Take a look at some of the major engines on the premarket:
IMAX (IMAX) – IMAX lost 21 cents a share, one penny a share more than analysts had anticipated. The cinema operator’s revenue exceeded Wall Street estimates. Sales were helped by stronger performance in Asian markets, and the company anticipates better results as consumers return to theaters this year. IMAX shares lost 3.7% in premarket trading.
CoreLogic (CLGX) – CoStar Group (CSGP) dropped its bid to buy CoreLogic, and the commercial property data provider said rising interest rates will affect CoreLogic’s value. CoStar’s last offering had been worth $ 6.6 billion or $ 90 per share, compared to a higher previous offering of $ 6.9 billion or $ 95.76 per share. CoreLogic, a real estate data provider that competes with Zillow (Z), accepted an offer to buy last month from private equity firms Stone Capital and Insight Partners for $ 6 billion or $ 80 per share. CoStar was up 5.5% in pre-market operations, while CoreLogic fell 3.4%.
Big Lots (BIG): The discount retailer reported quarterly earnings of $ 2.59 per share, 9 cents a share above estimates. However, revenue was in line with forecast and a comparable sales increase of 7.9% was below FactSet’s consensus estimate of 8.4%. Big Lots said it expected its results this year to be significantly affected by the pandemic. The shares were up 1.3% in premarket trading.
Costco (COST) – Costco reported quarterly earnings of $ 2.14 per share, below the consensus estimate of $ 2.45 per share. Revenue from the warehouse retailer exceeded forecasts. Costco’s comparable sales increased 13%, while its digital sales increased 76%. The company also experienced supply chain problems that resulted in higher costs. Costco shares fell 1.9% in premarket trading.
Norwegian Cruise Line (NCLH) – The cruise line operator’s shares fell 7% in premarket trading after it announced a public offering of 47.58 million shares. Norwegian plans to use the proceeds to pay off redeemable debt held by private equity firm L Catterton.
Gap (GPS): The parent company of Gap, Old Navy and Banana Republic forecasts a rebound in clothing sales this year, as the Covid-19 pandemic recedes and people return to offices and schools. Sales in its most recent quarter were below Wall Street forecasts, although an increase in online sales helped offset a pandemic-related decrease in store traffic. The shares were up 3.2% in pre-trade stock.
Broadcom (AVGO): The chipmaker beat estimates by 6 cents a share, with quarterly earnings of $ 6.61 a share. The company’s revenue was slightly above estimates. However, the shares fell 1% in the previous market, as semiconductor sales fell short of analysts’ forecasts. The company and its peers continue to be affected by a shortage of materials used to make chips.
Virgin Galactic (SPCE) – Space company president Chamath Palihapitya sold his personal holdings of 6.2 million shares for about $ 213 million, according to a Securities and Exchange Commission file. He still owns 15.8 million shares with investment partner Ian Osborne. Its shares fell 3.1% in the premarket.
Trade Desk (TTD) – The Trade Desk is on call once again after losing 20% in value for the past two days. The programmatic ad technology provider was hit after Alphabet’s Google (GOOGL) said it would not use ad tracking technology to follow individuals individually across the internet. The stock lost another 1.4% in the premarket.
Western Digital (WDC) – Western Digital shares rose 2.5% in pre-market share after disk drive and memory chip maker 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 line, according to reports from Bloomberg and Reuters. Boeing had told analysts in January that the company had sufficient liquidity, but was open to taking on more debt as it considers options to strengthen its balance sheet.
Van Eck vectors Social Sentiment ETF (BUZZ): The new exchange-traded fund is on guard today again after falling 3.6% on its Wall Street debut on Thursday. The ETF is designed to receive the attention of investors on Reddit, Twitter (TWTR), and other social media platforms.
Fifth Third Bancorp (FITB) – Bank added to Goldman Sachs’ “Conviction Buy” list, which anticipates significant improvement in Fifth Third’s net interest income based on current trends in long and short-term rates . Fifth Third was up 1.2% in premarket shares.