Target, Lowe’s, MicroStrategy, CarMax and more
Take a look at some of the biggest players in the pre-market:
Target (TGT) – Target earned $ 3.69 per share for the first quarter, well above the consensus estimate of $ 2.25 per share, with earnings also above analysts’ expectations. Comparable store sales jumped 22.9%, more than double the expectations of analysts polled by FactSet. Target stocks jumped 3.8% in pre-market trading.
Lowe’s (LOW) – The home improvement retailer reported first quarter profit of $ 3.21 per share, beating the consensus estimate of $ 2.62 per share. Revenue also beat Wall Street’s forecast, and a 24.4% increase in same-store sales beat the FactSet consensus forecast by a 20.3% increase. Despite the pace, Lowe’s shares fell 2% in the pre-market.
Take-Two Interactive (TTWO) – Take-Two gained 94 cents per share for its fiscal fourth quarter, beating the consensus estimate of 67 cents per share. The video game maker’s revenue also exceeded expectations as it continued to benefit from the surge in video game business driven by the pandemic. Take-Two gave a weaker-than-expected forecast, however, as confidence in vaccinations drives more people out of their homes. The company’s shares added 2% to the pre-market shares.
JD.com (JD) – The China-based e-commerce company posted better-than-expected earnings and revenue for the first quarter, with an expanded product line helping grow active customer accounts by 29% year-on-year . JD.com US stocks gained 1% in the pre-market.
AstraZeneca (AZN) – AstraZeneca’s Covid-19 vaccine works well as a third booster injection, according to a study by the University of Oxford co-developer reported by the Financial Times.
Macy’s (M) – Macy’s was outperformed in “tactical outperformance” at Evercore, which notes the retailer’s outperformance in its first quarter results report and what he calls a “healthier” business structure.
Wells fargo (WFC) – Wells Fargo has been demoted to “neutral” from “buy” at UBS, which said the bank’s risk / reward profile was no longer attractive after rising 59% since the start of the year. year of actions and an increase of 123% since the end of October. Its shares lost 1.3% in pre-marketing.
MicroStrategy (MSTR) – MicroStrategy shares fell 5.8% in pre-market as the price of bitcoin plunged below $ 40,000 in overnight trading. The business analysis company has several billion dollars in bitcoin holdings on its books.
Southwest Airlines (LUV) – Southwest said its April revenue rose from March levels due to improved leisure travel, and said leisure travel fares were approaching their level. June 2019. Southwest warned, however, that business travel demand still lags significantly behind leisure travel. Its shares lost 1.5% in pre-marketing.
CarMax (KMX) – Shares of the auto retailer fell 2.4% in the pre-market after Wedbush Securities downgraded the stock to “neutral” from “outperform”. Wedbush said the current valuation already reflects the long-term outlook for the company and also sees short-term trends decelerating.