Check out some of the biggest drivers in the front market:
Zoom Video (ZM) – Zoom posted a quarterly earnings of $ 1.22 per share, reaching the consensus estimate of 79 cents per share. Revenue was also better than forecast, and Zoom provided an optimal forecast for the current quarter, expecting millions to use their video messaging platform. Its shares rose 7.4% ahead.
Novavax (NVAX) – Novavax lost $ 2.70 per share for its last quarter, wider than the $ 1.49 per share loss analysts had expected. The drugmaker’s revenue also came under Wall Street’s estimates. Novavax said its Covid-19 vaccine could be cleared in the US as early as May, depending on whether regulators are willing to authorize it based on the results of a UK trial. Novavax shares fell 5.1% in the futures market.
Target (AT) – The retailer reported quarterly earnings of $ 2.67 per share, 13 cents per share above estimates. The revenue also exceeded analysts’ forecasts. Sales of comparable stores increased by 20.5%, better than the 16.8% predicted by analysts surveyed by FactSet. Target also more than doubled digital sales. Its shares rose 1% in pre-trading.
Kohl (CSC) – Kohl’s reported quarterly earnings of $ 2.22 per share, including $ 1.15 per share in incremental tax benefits. This is compared to a consensus estimate of $ 1.01 per share. Revenue beat forecasts, and Kohl’s announced it would reintroduce its dividend and repurchase program this year. It also predicted sales growth for 2021. The retailer’s shares rose 1.6% in the action before the market.
Nio (NIO) – Nio fell 5.2% in trading after the market after reporting a larger-than-expected loss for its most recent quarter. The China-based manufacturer of electric vehicles also released a sales forecast for the current quarter that slows growth more than expected.
Office Brands (CTB) – The company behind the Lee and Wrangler clothing brands earned $ 1.23 per share for the last quarter, compared to a consensus estimate of 97 cents per share. Revenue also came above estimates, driven by strong digital sales. Office Brands also predicted a better forecast for full-year revenue. Its shares rose 3.1% in the futures market.
AutoZone (AZO) – The auto parts retailer posted a quarterly earnings of $ 14.93 per share, reaching the consensus estimate of $ 12.84 per share. The revenue was also estimated above. Comparable sales increased by 15.2% compared to a consensus FactSet estimate of 8.6%.
Beyond Meat (BYND) – The share of the plant food producer rises by 1.2% in the pre-market, after Citi upgraded the share to buy ‘neutral’. Citi believes sales and cost issues that affected the past quarter are temporary. The shares initially traded off-hour on Monday, after Beyond Meat said it plans to acquire $ 750 million in a convertible offer.
Nike (NKE) – Nike North American business leader Ann Hebert has left the shoe and clothing manufacturer, and Nike says he will announce a replacement soon. Hebert’s departure follows a report that her son used a credit card in her name to buy sneakers for his resale business.
MercadoLibre (MELI) – MercadoLibre fell 2.4% to market, despite reporting a quarterly earnings record and beating analysts’ forecasts. The Argentine giant for e-commerce has benefited from an increase in online shopping and digital payments in the Latin American market.
Roku (ROKU) – Roku buys Nielsen (NLSN)’s digital advertising business for an undisclosed amount, enabling it to offer more targeted advertising on its streaming platform. Roku gained 1.3% of the market, while Nielsen rose 6.8%.
Lemonade (LMND) – Lemonade lost 60 cents a share for its last quarter, 5 cents a share less than expected. The online insurance company’s revenue estimated the above, but Lemonade issued a weaker outlook for the current quarter. Its shares fell 6% in the forex market.
Square (SQ) – Square gained 4.4% in pre-trading after announcing the start of operations for its own bank, Square Financial Services. The bank of the digital payment company offers business loans to Square sellers.
Score Media and Gaming (SCR) – Score Media rose 7.1% ahead of the market after saying that underwriters of the recent initial public offering took full advantage of their deal. That brings the total money the sports betting business raises to $ 186.3 million.