Take a look at some of the biggest pre-market drivers:
GameStop (GME) – GameStop remains alert after another rise driven by Reddit on Wednesday in shares in the video game retailer, as well as other so-called “Reddit shares” such as BlackBerry (BB), AMC Entertainment (AMC) and Koss Corp. KOSS). GameStop rose 55.8% in the pre-market, while AMC rose 12.9%, BlackBerry rose 4.3% and Koss rose 81.3%.
Best Buy (BBY) – Electronics retailer shares fell 5.3% in the pre-market after its revenue and sales at comparable stores lost Wall Street forecasts for the holiday quarter as the pandemic fueled the demand for electronics decreasing. Best Buy’s quarterly earnings of $ 3.48 per share exceeded estimates by 3 cents per share, however.
Moderna (MRNA) – The pharmaceutical company’s shares rose 2.9% in pre-market stocks, as its quarterly revenue far exceeded estimates and predicted $ 18.4 billion in Covid-19 vaccine sales this year. Moderna, however, reported a quarterly loss of 69 cents per share, greater than the loss of 35 cents a share that analysts were anticipating.
Wayfair (W) – The seller of furniture and household goods earned $ 1.24 per share in the last quarter, above the consensus estimate of 86 cents per share. Revenue was slightly below Wall Street forecasts, as well as the number of orders and shares fell 9% before the market.
Norwegian Cruise Line (NCLH) – The cruise operator’s shares rose 1.9% in the pre-market after quarterly revenue was well above estimates, despite Covid-19-related cruise stoppage. Its loss of $ 2.33 per share in the last quarter was slightly greater than the consensus estimate of loss of $ 2.17 per share.
Anheuser-Busch InBev (BUD) – Anheuser-Busch reported better-than-expected profit and revenue in the fourth quarter. The company also predicts higher earnings for 2021, however, the brewery said its profit margins would be hurt by higher commodity costs. Its shares fell 5.3% in the pre-market.
ViacomCBS (VIAC) – ViacomCBS came in at 2 cents a share ahead of estimates, with quarterly earnings of $ 1.04 per share. Revenue was essentially in line with Wall Street forecasts. The company also said it had 30 million streaming subscribers before the planned March 4 launch of the Paramount + service, which will replace the current CBS All Access service. Its shares fell 2.8% in pre-market stocks.
Teladoc Health (TDOC) – Teladoc fell 6.5% in the pre-market session after reporting a loss of 27 cents per share in the last quarter, 3 cents more than Wall Street expected. The video provider’s medical revenue was above estimates.
Nvidia (NVDA) – Nvidia reported quarterly earnings of $ 3.10 per share, compared to a consensus estimate of $ 2.81 per share. The company best known for its gaming chips has also seen revenue exceed estimates. Nvidia also predicted strong revenue for the current quarter, but shares fell 2.6% in the pre-market share.
Fisker (FSR) – Fisker closed an agreement with the contracted manufacturer Foxconn Technology to assemble cars for starting electric vehicles. The agreement provides for companies to jointly produce more than 250,000 vehicles per year. The shares fell 1% in the pre-market.
Pfizer (PFE) – The Covid-19 vaccine developed by Pfizer and BioNTech (BNTX) works equally well in all age groups, according to an Israeli study. It provided 94% protection against the development of coronavirus symptoms one week after the second dose of the vaccine and 92% effectiveness in preventing serious diseases.
Verizon (VZ) – Verizon was the largest bidder in a government 5G wave auction, spending $ 45.5 billion, while AT&T (T) bid $ 23.4 billion and T-Mobile US ( US $ 9.3 billion.
Pure Storage (PSTG) – Pure Storage cost 4 cents per share ahead of estimates, with quarterly earnings of 13 cents per share. The provider of enterprise memory storage systems also saw revenue exceed Wall Street forecasts. Pure Storage gave a mixed forecast, but it was the first time it gave any guidance since the pandemic began. The shares gained 2.5% in the pre-market.
L Brands (LB) – L Brands earned $ 3.30 per share in the last quarter, 12 cents per share above estimates. Victoria’s Secret father’s recipe fell short of forecast. L Brands, which also owns the Bath & Body Works chain, gave strong guidance on earnings for the current quarter. L Brands grew 2.7% in the pre-market.