Take a look at some of the most important premarket engines:
IMAX (IMAX): IMAX lost 21 cents per share, one cent per share more than analysts had predicted. The movie operator’s revenue exceeded Wall Street estimates. Sales were helped by stronger performances in Asian markets and the company expects to improve results as consumers return to cinemas this year. IMAX shares lost 3.7% in pre-market trading.
CoreLogic (CLGX) – CoStar Group (CSGP) withdrew its offer to buy CoreLogic, and the commercial property data provider said raising interest rates would hurt CoreLogic’s value. CoStar’s latest offer was worth $ 6.6 billion or $ 90 per share, compared to a previous higher offer of $ 6.9 billion or $ 95.76 per share. CoreLogic, a real estate data provider competing with Zillow (Z), had accepted a takeover bid last month from private equity firm Stone Capital and Insight Partners for $ 6 billion or $ 80 per share. CoStar jumped 5.5% in premarket trading, while CoreLogic fell 3.4%.
Big Lots (BIG): The discount retailer reported a quarterly profit of $ 2.59 per share, 9 cents per share above estimates. However, revenue matched forecasts and a comparable 7.9% increase in sales escaped the FactSet consensus consensus of 8.4%. Big Lots said it hoped its results this year would be significantly affected by the pandemic. Shares rose 1.3% in premarket trading.
Costco (COST): Costco reported quarterly earnings of $ 2.14 per share, which did not reach $ 2.45 per share. The warehouse retailer’s revenue exceeded expectations. Costco’s comparable sales increased 13%, while its digital sales increased 76%. The company also experienced supply chain problems that resulted in higher costs. Costco shares fell 1.9% in pre-market trading.
Norwegian Cruise Line (NCLH) – Cruise line operator shares fell 7% in premarket trading after announcing a public offering of 47.58 million shares. Norway plans to use the proceeds to withdraw the exchangeable debt from private equity firm L Catterton.
Gap (GPS): The parents of Gap, Old Navy and Banana Republic predict a rebound in clothing sales this year, as the Covid-19 pandemic recedes and people return to offices and schools. Sales in its most recent quarter fell short of Wall Street forecasts, although an increase in online sales helps offset the decline in pandemic-related traffic. Shares jumped 3.2% in premarketing stock.
Broadcom (AVGO): The chip maker exceeded estimates of 6 cents per share, with quarterly earnings of $ 6.61 per share. The company’s revenue slightly exceeded estimates. Still, shares fell 1% in the pre-market, as semiconductor sales were below analysts ’forecasts. The company and its partners continue to be affected by the lack of materials used to make chips.
Virgin Galactic (SPCE) – The president of the space company, Chamath Palihapitya, sold his personal shares of 6.2 million shares for about $ 213 million, according to a statement from the Securities and Exchange Commission. It still has 15.8 million shares with investment partner Ian Osborne. Its shares fell 3.1% in the premarket.
The Trade Desk (TTD): Trade Trade is back on track after losing 20% value over the past two days. The programmatic advertising technology provider was affected after Alphabet Google (GOOGL) said it would not use ad tracking technology to track people individually over the Internet. Shares lost another 1.4% in the premarket.
Western Digital (WDC): Western Digital shares rose 2.5% in pre-market shares after the memory chip and disk maker was upgraded to “buy” from “neutral” at Goldman Sachs. Goldman cited an improved outlook for memory chip prices, among other factors.
Boeing (BA) – The aircraft maker has approached a group of banks seeking a new $ 4 billion credit facility, according to Bloomberg and Reuters reports. Boeing had told analysts in January that the company had enough liquidity, but was open to raising debt as it considered options to bolster its balance sheet.
Van Eck Vectors Social Sentiment ETF (BUZZ) – The new publicly traded fund is back in effect today after falling 3.6% on its Wall Street debut on Thursday. The ETF is designed to focus on stocks that receive investor attention on Reddit, Twitter (TWTR) and other social media platforms.
Fifth Third Bancorp (FITB) – The bank was added to Goldman Sachs’ “Conviction Buy” list, which anticipates a significant improvement in interest margin for Fifth Third based on current trends in both long-term and short term. The fifth third rose 1.2% in premarketing stock.