Stitch Fix, Contango Oil & Gas, Coupa Software and more
Take a look at some of the biggest drivers in the premarket:
Point correction (SFIX) – Stitch Fix lost 18 cents per share for its first quarter, less than the 27 cents per share analysts were expecting. The online clothing design firm’s revenue has exceeded estimates. Stitch Fix also released bullish forecasts, against a backdrop of 20% growth in its active customer base from a year ago. Stocks climbed 14.8% in pre-market action.
Contango Oil and Gas (MCF) – The energy producer has agreed to partner with KKR (KKR) Independence Energy in an all-equity transaction. The combined company will have an initial market capitalization of approximately $ 4.8 billion. Contango stock jumped 10.3% in pre-market trading.
Coupa Software (COUP) – Coupa reported quarterly earnings of 7 cents per share, compared to Wall Street forecasts for a loss of 19 cents per share. Revenue exceeded estimates, and the financial software company also posted a bullish outlook. Despite the bullish numbers, Coupa shares fell 9.2% in pre-market trading.
Thor Industries (THO) – Shares of the recreational vehicle maker jumped 3.4% in the pre-market after beating estimates on both top and bottom results for its fiscal third quarter. Sales have more than doubled from a year ago, and the company said it saw no signs of slowing demand.
The SAF of Chico (CHS) – Chico’s jumped 6.6% in pre-market after the clothing retailer said it was taking all appropriate steps to improve performance and increase shareholder value. The statement was in response to a letter sent to management by activist investor Barington Capital. Separately, Chico’s posted better than expected quarterly earnings and sales on Wall Street.
Quickly (FSLY) – Shares of the cloud computing company fell 1.7% pre-release, but hit earlier lows resulting from an internet failure impacting websites supported by Fastly. Shortly after the outage, Fastly said they identified the problem and that a fix was being implemented.
You’re here (TSLA) – The automaker delivered 33,463 Chinese-made vehicles to the market in May, up 29% from April, when production was affected by a maintenance shutdown. Tesla grew 3% in pre-market.
AMC Entertainment (AMC) – AMC insiders have sold shares amid a social media-fueled rally in the cinema operator’s shares. According to a study of insider reporting by analytics firm InsiderScore, seven AMC insiders have sold a portion of their stakes since May 28, among nine who made sales this quarter, although CEO Adam Aron not one of them. There were no insider sales from AMC in 2020. AMC added 4.3% in the pre-market.
Marvell technology (MRVL) – Marvell shares jumped 5.5% in pre-market trading after beating Wall Street estimates on both high and low results in its first quarter. The chipmaker also expects its current quarter revenue to exceed $ 1 billion for the first time.
Nice Dr Pepper (KDP) – Shares of the beverage company lost 3.6% on the pre-market after announcing a secondary offering of 28 million common shares, for sale on behalf of food producer and Keurig shareholder Dr Pepper Mondelez (MDLZ). Keurig Dr Pepper will not receive any proceeds from the offer.
Vail Hotels (MTN) – Vail Resorts broke estimates by 18 cents per share, with quarterly earnings of $ 6.72 per share. The operator of the complex has also seen its highest revenue forecast. Vail said pass sales increased 50% in units and 33% in dollars from pre-pandemic results in 2019, as the company slashed pass sales prices by 20% seasonal.
Etsy (ETSY) – Etsy has announced a $ 1 billion private offering of senior convertible bonds, with the online craft market planning to use the proceeds to fund share buybacks and for general corporate purposes. business. Etsy fell 1.9% in pre-market trading.