Stocks that make the biggest moves on the pre-market: Virgin Galactic, Kohl’s, Cisco Systems & more
Check out some of the largest moving companies on the pre-market:
Virgin Galactic (SPCE) – Virgin Galactic shares rose 14.1% in the pre-market after the space company announced that the next test flight of its SpaceShipTwo Unity will take place on May 22nd. Virgin Galactic announced a maintenance check for VMS Eve – the mother ship that will be carried to the SpaceShipTwo unit – had been completed.
Hormel Foods (HRL) – Hormel reported quarterly earnings of 42 cents per share, a penny per share above estimates. The food manufacturer’s earnings were also above the analysts’ forecasts. The company behind brands like Spam, Dinty Moore and Jennie-O said demand across its various channels remains high compared to prepandemic.
BJ’s Wholesale (BJ) – The warehouse retailer reported quarterly earnings of 72 cents per share, 15 cents per share above estimates. Income also exceeded estimates. The retailer’s sales to non-fueled comparable stores were down 5%, but were less than what analysts surveyed by FactSet had forecasted a 8.3% decline. BJ also said the rest of 2021 remains difficult to predict. Their shares fell 3.3% in premarket trading.
Kohls (KSS) – Kohl’s shares fell 3.6% in the pre-market, although the last quarter was both profitable and profitable. Kohl’s earned $ 1.05 per share, compared to a consensus estimate of 4 cents per share. Sales exceeded forecasts and the retailer also raised its outlook.
Petco (WOOF) – Petco gained 1% in pre-market business after reporting quarterly earnings of 17 cents per share, compared to a consensus estimate of 9 cents per share. The pet product retailer’s revenue also surpassed Wall Street projections and raised its outlook for the full year.
Cisco Systems (CSCO) – Cisco beat estimates by one cent per share with quarterly earnings of 83 cents per share. The network equipment maker’s revenue also exceeded Wall Street’s projections. However, Cisco issued a weaker forecast than expected for the current quarter. The company said its profit margins were under pressure from challenges in the supply chain. Cisco’s shares fell 5.6% in premarket trading.
L Brands (LB) – L Brands was 4 cents per share above estimates, with earnings of $ 1.25 per share for the quarter. Income was slightly above consensus. Like-for-like sales in the Victoria’s Secret unit increased 25%, while Bath & Body Works sales in the same store increased 16%. The company is not providing guidance for the full year and is also aiming to complete the split into two separate companies in August. The company’s shares fell 2% before entering the market.
Squarespace (SQSP) – Squarespace remains under observation after the website hosting company’s stocks plummeted on its first day of trading. Squarespace went public via a direct listing, with a reference price of $ 50 and an initial trade of $ 48, but the value was below what it was during a private stock sale earlier this year.
Synopsys (SNPS) – Synopsys stock rose 2.2% in the pre-market after beating estimates for the last quarter. For the manufacturer of semiconductor test and design software, profit has almost doubled compared to the previous year. The company said demand is strong and it is anticipating a new wave of growth.
Schuhkarneval (SCVL) – Shares in Schuhkarneval fell 7.2% in premarket trading after the shoe retailer forecast a year-on-year sales decline in the current quarter. The company did not provide an outlook for the second half of the year as it cited supply chain issues and other potential uncertainties.
Coinbase (COIN) – Coinbase is being monitored after the cryptocurrency exchange operator’s shares have fallen for the last six days in a row, and are now down more than 40% from their original trading on April 14, the day it went public. Wedbush initiated coverage of the stock with an “Outperform” rating, pointing to strong acceptance of the cryptocurrency. Their shares rose 1.7% before entering the market.