Check out some of the biggest drivers in the front market:
Stitch Fix (SFIX) – Stitch Fix lost 20 cents a share for its last quarter, 2 cents a share less than analysts had expected. Revenue for the online clothing styler was less than Wall Street’s forecasts, and Stitch Fix lowered its lead for the financial year starting in July due to the longer cycle time. Stitch Fix does not recognize revenue until a customer finalizes a ‘Fix’ by returning unwanted items and paying for the items held. Stitch Fix shares tumbled 24% ahead of the market.
Dick’s Sporting Goods (DKS) – The sporting goods retailer posted quarterly earnings of $ 2.43 per share, 15 cents per share above the calculation. The revenue also beats Wall Street forecasts. Comparative store sales increased 19.3% compared to a consensus FactSet estimate of 17.1%. Dick’s forecast was also for the annual profit of $ 4.40 to $ 5.20 per share, compared to a Refinitiv consensus estimate of $ 5.15 per share. In addition, Dick’s announced a quarterly dividend increase of 16%. The stock fell 7.2% ahead of the market.
Thor Industries (THO) – The recreational vehicle manufacturer posted quarterly earnings of $ 2.38 per share, well above the $ 1.55 per share consensus estimate. The revenue also achieved the best forecasts. Thor warned that supply chain issues could have a negative impact in the short term, but the company is cautiously optimistic that issues will decline in the second half of the year.
Children’s Place (PLCE) – The retailer for children reported a quarterly earnings of $ 1.01 per share, compared to a consensus estimate of a loss of 23 cents per share. Turnover also beats the forecasts, and a comparative sales increase of 1% compared to a consensus FactSet estimate of a slide of 10.7%.
Baidu (BIDU) – The China-based search engine giant’s shares jumped 6.4% ahead of news that it had received approval from the Hong Kong Stock Exchange.
Discovery Communications (DISCA) – Discovery shares rose 3.9% in the futures market, possibly achieving a seven-day victory, meaning the media company’s shares rose 31% during that period. It is among strongly shortened stocks that have recently made strong gains.
Peloton (PTON) – Peloton is expanding to the Asia-Pacific region for the first time, announcing its plans to sell its fitness bike and interactive membership app in Australia from the second half of the year. The share of Peloton gained 4.7% in action before the market.
Li Auto (LI), Nio (NIO), Xpeng (XPEV) – The China-based electric vehicle manufacturers are all planning to list in Hong Kong only this year, according to people with direct knowledge of the matter who spoke to Reuters. All three have already been listed on the US stock exchange, and Hong Kong listings could total $ 5 billion. Li Auto rose 4.3% in the futures market, Nio rose 4.3% and Xpeng rose 5.9%.
Zoom (ZM) – Zoom CEO and founder Eric Yuan has transferred about 40% of his stake in the video communications platform company, according to a statement from the Securities and Exchange Commission. The transfers – worth about $ 6 billion – were made as gifts to unspecified recipients of two trusts, while Zoom only said that the transactions were part of the estate planning process for Yuan and his wife. Zoom increased by 3.6% in the pre-trade.
MoneyGram International (MGI) – Blockchain firm Ripple and MoneyGram have terminated their partnership for unspecified reasons. Ripple bought a $ 30 million stake in the payment services company in 2019, with the partnership lasting two years. Brad Garlinghouse, CEO of Ripple, said the companies are committed to revisiting the partnership in the future. MoneyGram fell 9.1% in the futures market.
Tesla (TSLA) – Tesla rose 5% in the forex market after falling for five live sessions and losing 21% over the period. This is the third significant sell-off in Tesla shares in the past year, with a 20% plus drop from the recent highs in March and September 2020.
FirstEnergy (FE) – Activist investor Carl Icahn is in talks with the utility about the possibility of taking two seats on the board, according to people familiar with the matter who spoke to Bloomberg. Icahn is said to have built up a “substantial” stake in FirstEnergy and wants to help the company put a federal corruption scandal and other issues behind it.
Del Taco (TACO) – Del Taco earned quarterly earnings of 20 cents per share, beating the consensus by 6 cents per share. The restaurant chain’s revenue came slightly above Wall Street’s forecasts. Comparable restaurant sales increased by 3.8% during the quarter. Del Taco shares added 3.2% in pre-market performance.