Take a look at some of the biggest drivers in the pre-market:
Nike (NKE) – Nike came in at 14 cents per share above estimates, with quarterly earnings of 90 cents per share. The footwear and sportswear company’s revenue was below analysts’ projections, however, and its revenue forecast for the entire year was also timid. Nike said revenue in North America was affected by port problems, which delayed shipments by up to three weeks. Nike’s shares fell 3.2% in the pre-market.
FedEx (FDX) – FedEx reported quarterly earnings of $ 3.47 per share, exceeding the consensus estimate of $ 3.23 per share. Revenue was also above expectations. FedEx’s average revenue per package for its Land service increased by 11% as it continues to benefit from the pandemic-related increase in e-commerce orders. Its shares jumped 4% in the pre-market share.
Skillz (SKLZ) – Skillz fell 7% in pre-market share after the mobile gaming company announced a public offering of 32 million shares. The offer cost $ 24 per share, with Skillz selling 17 million shares and certain shareholders selling the rest. Skillz said he would use the funds for general corporate purposes.
AstraZeneca (AZN) – AstraZeneca’s Covid-19 vaccine received support from Canadian regulator Health Canada, which joined European countries in stating that the vaccine is not linked to an increase in blood clots. Countries that have temporarily suspended the use of the vaccine have returned to administering the vaccines.
Hartford Financial (HIG) – The financial services company said it was “carefully considering” a proposed acquisition of insurance company Chubb (CB) for $ 65 per share or more than $ 23 billion. Hartford’s shares rose 18.7% on Thursday after news of the offer, although it is returning about 1.4% in pre-market trading.
Ollie’s Bargain Outlet (OLLI) – Ollie’s hit is estimated at 14 cents per share, with a quarterly profit of 97 cents per share. The discount retailer’s revenue was also above Wall Street forecasts. Comparable store sales increased 8.8%, exceeding FactSet’s consensus forecast of a 3.2% increase. Ollie’s shares were up 4.6% in the pre-market.
Enphase (ENPH), SolarEdge Technologies (SEDG) – Susquehanna Financial updated both alternative energy stocks from “neutral” to “positive”, based on an anticipated expansion in solar installations in the coming years and the strength of the two companies in the residential sector . Enphase rose 3.3% in the pre-market, while SolarEdge rose 2.1%.
Ford Motor (F) – Ford shares rose 2.5% in pre-market trading after Barclays raised “equal weight” to “overweight” shares and raised its target price to $ 16 per share from $ 9. Barclays is encouraged by Ford’s electric vehicle development strategy, among other factors.
Coherent (COHR) – The laser technology company remains alert as it weighs competing takeover offers from Lumentum (LITE) and II-VI (IIVI). Coherent first closed a deal to be acquired by Lumentum in January, but has received eight subsequent proposals and offers reviewed since then.
Molson Coors (TAP) – The brewery’s shares fell 2.3% in pre-market shares after Deutsche Bank added them to its “short-term sales catalyst” list. Deutsche Bank said the call is based on short-term concerns, including a material impact on first quarter results due to February’s adverse weather in Texas.
Petco Health (WOOF) – The pet supplies retailer has been upgraded to “buy” from “neutral” at Bank of America Securities, saying Petco’s fourth-quarter and 2021 results were above expectations. The shares jumped 2.8% in the pre-market trades, after losing 3.8% in Thursday’s trades.
Hims & Hers Health (HIMS) – Hims & Hers Health shares fell 3.3% in the premarket after the telehealth company reported a net loss of $ 3.1 million quarterly, although it was less than the $ 12.4 million loss reported a year earlier. Revenue was above expectations, however, and total revenue increased by 80% in 2020.
Sarepta Therapeutics (SRPT) – The pharmaceutical company’s shares rose 5.4% in pre-market trading after it reported optimistic results in a study involving an experimental treatment for muscular dystrophy.