Take a look at some of the biggest drivers in the pre-market:
Zoom Video (ZM) – Zoom reported quarterly earnings of $ 1.22 per share, exceeding the consensus estimate of 79 cents per share. Revenue also exceeded forecasts, and Zoom gave an optimistic forecast for the current quarter, anticipating that millions would continue to use its video messaging platform. Its shares jumped 7.4% in the pre-market.
Novavax (NVAX) – Novavax lost $ 2.70 per share in the last quarter, greater than the $ 1.49 loss per share analysts were anticipating. The pharmaceutical company’s revenue was also below Wall Street estimates. Novavax said its Covid-19 vaccine could be released for use in the United States as early as May, depending on whether regulators are willing to authorize it based on the results of a British test. Novavax shares fell 5.1% in the pre-market.
Goal (TGT) – The retailer reported quarterly earnings of $ 2.67 per share, 13 cents per share above estimates. Revenue also exceeded analysts’ projections. Comparable store sales increased 20.5%, better than the 16.8% forecast by analysts surveyed by FactSet. Target also saw digital sales more than double. Its shares rose 1% in the pre-market.
Kohl’s (KSS) – Kohl’s reported quarterly earnings of $ 2.22 per share, including $ 1.15 per share in incremental tax benefits. This compares to a consensus estimate of $ 1.01 per share. Revenue exceeded forecasts, and Kohl’s announced that it would reinstate its share and dividend buyback program this year. He also predicted sales growth for 2021. The retailer’s shares rose 1.6% in the pre-market share.
Nio (NIO) – Nio fell 5.2% in the pre-market after reporting a greater than expected loss in its last quarter. The China-based electric vehicle maker also released a sales forecast for the current quarter that shows slower-than-expected growth.
Kontoor Brands (KTB) – The company behind the clothing brands Lee and Wrangler earned $ 1.23 per share in the last quarter, compared with a consensus estimate of 97 cents per share. Revenue was also above estimates, driven by the strength of digital sales. Kontoor Brands also gave a better-than-expected profit forecast for the entire year. Its shares rose 3.1% in the pre-market.
AutoZone (AZO) – The auto parts retailer reported quarterly earnings of $ 14.93 per share, exceeding the consensus estimate of $ 12.84 per share. Revenue was also above estimates. Comparable store sales increased by 15.2% compared to a consensus estimate by FactSet of up to 8.6%.
In addition to meat (BYND) – The shares of the vegetable food maker rose 1.2% in the pre-market after Citi updated the shares to “buy” from “neutral”. Citi believes that the sales and cost problems that affected the most recent quarter are temporary. Shares had initially fallen on Monday’s trading floor after Beyond Meat announced it planned to raise $ 750 million in a convertible note offering.
Nike (NKE) – Nike North America business chief Ann Hebert has left the shoe and sportswear maker, with Nike saying it will announce a replacement soon. Hebert’s departure follows a report that his son used a credit card in his name to buy sneakers for his resale.
MercadoLibre (MELI) – MercadoLibre fell 2.4% in the pre-market, despite reporting record quarterly revenue and exceeding analysts’ forecasts. The Argentine e-commerce giant has benefited from an increase in online purchases and digital payments in the Latin American market.
Roku (ROKU) – Roku is buying Nielsen’s digital advertising business (NLSN) for an undisclosed amount, allowing it to offer more targeted ads on its streaming platform. Roku gained 1.3% in the pre-market, while Nielsen rose 6.8%.
Lemonade (LMND) – Lemonade lost 60 cents per share in the last quarter, 5 cents less than expected. The online insurer’s revenue was above estimates, however, Lemonade issued a weaker-than-expected outlook for the current quarter. Its shares fell 6% in the pre-market.
Square (SQ) – Square gained 4.4% in the pre-market after announcing that it started operations at its internal bank, Square Financial Services. The digital payments company’s bank will offer commercial loans to Square vendors.
Score Media and Gaming (SCR) – Score Media rose 7.1% in the pre-market after it said that subscribers to its recent initial public offering had fully exercised its over-allotment option. This raises the total money raised by the sports betting company’s IPO to $ 186.3 million.