Take a look at some of the biggest moving agents in the premarket:
Stitch Fix (SFIX) – Stitch Fix lost 20 cents a share in the last quarter, 2 cents a share less than analysts had anticipated. Revenue for the online clothing stylist was lower than forecast on Wall Street, and Stitch Fix reduced its recommendations for the fiscal year beginning in July due to extended cycle periods. Stitch Fix does not recognize revenue until a customer completes a “Fix” by returning unwanted items and paying for retained items. Stitch Fix shares fell 24% from the premarket.
Dick’s Sporting Goods (DKS) – The sporting goods retailer reported quarterly earnings of $ 2.43 per share, 15 cents per share above estimates. Revenue also exceeded Wall Street forecasts. Sales at comparable stores increased by 19.3%, compared to a consensual FactSet estimate of 17.1%. Dick also forecast a year-over-year profit of $ 4.40 – $ 5.20 per share, compared to a consensual final estimate of $ 5.15 per share. In addition, Dick announced a 16% quarterly increase in dividends. The stock decreased by 7.2% premarket.
Thor Industries (THO) – The recreational vehicle manufacturer reported quarterly earnings of $ 2.38 per share, well above the consensus estimate of $ 1.55 per share. Revenues also exceeded forecasts. Thor warned that supply chain problems could have a negative impact in the short term, but the company is cautiously optimistic that these problems will diminish in the second half of the year.
Children’s Place (PLCE) – The children’s clothing retailer reported a quarterly profit of $ 1.01 per share, compared to a consensual estimate of a loss of 23 cents per share. Revenue also exceeds expectations, and a comparable increase in in-store sales of 1% compares to a consensus FactSet estimate of a slide of 10.7%.
Baidu (BIDU) – The shares of the search engine giant in China rose 6.4% premarket after the news that it had obtained the approval of the Hong Kong Stock Exchange to list its shares.
Discovery Communications (DISCA) – Discovery shares rose 3.9% in the premarket, potentially extending a seven-day winning streak that saw the media’s shares gain 31% in the meantime. It is among the sharply shortened shares that have gained strong gains recently.
Peloton (PTON) – Peloton is expanding into the Asia-Pacific region for the first time, announcing plans to sell its fitness bikes and interactive membership app in Australia starting in the second half of the year. Peloton’s share gained 4.7% in the premarket share.
Li Auto (LI), Nio (NIO), Xpeng (XPEV) – Chinese electric vehicle manufacturers plan to register in Hong Kong as soon as this year, according to people with direct knowledge on the subject, who spoke to Reuters. All three are already listed on US stock exchanges, with Hong Kong listings totaling $ 5 billion. Li Auto gained 4.3% in the premarket, Nio gained 4.3%, and Xpeng gained 5.9%.
Zoom (ZM) – Zoom CEO and founder Eric Yuan has transferred about 40 percent of his shares to the video communications platform company, according to a document from the Securities and Exchange Commission. The transfers – worth about $ 6 billion – were made to unspecified recipients from two gift trusts, with Zoom saying only that the transactions were part of the real estate planning process for Yuan and his wife. Zoom increased 3.6% in premarket trading.
MoneyGram International (MGI) – Blockchain Ripple and MoneyGram have partnered for unspecified reasons. Ripple had bought a $ 30 million share in the payment service company in 2019, the partnership lasting two years. Ripple CEO Brad Garlinghouse said the companies are committed to reviewing the partnership in the future. MoneyGram fell 9.1% in the premarket.
Tesla (TSLA) – Tesla rose 5% in the premarket after declining for five consecutive sessions and losing 21% during this period. This is the third notable sale of Tesla shares in the last year, with shares falling 20% - more than the recent highs in both March and September 2020.
FirstEnergy (FE) – Activist investor Carl Icahn is in talks with the utility company about the possibility of occupying two seats on the board, according to people familiar with the matter who spoke with Bloomberg. Icahn is said to have built a “considerable” stake in FirstEnergy and wants to help the company put a federal corruption scandal and other problems behind it.
Del Taco (TACO) – Del Taco reported quarterly earnings of 20 cents per share, exceeding the consensus by 6 cents per share. The restaurant chain’s revenues came slightly above Wall Street forecasts. Comparable restaurant sales increased 3.8% in the same quarter. Del Taco shares added 3.2% to the premarket share.