified customers. U.S. officials said Tuesday that the flaw could put cars and medical equipment at risk.
- Wendy’s (Symbol: WEN)– The restaurant stock rose 1.65% after investment firm Oppenheimer upgraded Wendy’s to outperform from perform. Oppenheimer said that the fast food chain’s new expansion plans could help its shares rise by more than 20%.
- Tilray (Symbol: TLRY)– Shares of the cannabis company rose 1.07% after Tilray announced that it had purchased convertible notes for U.S. retailer MedMen enterprises. The deal could give Tilray a foothold in the U.S. market if the country legalizes marijuana.
During Premarket hours Today — (Thursday – 19.08.2021):
U.S. weekly jobless claims total 348,000, vs 365,000 expected.
- Macy’s (Symbol: M) – The retailer reported adjusted quarterly earnings of $1.29 per share, well above the 19 cents consensus estimate, with revenue also above forecasts. Macy’s reported a better-than-expected increase in comparable-store sales, raised its annual sales forecast, and also announced a share buyback and the reinstatement of its dividend.
- Kohl’s (Symbol: KSS) – Kohl’s fell 2.6% in premarket action despite quarterly results that beat analyst forecasts. Kohl’s reported an adjusted quarterly profit of $2.48 per share, well above the $1.21 consensus estimate.
- Tapestry (Symbol: TPR) – The company behind the Coach and Kate Spade brands beat estimates by 5 cents with adjusted quarterly earnings of 74 cents per share and revenue above estimates as a reopening of economies around the world boosted demand for luxury goods. Tapestry also reinstated its dividend, but shares fell 2.3% in premarket trading.
- Petco (Symbol: WOOF) – The pet products retailer beat estimates by 5 cents with adjusted quarterly earnings of 25 cents per share and revenue that beat analyst forecasts as well. Petco also raised its full-year earnings and revenue outlook.
- BJ’s Wholesale (Symbol: BJ) – The warehouse retailer beat estimates on the top and bottom lines for its latest quarter, earning an adjusted 82 cents per share for the second quarter, 17 cents above estimates. It also reported unexpected growth in same-store sales.
- Robinhood (Symbol: HOOD) – Robinhood slumped 9.9% in the premarket after the company behind the popular trading app warned of a slowdown in trading activity during the current quarter. In its first report as a public company, Robinhood reported its quarterly revenue surged 131% compared with a year earlier, driven by a surge in cryptocurrency activity.
- Cisco Systems (Symbol: CSCO) – The networking equipment and services company beat estimates by 2 cents with adjusted quarterly earnings of 84 cents per share and revenue above estimates as well. Cisco did give a current-quarter profit forecast that fell shy of analyst forecasts, due to supply chain issues, and shares lost 1.4% in premarket trading.
- Bath & Body Works (Symbol: BBWI) – The personal care products retailer’s stock added 2.7% in premarket trading, after beating Street forecasts in its first quarterly report since L Brands spun off Victoria’s Secret and renamed itself Bath & Body Works.
- Victoria’s Secret (Symbol: VSCO) – The women’s apparel company’s shares plunged 8.6% in premarket action, after reporting quarterly sales that fell short of analyst expectations. Victoria’s Secret did see an improvement in profit margins as it kept tight inventories and ran fewer promotions.
- Nvidia (Symbol: NVDA) – The graphics chipmaker came in 3 cents above estimates with adjusted quarterly earnings of $1.04 per share, while revenue also topped estimates. Nvidia shares gained 1.4% in the premarket after it forecast better-than-expected current-quarter revenue.
- Red Robin Gourmet Burgers (Symbol: RRGB) – The restaurant chain’s shares tumbled 9.4% in premarket trading after posting an unexpected quarterly loss and lower-than-expected revenue. Red Robin said a worker shortage led to reduced operating hours at certain restaurants during the quarter.
*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.