Take a look at some of the biggest drivers in the pre-market:
Lyft (LYFT) – The hitchhiking company said last week it saw the highest level of travel volume since the pandemic last March. As a result, Lyft expects to report a lower quarterly loss than it had previously projected. Lyft’s shares jumped 5.6% in the pre-market.
Las Vegas Sands (LVS) – The casino operator’s shares rose 3% in the pre-market after it announced an agreement to sell its Las Vegas properties to private equity firms Apollo Global (APO) and VICI Properties for $ 6 , 25 billion. The sale includes The Venetian Resort Las Vegas and the Sands Expo and Convention Center. Apollo Global shares gained 2.1%.
Wendy’s (WEN) – The restaurant chain lost estimates by one cent per share, with quarterly earnings of 17 cents per share. Revenue also fell short of forecasts. Comparable global sales increased 4.7%, shy of FactSet’s consensus estimate of 5.7% due mainly to international weakness. Its shares fell 3.3% in the pre-market.
Dollar Tree (DLTR) – The discount retailer earned $ 2.13 per share in the fourth quarter, exceeding estimates by 2 cents per share. Revenue was essentially in line with expectations. Comparable store sales increased 4.9%, below the estimate of 5.5% of analysts surveyed by FactSet. The company’s shares fell 2% in the pre-market.
Hewlett Packard Enterprise (HPE) – HPE exceeded estimates by 11 cents per share, with quarterly earnings of 52 cents per share. The revenue of the corporate computing hardware manufacturer was also above forecasts. The company has issued strong guidance for the current quarter and for the entire year, as it continues to benefit from the pandemic-inspired digital transformation.
Box (BOX) – Box reported quarterly earnings of 22 cents per share, 5 cents per share above estimates. Revenue also exceeded projections. The online data storage company also released a better-than-expected forecast for the entire year and expects the current quarter to have revenue above $ 200 million for the first time.
Nordstrom (JWN) – Nordstrom earned 21 cents per share in the last quarter, 7 cents per share above estimates. The retailer also reported better-than-expected revenue. Nordstrom was helped by a boost in digital sales, as well as growth in its discount operation, but the retailer warned that it would have to clean up excess holiday inventory through this discount channel. The shares fell 2.6% in pre-market share.
FuboTV (FUBO) – FuboTV reported quarterly revenue in excess of $ 100 million for the first time, with the live sports streaming company reporting better-than-expected sales of $ 105.1 million. The number of subscribers increased by 73% over the previous year, to a total of 548,000. Its shares fell 4% in the pre-market, however, after a jump of almost 50% in the accumulated result for the year.
Rocket Companies (RKT) – Rocket’s shares have been volatile in the premarket after more than doubling in the past three sessions. The parent company Quicken Loans and Rocket Mortgage has attracted more and more attention in online forums, with investors observing the high level of unsecured interest. Rocket’s shares fell 5.5% in the pre-market share.
Urban Outfitters (URBN) – Urban Outfitters beat estimates by 2 cents per share, with quarterly earnings of 30 cents per share. Clothing retailer revenue fell slightly below Wall Street forecasts, however, and gross profit margins fell more than 3 percentage points from the previous year. Its shares fell 1.6% in the pre-market.
Ross Stores (ROST) – Ross Stores sank 3.1% in the pre-market after reporting quarterly earnings of 67 cents per share, below $ 1.00 per stock consensus estimate. The discount retailer’s revenue was also below estimates, hampered by the closing of stores related to the pandemic in California.