Check out some of the biggest drivers in the front market:
Deere (DE) – The heavy equipment manufacturer earned $ 3.87 per share for its first fiscal quarter, compared to a consensus estimate of $ 2.14 per share. Revenue also showed forecasts, and Deere increased its full-year earnings outlook due to improvements in the agricultural and construction sectors. Deere shares rose 6.2% in pre-trading.
Roku (ROKU) – Roku shares rose 1.4% in the futures market after showing a quarterly earnings of 49 cents per share, compared to consensus forecasts of a loss of 6 cents per share. The streaming devices’ revenue also beat forecasts, amid a 58% surge, as consumers were at home during the pandemic for more video entertainment.
Uber Technologies (UBER) – The company lost a major case in the UK, where a Supreme Court judge upheld a labor court ruling that Uber’s executives were employees and not contractors. Uber fell 1.9% in market performance.
Dropbox (DBX) – Dropbox has projected 4 cents per share, with quarterly earnings of 28 cents per share. Revenue from the cloud storage industry also came above Wall Street projections. Dropbox had a larger number of paid users during the quarter, as well as better revenue per expectation per user. However, the company also forecast full-year earnings under analysts’ estimates, with equities down 3.4% ahead of the market.
Applied Materials (AMAT) – Applied materials earned $ 1.39 per share for the fourth quarter, compared to a consensus estimate of $ 1.28 per share. The revenue also appeared in the forecasts. The semiconductor manufacturing equipment manufacturer has also given an optimal forecast for the current quarter, as chipmakers are trying to accelerate production to address a global shortage. Applied materials jumped by 5% in the pre-trade.
Novavax (NVAX) – The drugmaker’s stock rose 10.6% in the pre-market after concluding an agreement with global vaccine alliance Gavi to carry out 1.1 billion doses of its Covid-19 vaccine in an international vaccination effort to deliver.
TripAdvisor (TRIP) – TripAdvisor reported a quarterly loss of 41 cents per share, wider than the 26 cents per share loss analysts had expected. The travel website operator’s revenue beat the estimates, and the company noted that the pent-up travel demand and positive vaccine development this year should lead to better results. Its shares fell 2.4% in trading on the market.
Pfizer (PFE) – The Covid-19 vaccine developed by Pfizer and BioNTech (BNTX) was 85% effective after just the first dose, according to a study by Israeli health workers published in The Lancet Medical Journal. As with a competitive Moderna vaccine (MRNA), patients receive two doses of Pfizer vaccine for maximum protection.
Royal Caribbean (RCL) – Royal Caribbean has said it will be limited to cash dividends and share buybacks until the third quarter of 2022 due to changes in the cruise operator’s loan agreements. It suspended dividends and buybacks last year when the pandemic halted shipping activity.
IBM (IBM) – IBM is considering a possible sale of its IBM Watson Health business, according to people familiar with the matter who spoke to The Wall Street Journal. Alternatives may include a sale to a private equity firm or another healthcare firm, or a merger of the unit with a specialty procurement firm.
Texas Roadhouse (TXRH) – The restaurant chain earned 28 cents a share for the fourth quarter, less than the 49 cents per consensus estimate. The income was also shy of analysts’ forecasts. Texas Roadhouse said weekly sales levels weakened during the latter part of the quarter as a revival of Covid-19 forced it to close some locations. Texas Roadhouse shares fell 3.5% ahead of the market.
Planet Fitness (PLNT) – The gym operator’s quarterly earnings fell 5 cents a share, but are reluctant to reach 17 cents a share. The income also became estimated. Sales at the same locations fell more than expected, and Planet Fitness did not deliver a forecast for 2021 due to the uncertainty surrounding the Covid-19 pandemic. Shares fell 2.5% in pre-trading.
Rackspace (RXT) – Rackspace beat estimates by 3 cents with a quarterly earnings of 26 cents per share. Revenue also came above forecasts, but the cloud service provider has a weaker profit forecast for the year than expected. Its shares tumbled 9.7% in action ahead of the market.