Virgin Galactic, Kohl’s, Cisco Systems and more
Take a look at some of the biggest players in the pre-market:
Galactic Virgo (SPCE) – Virgin Galactic shares jumped 14.1% in the pre-market after the space travel company’s announcement the next test flight of its SpaceShipTwo Unity will take place on May 22. Virgin Galactic said a maintenance review on VMS Eve – the mothership that will carry SpaceShipTwo Unity aloft – has been completed.
Hormel Foods (HRL) – Hormel reported quarterly profit of 42 cents per share, one penny per share above estimates. The food producer’s income also exceeded analysts’ forecasts. The company behind brands like Spam, Dinty Moore and Jennie-O said demand across its various channels remains high from pre-pandemic levels.
BJ Wholesale (BJ) – The warehouse retailer reported quarterly profit of 72 cents a share, 15 cents a share above estimates. Income also exceeded estimates. The retailer’s non-fuel comparable store sales fell 5%, but that was less than the 8.3% drop predicted by analysts polled by FactSet. BJ also said the rest of 2021 remains difficult to predict. Its shares fell 3.3% in pre-market.
Kohl’s (KSS) – Kohl’s shares fell 3.6% pre-market, despite beating up and down for its final quarter. Kohl’s earned $ 1.05 per share, compared to a consensus estimate of 4 cents per share. Revenue exceeded expectations and the retailer raised its outlook as well.
Petco (WOOF) – Petco gained 1% in pre-market share, after reporting quarterly earnings of 17 cents per share, against a consensus estimate of 9 cents per share. The pet products retailer’s revenue also beat Wall Street forecasts and raised its outlook for the full year.
Cisco Systems (CSCO) – Cisco beat estimates of a penny per share, with quarterly profit of 83 cents per share. The network equipment maker’s revenue also beat Wall Street’s forecast, but Cisco released a weaker-than-expected forecast for the current quarter. The company said its profit margins were under pressure from supply chain challenges. Cisco shares fell 5.6% pre-market.
Brands L (LB) – L Brands came in at 4 cents per share above estimates, with quarterly profit of $ 1.25 per share. The revenues are very slightly above the consensus. Comparable store sales at its Victoria’s Secret unit jumped 25%, while Bath & Body Works saw a 16% same-store sales increase. The company is not providing guidance for the full year and has also said it aims to complete its split into two separate companies by August. The company’s shares fell 2% in pre-market share.
Square space (SQSP) – Squarespace remains on the prowl after the website hosting company’s stock fell in its first day of trading. Squarespace went public via a direct listing, with a benchmark price of $ 50 and initial trading of $ 48, but the value was lower than it was in a private stock sale earlier this year. .
Synopsys (SNPS) – Synopsys shares rose 2.2% in the pre-market after beating highs and lows for its most recent quarter, with profits nearly doubling from a year ago for the semiconductor testing and design software manufacturer. The company said demand is strong and anticipates a new wave of growth to come.
Shoe carnival (SCVL) – Shares of Shoe Carnival slipped 7.2% in pre-market trading after the shoe retailer predicted lower sales in the current quarter compared to a year ago. The company did not provide a outlook for the second half of the year, citing supply chain issues and other potential uncertainties.
Coinbase (COIN) – Coinbase is on the prowl after the cryptocurrency exchange operator’s shares fell for the past six days in a row, now down more than 40% from its initial trade on the 14th. April, the day it went public. Wedbush initiated a hedging of the stock with an “outperformance” rating, citing strong adoption of the cryptocurrency. Its shares rose 1.7% in pre-market action.