Take a look at some of the biggest moving agents in the premarket:
IMAX (IMAX) – IMAX lost 21 cents a share, one cent more than analysts had anticipated. The cinema operator’s income exceeded Wall Street estimates. Sales have been helped by stronger performance in Asian markets, and the company anticipates improved results as consumers return to theaters this year. IMAX shares lost 3.7% in premarket trading.
CoreLogic (CLGX) – CoStar Group (CSGP) has dropped its CoreLogic takeover bid, with the commercial property data provider saying rising interest rates will affect CoreLogic’s value. CoStar’s most recent bid was worth $ 6.6 billion or $ 90 per share, compared to a previous offer of more than $ 6.9 billion or $ 95.76 per share. CoreLogic – a real estate data provider that competes with Zillow (Z) – last month accepted a takeover bid from private equity firm Stone Capital and Insight Partners for $ 6 billion or $ 80 a share. CoStar was up 5.5% in premarket trading, while CoreLogic was down 3.4%.
Big Lots (BIG) – The discount retailer reported a quarterly profit of $ 2.59 per share, 9 cents per share above estimates. However, revenues matched forecasts and a comparable sales growth of 7.9% was shy of the FactSet consensus estimate of 8.4%. Big Lots said it expects this year’s results to be significantly affected by the pandemic. Shares rose 1.3% in premarket trading.
Costco (COST) – Costco reported quarterly earnings of $ 2.14 per share, which do not exceed the consensus estimate of $ 2.45 per share. The retailer’s revenue exceeded expectations. Costco’s comparable sales rose 13%, while its digital sales rose 76%. The company also encountered supply chain problems, resulting in higher costs. Costco shares fell 1.9% in premarket trading.
Norwegian Cruise Line (NCLH) – Shares of the cruise line operator fell 7% in premarket trading after announcing a public offering of 47.58 million shares. The Norwegian intends to use the proceeds to withdraw the exchangeable debts held by the private equity firm L Catterton.
Gap (GPS) – Father Gap, the Old Navy and the Banana Republic predict a return to clothing sales this year as the Covid-19 pandemic recedes and people return to offices and schools. Sales in the most recent quarter came below Wall Street forecasts, although an increase in online sales helped offset a pandemic-related drop in in-store traffic. Shares increased by 3.2% in premarket stock.
Broadcom (AVGO) – The chip maker exceeded estimates by 6 cents per share, with quarterly earnings of $ 6.61 per share. The company’s revenue was slightly above estimates. However, shares fell 1% in the premarket, as semiconductor sales were below analysts’ forecasts. The company and its colleagues continue to be affected by the lack of materials used in the manufacture of chips.
Virgin Galactic (SPCE) – The president of the space company, Chamath Palihapitya, sold his personal shares of 6.2 million shares for about $ 213 million, according to a document of the Securities and Exchange Commission. He still owns 15.8 million shares with investment partner Ian Osborne. Its shares fell 3.1% in the premarket.
Commercial Office (TTD) – The commercial office is on the alert again after losing 20% of its value in the last two days. The provider of programmatic advertising technology was hit after Google Alphabet (GOOGL) said it would not use ad tracking technology to track people individually on the Internet. The stock lost another 1.4% in the premarket.
Western Digital (WDC) – Western Digital shares rose 2.5% in premarket stock after the hard drive and memory chip maker were upgraded to “buy” from “neutral” at Goldman Sachs. Goldman cited an improved outlook for memory chip prices, among other factors.
Boeing (BA) – The jet maker has approached a group of banks seeking a new $ 4 billion credit facility, according to Bloomberg and Reuters reports. Boeing told analysts in January that the company has sufficient liquidity, but is open to increasing more debt as it considers options to consolidate its balance sheet.
Van Eck Vectors Social Sentiment ETF (BUZZ) – The new exchange traded fund is on watch again today, after falling 3.6% in its Wall Street debut on Thursday. The ETF is designed to focus on actions that receive investor attention on Reddit, Twitter (TWTR) and other social platforms.
Fifth Third Bancorp (FITB) – The Bank has been added to Goldman Sachs’ Buy Condemnation List, which provides for a significant improvement in net interest income for Fifth Third, based on current trends in both long-term and short. The fifth third increased by 1.2% in premarket stock.