Stitch Fix, Dick’s Sporting Goods, Peloton & more
Check out some of the largest moving companies on the pre-market:
Stitch Fix (SFIX) – Stitch Fix lost 20 cents per share in the last quarter, 2 cents per share less than analysts expected. Online apparel styler revenue fell short of Wall Street forecasts, and Stitch Fix lowered its forecast for the fiscal year beginning July due to extended cycle times. Stitch Fix does not collect revenue until a customer completes a “fix” by returning unwanted items and paying for items on hold. Stitch Fix stocks fell 24% ahead of the market.
Dick’s Sporting Goods (DKS) – The sporting goods retailer reported quarterly earnings of $ 2.43 per share, 15 cents per share above estimates. The revenue also exceeded Wall Street forecasts. Like-for-like store sales increased 19.3% compared to a FactSet consensus estimate of 17.1%. Dick’s also forecast annual earnings of $ 4.40 to $ 5.20 per share, compared to a refinitive consensus estimate of $ 5.15 per share. In addition, Dick’s announced a quarterly dividend increase of 16%. The stock fell 7.2% prior to going public.
Thor Industries (THO) – The recreational vehicle maker reported quarterly earnings of $ 2.38 per share, well above its consensus estimate of $ 1.55 per share. Income also exceeded forecasts. Thor warned that supply chain issues could have a negative impact in the short term, but the company is cautiously optimistic that those issues will subside in the second half of the year.
Children’s Place (PLCE) – The children’s clothing retailer reported quarterly earnings of $ 1.01 per share, compared to a consensus estimate of 23 cents per share. Revenue also beat forecast, and a 1% increase in revenue in like-for-like stores translates into a FactSet consensus estimate of 10.7%.
Baidu (BIDU) – The shares of the China-based search engine giant rose 6.4% before entering the market after it was announced it had received approval from the Hong Kong Stock Exchange to list its shares.
Discovery Communications (DISCA) – Discovery shares rose 3.9% pre-market, potentially extending a seven-day winning streak in which the media company’s shares rose 31% over the period. These are sharply shortened stocks that have seen strong gains recently.
Peloton (PTON) – Peloton is expanding into the Asia-Pacific region for the first time and announces plans to sell its fitness bike and interactive membership app in Australia in the second half of the year. The peloton share increased by 4.7% in the pre-market.
Li Auto (LI), Nio (NIO), Xpeng (XPEV) – China-based manufacturers of electric vehicles are planning a listing in Hong Kong this year, according to people with direct knowledge who spoke to Reuters. All three are already listed on US stock exchanges, with Hong Kong listings bringing in a total of $ 5 billion. Li Auto rose by 4.3% in the pre-market, Nio by 4.3% and Xpeng by 5.9%.
Zoom (ZM) – Zoom CEO and founder Eric Yuan has transferred around 40% of his stake in the video communications platform company, according to a report from the Securities and Exchange Commission. The transfers, valued at around $ 6 billion, were gifted to unspecified recipients by two trusts. Zoom only stated that the transactions were part of the estate planning process for Yuan and his wife. Zoom rose 3.6% in premarket retail.
MoneyGram International (MGI) – Blockchain companies Ripple and MoneyGram have ended their partnership for unspecified reasons. Ripple bought a $ 30 million stake in the payment service provider in 2019. The partnership should last two years. Brad Garlinghouse, CEO of Ripple, said the companies are determined to re-examine the partnership in the future. MoneyGram fell 9.1% in the pre-market.
Tesla (TSLA) – Tesla rose 5% in pre-market after losing five sessions in a row and losing 21% over that period. It’s the third notable sell-off of Tesla stock in the past year. The stock was down more than 20% from its most recent highs in March and September 2020.
FirstEnergy (FE) – Activist investor Carl Icahn is in talks with the utility company over the possible takeover of two seats on the board, according to people familiar with the matter who spoke to Bloomberg. Icahn is said to have built a “substantial” stake in FirstEnergy and aims to help the company move past a federal corruption scandal and other problems.
Del Taco (TACO) – Del Taco reported quarterly earnings of 20 cents per share, beating consensus by 6 cents per share. The restaurant chain’s revenue was slightly above Wall Street’s forecasts. Similar restaurant sales increased 3.8% for the quarter. Del Taco shares rose 3.2% prior to going public.