During Market hours yesterday — (Wednesday – 26.05.2021):
- The Dow (Symbol: DIA) edged 0.03%. The S&P 500 (Symbol: SPY) gained 0.20% and the Nasdaq (Symbol: QQQ) gained 0.34%.
- GameStop (Symbol: GME), AMC Entertainment (Symbol: AMC) – Meme stocks are popping again amid heightened speculative trading activities. Shares of GameStop soared nearly 15.8%, pushing its gains this week to more than 30%. Another Reddit favorite, AMC Entertainment, rallied 19.2%, bringing its weekly advance to over 50%.
- CVS Health (Symbol: CVS), Rite Aid (Symbol: RAD) and Walgreens Boots Alliance(Symbol: WBA) : Pharmaceutical stocks fell Wednesday on a report that Amazon may open brick-and-mortar pharmacies. CVS is down 1.56%, and Rite Aid slipped 2.49%. Walgreens declined 4.02%.
- Ford (Symbol: F)– Ford’s stock rose 8.51% after the automaker announced plans to increase its investment in electric vehicles to $30 billion through 2025 at its investor day Wednesday morning. The company said it expects 40% of its global sales volume to come from electric vehicles by 2030.
- Discovery (Symbol: DISCA)– Discovery is up about 3.78% after Amazon announced it will buy MGM Studios for $8.45 billion, raising possible valuations across the entertainment industry. The news follows that of Discovery’s $43 billion deal to merge with WarnerMedia after a spinoff from AT&T.
- Urban Outfitters (Symbol: URBN)– The retail stock soared 10.04% after the company posted blowout first-quarter earnings. Urban Outfitters reported quarterly earnings of 54 cents per share, more than triple analysts’ estimate of 17 cents per share, according to Refinitiv. The retailer’s revenue of $927.4 million also topped the Street’s $900.1 million projection. Urban Outfitters said comparable retail segment sales increased 51%.
- Dick’s Sporting Goods (Symbol: DKS)– The retailer’s stock soared 16.91% after Dick’s Sporting Goods smashed expectations for its first quarter and hiked its guidance. The company reported adjusted earnings per share of $3.79 on $2.92 billion in revenue. Analysts surveyed by Refinitiv had penciled in $1.12 in earnings and $2.18 billion in revenue. Management said the return of youth sports helped to drive sales.
- Nordstrom (Symbol: JWN)– Nordstrom shares fell 5.78% after the retailer’s first-quarter earnings results missed Wall Street expectations. Nordstrom lost $1.05 per share in the first quarter, more than analysts’ projection of 57 cents loss per share. The company said its first-quarter net sales were 13% lower than the same period in fiscal 2019.
- Capri Holdings (Symbol: CPRI)– The Michael Kors, Jimmy Choo and Versace owner rose 3.14% after reporting strong earnings. Capri reported earnings of 38 cents per share on revenue of $1.2 billion. Analysts expected earnings of 2 cents per share on revenue of $1.02 billion, according to Refinitiv.
- Abercrombie & Fitch (Symbol: ANF)– Abercrombie shares jumped 7.81% after reporting a 61% increase in first quarter sales Wednesday. The retailer reported earnings of 67 cents per share on revenue of $781 million, while analysts estimated a loss of 38 cents on revenue of $687 million.
During Premarket hours today – (Thursday – 27.05.2021):
U.S. weekly jobless claims total 406,000, vs 425,000 estimate
- Best Buy (Symbol: BBY) – Best Buy shares jumped 3.8% in the premarket after the electronics retailer reported quarterly earnings of $2.23 per share, which beat the consensus estimate of $1.39 a share. Revenue and comparable-store sales also exceeded Wall Street forecasts and Best Buy raised its full-year comparable sales forecast.
- Snowflake (Symbol: SNOW) – Snowflake lost 11 cents per share for the first quarter, smaller than the 16 cents a share loss that analysts were anticipating. The cloud computing company’s revenue also topped forecasts, but shares fell 3.3% in the premarket as losses grow at a similar rate as its sales.
- Okta (Symbol: OKTA) – Okta shares fell 4.4% in premarket trading, after the maker of identity management software projected a larger-than-expected loss for the current quarter as well as announcing the upcoming departure of Chief Financial Officer Mike Kourey.
- Dollar General (Symbol: DG) – The discount retailer reported quarterly profit of $2.82 per share, beating the consensus estimate of $2.19 a share. Revenue exceeded estimates and comparable-store sales dropped less than expected. Dollar General also raised its full-year forecast after benefiting from a new round of government stimulus checks for its customers. Despite the beat, Dollar General shares fell 1.5% in premarket trading.
- Dollar Tree (Symbol: DLTR) – The discount retailer’s shares fell 2.7% in the premarket after it issued a lower-than-expected earnings outlook for the full year. Dollar Tree beat estimates on the top and bottom lines for its latest quarter, and comparable-store sales rose more than expected.
- Williams-Sonoma (Symbol: WSM) – Williams-Sonoma earned $2.93 per share for its latest quarter, beating the consensus estimate of $1.83 a share. The housewares retailer’s revenue came in above forecasts, and it also gave an upbeat outlook as shoppers continue to invest in their homes. The stock rose 3.3% in premarket trading.
- Walmart (Symbol: WMT) – Walmart struck a deal with apparel retailer Gap (Symbol: GPS) to sell a new line of Gap-branded home goods. The new products will go on sale online June 24 and will eventually come to Walmart’s physical locations. Gap rose 1.3% in the premarket, while Walmart shares were little changed.
- Vir Biotechnology (Symbol: VIR) – The Food and Drug Administration granted emergency use authorization to an antibody treatment for Covid-19 developed by Vir and partner GlaxoSmithKline (Symbol: GSK). The treatment is designed for patients 12 years and older with mild to moderate cases of Covid-19. Vir surged 9.1% in premarket action.
- Workday (Symbol: WDAY) – Workday beat estimates by 14 cents a share, with quarterly earnings of 87 cents per share. The maker of human resources software’s revenue also top estimates. Despite the beat and an upbeat outlook, Workday shares fell 1.1% in the premarket.
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