Stocks That Make The Biggest Moves In The Pre-Market: Foot Locker, Beyond Meat, DoorDash & More
Check out some of the largest moving companies on the pre-market:
Foot Locker (FL) – Foot Locker shares rose 12.1% in premarket trading after quarterly sales were below Street forecast and sales in similar stores unexpectedly declined. The sportswear and footwear retailer also reported quarterly earnings of $ 1.55 per share, beating the consensus by 20 cents per share.
DraftKings (DKNG) – The online sports games company’s shares rose 3.2% in the pre-market after DraftKings reported better-than-expected quarterly revenue and raised its full-year revenue forecast. The company is seeing a significant surge in user activation due to marketing spending and further legalization of the sports game.
Cinemark (CNK) – The cinema operator’s stock fell 2.6% in the pre-market after reporting a higher than expected loss for the last quarter. Cinemark has been hit by pandemic theater closings, even though quarterly revenue surpassed Wall Street forecasts.
Salesforce.com (CRM) – Salesforce earned $ 1.04 per share last quarter, beating the consensus estimate of 75 cents per share. Revenue also exceeded forecasts, but the business software giant issued a weaker-than-expected profit forecast for the full year. Analysts are also concerned about the impact of the company’s acquisition of the Slack (WORK) messaging platform. Salesforce shares fell 4.4% in the pre-market.
Rocket Companies (RKT) – The parent company of Quicken Loans and other financial services offerings reported quarterly earnings of $ 1.09 per share, compared to a consensus estimate of 87 cents per share. Sales also exceeded forecasts. Rocket closed a year in record mortgage volume and announced it will pay a special dividend of $ 1.11 per share. The rocket stock rose 9.1% in premarket trading.
AT & T (T) – AT & T is spinning off its DirecTV and other pay TV services into a separate company, with private equity firm TPG Capital owning 30% of the new company. The deal will provide AT&T with $ 8 billion in cash to be used to pay off debt. The deal values the total pay-TV services at $ 16.25 billion, compared with the $ 66 billion AT&T paid for DirecTV in 2015 alone.
Beyond Meat (BYND) – Beyond Meat has signed a three-year contract as the preferred supplier for McDonald’s (MCD) plant-based burger “McPlant” and an exclusive supply agreement with Taco Bell mother Yum Brands (YUM). Investor enthusiasm for the deals helped erase losses the stock had previously recorded after Beyond Meat reported a larger-than-expected quarterly loss. Beyond Meat shares rose 6.2% in premarket trading.
Airbnb (ABNB) – Airbnb posted a loss as a publicly traded company in the first quarter. However, the company generated better than expected revenue as the pandemic caused consumers to get involved in local travel.
Etsy (ETSY) – Etsy earned $ 1.08 per share last quarter, well above the consensus estimate of 59 cents per share. In the online craft market, revenue also exceeded Wall Street forecasts. Etsy also issued an upbeat forecast for the current quarter, and its stocks rose 6% in the pre-market.
DoorDash (DASH) – DoorDash posted better-than-expected sales in the fourth quarter, tripling year over year as the pandemic led to a surge in restaurant delivery orders. However, DoorDash predicts a slowdown in orders as Covid-19 vaccines roll out. Its shares rose 11.4% in premarket trading.
Nikola (NKLA) – Nikola shares fell 2.1% in the pre-market after the electric vehicle maker announced in a Securities and Exchange Commission filing that founder Trevor Milton made several inaccurate statements about its technology. Nikola had previously denied directing misleading communications to the public.
WW International (WW) – WW made 18 cents per share last quarter, less than 32 cents per stock consensus estimate, even though WW earnings exceeded estimates. The company has seen strong growth in digital subscriptions but a decline when its virtual workshops are included. Their shares fell by 9.7% in the pre-market.
Working Day (WDAY) – Workday reported quarterly earnings of 73 cents per share, beating the consensus estimate of 55 cents per share. The sales of the personnel software company were slightly above forecasts. Workday issued a weaker-than-expected forecast for subscription sales for the fiscal year, dropping its shares in premarket trading by 7.2%.
Groupon (GRPN) – The Daily Deals firm nearly doubled its consensus estimate at 26 cents per share with quarterly earnings of 51 cents per share. The revenue also exceeded Wall Street forecasts. Their shares rose by 13.1% in the pre-market.