Take a look at some of the biggest moving agents in the premarket:
Zoom Video (ZM) – Zoom reported a quarterly profit of $ 1.22 per share, exceeding the consensus estimate of 79 cents per share. Revenues also exceeded forecasts, and Zoom provided an optimistic forecast for the current quarter, expecting millions to continue to use its video messaging platform. Its shares increased by 7.4% premarket.
Novavax (NVAX) – Novavax lost $ 2.70 per share in the last quarter, higher than the loss of $ 1.49 per share that analysts anticipated. The drugmaker’s revenues also came in below Wall Street estimates. Novavax said the Covid-19 vaccine could be phased out for use in the US immediately after May, depending on whether regulators are willing to authorize it based on the results of a British study. Novavax shares fell 5.1% in the premarket.
Target (TGT) – The retailer reported quarterly earnings of $ 2.67 per share, 13 cents per share above estimates. Revenues also exceeded analysts’ forecasts. Sales in comparable stores increased by 20.5%, better than the 16.8% predicted by analysts surveyed by FactSet. Target also recorded more than double digital sales. Its shares increased by 1% in premarket trading.
Kohl’s (KSS) – Kohl’s reported a quarterly profit of $ 2.22 per share, including $ 1.15 per share in incremental tax benefits. That’s compared to a consensus estimate of $ 1.01 per share. Revenue has exceeded expectations, and Kohl’s has announced that it will re-establish its dividend and share repurchase program this year. It also forecast an increase in sales for 2021. The retailer’s shares increased by 1.6% in the premarket share.
Nio (NIO) – Nio fell 5.2% in premarket trading after reporting a higher-than-expected loss in the last quarter. The Chinese electric vehicle maker also issued a sales forecast for the current quarter, which shows slower-than-expected growth.
Kontoor Brands (KTB) – The company behind clothing brands Lee and Wrangler earned $ 1.23 a share in the last quarter, compared to a consensual estimate of 97 cents a share. Revenues also came above estimates, determined by the strength of digital sales. Kontoor Brands also provided a better-than-expected year-over-year earnings forecast. Its shares increased by 3.1% in the premarket.
AutoZone (AZO) – The auto parts distributor reported a quarterly profit of $ 14.93 per share, exceeding the consensus estimate of $ 12.84 per share. Revenues also exceeded estimates. Sales at comparable stores increased by 15.2%, compared to a consensual FactSet estimate of 8.6%.
Beyond Meat (BYND) – The vegetable food manufacturer’s shares rose 1.2% in the premarket after Citi updated the stock to “buy” from “neutral”. Citi believes the sales and cost issues that affected the most recent quarter are temporary. The stock initially fell outside of business hours on Monday, after Beyond Meat said it intended to raise $ 750 million in a convertible banknote offer.
Nike (NKE) – Nike’s head of business in North America, Ann Hebert, has left the shoe and sportswear manufacturer, with Nike saying it will announce the replacement soon. Hebert’s departure follows a report that her son used a credit card in her name to buy sneakers for his resale company.
MercadoLibre (MELI) – MercadoLibre was down 2.4% premarket, despite reporting record quarterly revenue and exceeding analysts’ forecasts. The Argentine e-commerce giant has benefited from an increase in online shopping and digital payments in the Latin American market.
Roku (ROKU) – Roku buys digital advertising company Nielsen (NLSN) for an undisclosed amount, allowing it to offer more targeted ads on its streaming platform. Roku gained 1.3% premarket, while Nielsen gained 6.8%.
Lemonade (LMND) – Lemonade lost 60 cents a share in the last quarter, 5 cents a share less than expected. The online insurance company’s revenue exceeded estimates, but Lemonade gave a weaker-than-expected outlook for the current quarter. Its shares fell 6% in the premarket.
Square (SQ) – Square gained 4.4% in premarket trading after announcing that it has begun operations for its internal bank, Square Financial Services. The bank of the digital payment company will offer commercial loans to Square sellers.
Score Media and Gaming (SCR) – Score Media rose 7.1% premarket after stating that subscribers to its recent initial public offering have fully exercised their over-allocation option. This brings the total amount raised by the sports betting company’s IPO to $ 186.3 million.