Stocks Making The Biggest Moves In The Pre-Market: Nike, FedEx, Skillz, Ford & More
Check out some of the largest moving companies on the pre-market:
Nike (NKE) – Nike was above estimates at 14 cents per share, with quarterly earnings of 90 cents per share. However, sales for the athletic shoe and apparel company fell short of analysts’ forecasts, and the full-year sales outlook also fell short of estimates. North America’s revenue was hit by port issues that delayed shipping for up to three weeks, according to Nike. The Nike share fell 3.2% in premarket trading.
FedEx (FDX) – FedEx reported quarterly earnings of $ 3.47 per share, beating consensus estimate of $ 3.23 per share. Sales were also above forecasts. FedEx’s average revenue per parcel for its ground service increased 11% as FedEx continued to benefit from the pandemic-induced surge in e-commerce orders. Its stocks rose 4% before entering the market.
Skillz (SKLZ) – Skillz fell 7% in the pre-market after the mobile game company announced a public offering of 32 million shares. The offering cost $ 24 per share, with Skillz selling 17 million shares and certain shareholders selling the remainder. Skillz said it would use the proceeds for general corporate purposes.
AstraZeneca (AZN) – AstraZeneca’s Covid-19 vaccine was endorsed by Canadian regulatory agency Health Canada, which, along with European countries, stated that the vaccine was not linked to an increase in blood clots. Countries that temporarily stopped using the vaccine have now resumed the administration of gunshots.
Hartford Financial (HIG) – The financial services company is “carefully” considering an acquisition proposal from insurance company Chubb (CB) for $ 65 per share, or more than $ 23 billion. Hartford shares rose 18.7% on Thursday after the offer was announced, despite returning about 1.4% in premarket trading.
Ollie’s Bargain Outlet (OLLI) – Ollie’s beats estimates by 14 cents per share on quarterly earnings of 97 cents per share. The discounter’s revenues were also above Wall Street’s forecasts. Sales in comparable branches rose by 8.8% and thus exceeded the consensus-based FactSet forecast of 3.2%. Ollie shares rose 4.6% in premarket trading.
Enphase (ENPH), SolarEdge Technologies (SEDG) – Susquehanna Financial raised both alternative energy stocks from “neutral” to “positive” based on expected solar expansion in the coming years and the strength of the two companies in the residential space. Enphase rose 3.3% in the pre-market, while SolarEdge gained 2.1%.
Ford Motor (F) – Ford stock rose 2.5% in premarket trading after Barclays upgraded the stock from “equilibrium” to “overweight” and raised its price target for the stock from $ 9 to $ 16 per share . Barclays is encouraged, among other things, by Ford’s evolving strategy for electric vehicles.
Coherent (COHR) – The laser technology company remains vigilant as it considers competing takeover bids from Lumentum (LITE) and II-VI (IIVI). Coherent has closed a deal for the first time, which is set to be acquired by Lumentum in January. Since then, Coherent has received eight additional offers and revised offers.
Molson Coors (TAP) – The brewer’s inventory fell 2.3% in the pre-market after Deutsche Bank added it to its “short-term sales catalysts” list. Deutsche Bank said the solicitation was based on short-term concerns, including a material impact on first quarter results due to poor February Texas weather.
Petco Health (WOOF) – The pet supplies retailer has switched to “Buy” from “Neutral” at Bank of America Securities. Petco’s results for the fourth quarter and 2021 were above expectations. The stock rose 2.8% in premarket trading after losing 3.8% on Thursday.
Hims & Hers Health (HIMS) – Hims & Hers Health shares fell 3.3% in the pre-market after the telehealth company reported a quarterly net loss of $ 3.1 million, even though it was lower than the loss reported the previous year of $ 12.4 million. However, sales were higher than expected, and total sales increased 80% through 2020.
Sarepta Therapeutics (SRPT) – The drugmaker’s shares rose 5.4% in premarket trading after positive results were reported in a study of an experimental treatment for muscular dystrophy.