Check out some of the most important premarket engines:
Zoom Video (ZM): Zoom reported a quarterly profit of $ 1.22 per share, surpassing the consensus estimate of 79 cents per share. Revenue also exceeded forecasts and Zoom offered an optimistic forecast for the current quarter in anticipation that millions would continue to use its video messaging platform. Its shares jumped 7.4% ahead of the market.
Novavax (NVAX) – Novavax lost $ 2.70 per share during its last quarter, higher than the $ 1.49 loss per share that analysts predicted. The drug maker’s revenue also fell below Wall Street estimates. Novavax said its Covid-19 vaccine could be phased out for use in the United States as early as May, depending on whether regulators are willing to authorize it based on the results of a British trial. Shares of Novavax fell 5.1% in the pre-market.
Target (TGT): The retailer reported quarterly earnings of $ 2.67 per share, 13 cents per share above estimates. Revenue also exceeded analysts ’projections. Comparable store sales increased 20.5%, better than the 16.8% predicted by analysts surveyed by FactSet. Target also recorded more than double digital sales. Its shares rose 1% in premarket trading.
Kohl’s (KSS): Kohl’s reported a quarterly profit of $ 2.22 per share, including $ 1.15 per share in incremental tax benefits. This compares to a consensus estimate of $ 1.01 per share. Revenue exceeded forecasts and Kohl’s announced it would resume its dividend and stock repurchase program this year. It also forecasts sales growth for 2021. Retailer shares rose 1.6% in pre-market shares.
Nio (NIO): Nio fell 5.2% in trading before trading after recording a larger-than-expected loss over the past quarter. The China-based electric vehicle maker also issued a sales forecast for the current quarter showing slower-than-expected growth.
Kontoor Brands (KTB): The company behind clothing brands Lee and Wrangler earned $ 1.23 per share over the last quarter, compared to a consensual estimate of 97 cents per share. Revenue also exceeded estimates, driven by the strength of digital sales. Kontoor Brands also offered a better-than-expected full-year earnings forecast. Its shares rose 3.1% in the premarket.
AutoZone (AZO): The auto parts retailer reported a quarterly profit of $ 14.93 per share, surpassing the consensus estimate of $ 12.84 per share. Revenue also exceeded estimates. Sales in comparable stores increased 15.2% compared to a consensus FactSet estimate of 8.6%.
Beyond Meat (BYND): Plant-based food maker shares are up 1.2% in the pre-market after Citi updated stocks to “buy” from “neutral”. Citi believes the sales and cost issues that affected the most recent quarter are temporary. Shares had initially fallen on Monday after hourly trading after Beyond Meat said it planned to raise $ 750 million in a convertible ticket offer.
Nike (NKE) – Ann Hebert, the U.S. head of business, has left sportswear and footwear maker, and Nike has said it will announce a replacement soon. Hebert’s departure is due to the news that his son used a credit card in his name to buy sneakers for his resale company.
MercadoLibre (MELI) – MercadoLibre fell 2.4% ahead of the market, despite reporting record quarterly earnings and exceeding analysts’ forecasts. The Argentine e-commerce giant benefited from an increase in online shopping and digital payments in the Latin American market.
Roku (ROKU): Roku buys Nielsen’s digital advertising (NLSN) business for an undisclosed amount, allowing it to offer more specific ads on its streaming platform. Roku gained 1.3% ahead of the market, while Nielsen rose 6.8%.
Lemonade (LMND): Lemonade lost 60 cents per share during its last quarter, 5 cents per share less than expected. The online insurance company’s revenue was above estimates, but Lemonade issued a weaker-than-expected outlook for the current quarter. Its shares fell 6% in the premarket.
Square (SQ): Square gained 4.4% in premarket trading after announcing it began operating for its internal bank, Square Financial Services. The digital payments company’s bank will offer commercial loans to Square sellers.
Score Media and Gaming (SCR): Score Media rose 7.1% ahead of the market after saying subscribers to its recent initial public offering fully exercised its overbidding option. That brings the total money raised from the sports betting company’s IPO to $ 186.3 million.