Check out some of the biggest drivers in the front market:
Nike (NKE) – Nike earned 14 cents per share above the estimate, with a quarterly earnings of 90 cents per share. However, the revenue of sports shoes and clothing businesses was less than the forecast of analysts, and the outlook for revenue for the full year was also not estimating. Nike said North American revenue was hit by port problems that delayed transportation by up to three weeks. Nike shares traded up 3.2% in the pre-trade.
FedEx (FDX) – FedEx reported quarterly earnings of $ 3.47 per share, surpassing the consensus estimate of $ 3.23 per share. The revenue also came into the forecast. FedEx’s average revenue per package for its ground service has risen 11% as it continues to benefit from the pandemic-related increase in e-commerce orders. Its shares rose 4% in the market.
Skillz (SKLZ) – Skillz tumbled 7% in market action after the mobile gaming company announced a public offering of 32 million. The offer was $ 24 per share, with Skillz selling 17 million shares and certain shareholders selling the rest. Skillz said he would use the proceeds for general corporate purposes.
AstraZeneca (AZN) – AstraZeneca’s Covid-19 vaccine has received the support of Canada regulator Health Canada, which has agreed with European countries that the vaccine is not linked to an increase in blood clots. Countries that have temporarily stopped using the vaccine have now resumed the administration of shots.
Hartford Financial (HIG) – The financial services company is considering a takeover bid from insurance company Chubb (CB) for $ 65 per share or more than $ 23 billion. Hartford shares rose 18.7% on Thursday after the news of the offer, although it returned about 1.4% in the pre-trade.
Ollie’s Bargain Outlet (OLLI) – Ollie’s estimate at 14 cents per share, with quarterly earnings of 97 cents per share. The discount retailer’s revenue also came above Wall Street forecasts. Comparative store sales increased by 8.8%, predicting the FactSet consensus of a 3.2% increase. Ollie’s shares rose 4.6% in market trading.
Enphase (ENPH), SolarEdge Technologies (SEDG) – Susquehanna Financial has upgraded both alternative energy supplies to ‘positive’ from ‘neutral’, based on the expected expansion of solar power plants in the coming years and the strength of the two businesses in the residential sector. Enphase rose 3.3% in the futures market, while SolarEdge rose 2.1%.
Ford Motor (F) – Ford shares rose 2.5% in after-market trading after Barclays upgraded the stock to “overweight” of “equal weight”, and the price target on the stock to $ 16 per share of $ 9 increase. Barclays is encouraged, among other things, by Ford’s evolving strategy for electric vehicles.
Coherent (COHR) – The laser technology company remains vigilant as it contemplates competitive acquisitions of Lumentum (LITE) and II-VI (IIVI). Coherent first entered into an agreement that Lumentum acquired in January, but has since received eight offers and revised offers.
Molson Coors (TAP) – The brewery’s stock fell 2.3% in market action after Deutsche Bank added it to its short-term sales catalyst list. Deutsche Bank said the call is based on short-term problems, including a significant impact on first-quarter results due to the unfavorable weather in February in Texas.
Petco Health (WOOF) – The pet supply retailer has been upgraded to ‘buy’ ‘neutral’ from Bank of America Securities, saying Petco’s fourth-quarter and 2021 results are above expectations. The stock jumped 2.8% in trading to the market after losing 3.8% on Thursday.
Hims & Hers Health (HIMS) – Hims & Hers Health’s shares fell 3.3% in the futures market after the telecom health company reported a net quarterly loss of $ 3.1 million, although it was less than the loss of $ 12.4 million a year earlier. However, revenue came in higher than expected, and total revenue increased by 80% in 2020.
Sarepta Therapeutics (SRPT) – The drugmaker’s shares rose 5.4% in market trading, following the results of a trial involving an experimental muscular dystrophy treatment.