Check out some of the biggest drivers in the front market:
Okta (OKTA) – Okta gained 10.5% in terms of trading on the market after announcing that it was buying the customer management software provider Auth0 for $ 6.5 billion in stock. The identity management software provider also has a quarterly earnings of 6 cents per share compared to the consensus forecasts of a loss of 1 cent per share. Okta also gave a weaker-than-expected earnings forecast for the current quarter.
Marvell Technology (MRVL) – Marvell shares fell 5.9% in the futures market after the chipmaker issued a disappointing outlook, saying disc stock could remain tight throughout the financial year. Marvell is in line with estimates of its latest quarterly earnings, and revenue is above analysts’ forecasts.
Vroom (VRM) – Vroom tumbled 14.9% in market performance after reporting a larger-than-expected loss for the last quarter, although sales of the online used cars achieved the above estimates.
BJ’s Wholesale (BJ) – The warehouse retailer earned 70 cents per share for its last quarter, beating the 67 cents per share consensus estimate. Turnover also achieved the best forecasts, and a 15.9% increase in sales from 15.9% of fuel sales was expected to increase by 15.5% by FactSet analysts. BJs did not want to lead for 2021 due to uncertainty with pandemic. Its shares lost 1.6% in the pre-trade.
Burlington Stores (BURL) – The retailer of clothing and other merchandise earned quarterly earnings of $ 2.44 per share, 32 cents per share above the calculation. Revenue also exceeded Wall Street forecasts. Comparative stores’ sales were low for the quarter against expectations of a 10% decline.
Ciena (CIEN) – The network equipment maker beat estimates at 7 cents a share, with a quarterly earnings of 52 cents a share. The revenue also met the forecast of analysts. Ciena shares fell 3.1% in the forex market, despite poor forecasts.
Rocket Companies (RKT) – Rocket shares are moving between gains and losses in market trading, following the big swing of the past few days. The Quicken Loans parent’s share fell 33% on Wednesday after rising 71% the previous day amid greater attention in online financial forums. The shares rose 1.8% in the pre-market.
CureVac (CVAC) – The German drugmaker’s shares rose 4.1% in the pre-market after Novartis (NVS) said it would help CureVac manufacture its Covid-19 vaccine once the drug was approved by regulators.
Walt Disney (DIS) – Disney plans to close about 60 of its Disney stores in North America by the end of the year, as it focuses on its e-commerce operations. There are currently about 300 stores worldwide. Disney shares fell 1% in market action.
General Electric (GE) – GE shares rose 2.2% after Morgan Stanley raised its share price target to a $ 17-per-share high of $ 13 per share, based in part on a possibly significant recovery in GE’s aviation segment.
Amazon.com (AMZN) – Amazon is in talks with the National Football League to run a significant number of games exclusively on its Prime video service, according to people familiar with the matter who spoke to The Wall Street Journal. Under the deal, Amazon could pay $ 1 billion for exclusive rights to most games on Thursday.
Snowflake (SNOW) – Snowflake lost nearly $ 199 million in the fourth quarter, more than double the loss of the cloud database software company. Revenue also more than doubled during the quarter, which was above consensus forecasts. After a record-breaking first public offering for a software company last year, the closing of the sale of insider shares will expire tomorrow.
American Eagle (AEO) – American Eagle defeated estimates at 3 cents per share, with a quarterly earnings of 39 cents per share. The clothing retailer’s revenue came in slightly higher than Wall Street’s forecasts. American Eagle also predicts its best sales in the first quarter in three years, driven by growth in the Aerie loungewear and lingerie brand. American Eagle rose 2.2% in the futures market.
Walmart (WMT) – Walmart’s Flipkart unit is investigating the idea of a US listing, possibly through a merger of a special purpose acquisition company (SPAC), according to people familiar with Bloomberg. Walmart acquired a majority stake in the Indian e-commerce business in 2018.
Splunk (SPLK) – The analytics software company posted a quarterly earnings of 38 cents per share, well above the consensus estimate of 4 cents per share. Splunk also performed better than expected revenue. Its shares rose 3.4% in pre-trading.