Chevron, Verizon, Vir Biotechnology and more –

Chevron, Verizon, Vir Biotechnology and more

Take a look at some of the major engines on the premarket:

Hilton Worldwide (HLT) – The hotel operator reported a quarterly loss of 10 cents a share, surprising analysts who were expecting a profit of 4 cents a share. Revenues were also below estimates. The loss came as Covid-19 related outages led to a 59.2% drop in comparable revenue per available room compared to a year ago. Hilton shares were down 2.3% in premarket trading.

Garmin (GRMN): The maker of navigation and fitness devices beat estimates by 44 cents a share, earning $ 1.73 a share for the quarter. Revenues also beat analysts’ forecasts. Garmin experienced strong growth in most of its segments, led by marine and overseas. Its shares are 1.9% higher in the premarket.

Vir Biotechnology (VIR) – Vir’s stock rose 14.4% in pre-market trading following an announcement that its Covid-19 antibody partnership with GlaxoSmithKline (GSK) will be expanded to investigate therapies for other diseases.

Shopify (SHOP) – Shopify earned $ 1.58 per share during the fourth quarter, beating the consensus estimate of $ 1.26 per share. Revenues also exceeded forecasts. Shopify benefited as more merchants adopted its ecommerce tools to sell their products and services online. The shares were up 1% in pre-market stock.

Chevron (CVS), Verizon (VZ) – Warren Buffett’s Berkshire Hathaway bought a $ 4.1 billion stake in Chevron and $ 8.6 billion in Verizon stock during the fourth quarter, according to latest 13-F filing from Berkshire. Berkshire also sold its stakes in pharmaceuticals Pfizer (PFE) and JPMorgan Chase (JPM) while cutting its stakes in Wells Fargo (WFC). Chevron is gaining 3.8% on the previous market, while Verizon is up 3.6%.

Slack (WORK), (CRM) – The Department of Justice’s antitrust division asked Slack and Salesforce to provide more information related to Salesforce’s $ 27.7 billion purchase of Slack. The deal is still expected to close on July 31. Shares of Slack fell 2.4% in premarket trading.

Tribune Publishing (TPCO) – Tribune will be private by hedge fund Alden Global for $ 17.25 per share in cash. Alden already had a 32% editorial stake in the Chicago Tribune, New York Daily News and Baltimore Sun newspapers. Shares of Tribune are up 6.5% in premarket shares.

Morningstar (MORN) – Morningstar was sued by the Securities and Exchange Commission for allegedly violating securities laws in its ratings of commercial mortgage-backed securities. The financial information provider said it had complied with all regulations and stopped using the method in question in 2018. Morningstar shares fell 1% in pre-market trading.

Treehouse Foods (THS) – Jana Partners increased her stake in Treehouse to 7.3% and is pressuring the packaged food company to explore options, including a possible sale. In her 13-F quarterly filing, Jana also revealed a new stake in medical laboratory operator LabCorp (LH).

La-Z-Boy (LZB) – La-Z-Boy shares fell 5.2% in the previous market after the furniture maker announced that CEO Kurt Darrow would step down on April 25 to be replaced. by Chief Financial Officer Melinda Whittington. The furniture retailer also reported a drop in quarterly earnings due to higher costs due to Covid-19-related supply chain disruptions.

Cedar Fair (FUN) – Cedar Fair reported a fourth-quarter loss of $ 105.5 million compared to a gain of $ 2.78 billion a year earlier, as the pandemic continued to affect attendance at the amusement park operator’s properties . Cedar Fair fell 1.6% in premarket stock.

SolarEdge Technologies (SEDG) – The solar power equipment maker beat estimates by 11 cents a share, with quarterly earnings of 98 cents a share. Revenues were also above estimates. It also projects better-than-expected sales for the current quarter, driven in part by a strong residential market in the United States. SolarEdge shares were up 3.2% in the previous market.

QuantumScape (QS): QuantumScape’s shares rose 6.2% in premarket trading, despite the electric vehicle battery maker reporting a loss on its first quarterly launch as a public company. Investors are encouraged by QuantumScape’s progress in the development of multilayer battery cells.


Source link