Take a look at some of the biggest pre-market drivers:
Foot Locker (FL) – Foot Locker’s shares plunged 12.1% in the pre-market after quarterly revenue was below Street forecasts and comparable store sales fell unexpectedly. The sportswear and footwear retailer also reported quarterly earnings of $ 1.55 per share, exceeding the consensus by 20 cents per share.
DraftKings (DKNG) – Shares in the online sports games company increased 3.2% in the premarket after DraftKings reported better-than-expected quarterly revenue and increased its revenue forecast for the entire year. The company said it is seeing a substantial increase in user activation due to marketing and legal expenses for sports gambling.
Cinemark (CNK) – The stock operator’s shares fell 2.6% in pre-market shares after it reported a larger-than-expected loss in its last quarter. Cinemark was affected by the closure of pandemic-related cinemas, although quarterly revenue has exceeded Wall Street forecasts.
Salesforce.com (CRM) – Salesforce earned $ 1.04 per share in the last quarter, exceeding the consensus estimate of 75 cents per share. Revenue also exceeded forecasts, however, the business software giant gave a weaker-than-expected profit forecast for the entire year. Analysts also expressed concern about the impact of the company’s acquisition of the Slack (WORK) messaging platform. Salesforce’s shares fell 4.4% in the premarket.
Rocket Companies (RKT) – The parent of Quicken Loans and other financial services offerings reported quarterly earnings of $ 1.09 per share, compared with a consensus estimate of 87 cents per share. Revenue also exceeded forecasts. Rocket completed a year of record mortgages and announced that it would pay a special dividend of $ 1.11 per share. The rocket stock rose 9.1% in the pre-market.
AT&T (T) – AT&T is splitting its DirecTV and other pay TV services into a separate company, with private equity firm TPG Capital owning 30% of the new entity. The deal will provide AT&T with $ 8 billion in cash, which it will use to pay off debt. The deal values pay TV services at $ 16.25 billion, compared to the $ 66 billion that AT&T paid for DirecTV alone in 2015.
Beyond Meat (BYND) – Beyond Meat struck a three-year deal to be the preferred supplier of McDonald’s (MCD) “McPlant” vegetable burger and also struck an exclusive supply deal with Yum Brands (YUM), Taco’s parent company Bell. Investors’ enthusiasm for the business helped erase the losses that the stock had seen before, after Beyond Meat reported a larger-than-expected quarterly loss. Beyond Meat’s shares jumped 6.2% in the pre-market.
Airbnb (ABNB) – Airbnb reported a loss in the first quarter as a public company, but the company had better-than-expected revenue as the pandemic led consumers to embrace local travel.
Etsy (ETSY) – Etsy earned $ 1.08 per share in the last quarter, well above the 59 cents of a stock consensus estimate. The online craft market has also seen revenue beat Wall Street forecasts. Etsy also released an optimistic forecast for the current quarter, and its shares rose 6% in the pre-market.
DoorDash (DASH) – DoorDash reported better-than-expected sales during the fourth quarter, tripling last year’s levels as the pandemic spurred an increase in restaurant delivery orders. DoorDash is predicting a slowdown in orders, however, as the Covid-19 vaccines are launched. Its shares plunged 11.4% in the pre-market.
Nikola (NKLA) – Nikola’s shares fell 2.1% in the premarket after the electric vehicle maker said in a Securities and Exchange Commission document that founder Trevor Milton had made several inaccurate statements about his technology. Nikola had previously denied issuing misleading communications to the public.
WW International (WW) – WW earned 18 cents per share in its last quarter, down from 32 cents on a stock consensus estimate. The weight watchers’ father’s income exceeded estimates. WW is seeing strong growth in digital signatures, but a decline when its virtual workshops are included. The shares plunged 9.7% in the pre-market.
Workday (WDAY) – Workday reported quarterly earnings of 73 cents per share, exceeding 55 cents per stock consensus estimate. The human resources software company’s revenue was slightly above forecasts. Workday released a weaker-than-expected forecast for subscription sales during this fiscal year, causing its shares to drop 7.2% in the premarket.
Groupon (GRPN) – The daily trading company nearly doubled the consensus estimate of 26 cents a share, with a quarterly profit of 51 cents per share. Revenue also exceeded Wall Street forecasts. Its shares jumped 13.1% in the pre-market.