Check out some of the biggest movers in the premarket:
Nike (NKE) – Nike achieved 14 cents per share above estimates, with a quarterly profit of 90 cents per share. However, sales of the athletic footwear and apparel company were below analyst expectations and the outlook for full-year sales also lagged estimates. Nike said sales in North America were hit by port-related issues, delaying shipments by up to three weeks. Nike shares fell 3.2% in premarket trading.
FedEx (FDX) – FedEx reported quarterly earnings of $ 3.47 per share, surpassing the consensus estimate of $ 3.23 per share. Sales were also higher than expected. FedEx average revenue per package for its Ground service was up 11% as it continues to benefit from the pandemic-related rise in e-commerce orders. Its shares are up 4% in premarket action.
Skillz (SKLZ) – Skillz plunged 7% in premarket action after the mobile gaming company announced a public offering of 32 million shares. The offering cost $ 24 per share, with Skillz selling 17 million shares and certain shareholders the rest. Skillz said it would use the proceeds for general corporate purposes.
AstraZeneca (AZN) – AstraZeneca’s Covid-19 vaccine received support from Canadian regulator Health Canada, which joined European countries and said the vaccine is not linked to an increase in blood clots. Countries that had temporarily stopped using the vaccine have now started giving injections again.
Hartford Financial (HIG) – The financial services firm said it is “carefully considering” a takeover proposal from insurance company Chubb (CB) for $ 65 a share or more than $ 23 billion. Hartford shares were up 18.7% on Thursday after news of the offer, although it is returning about 1.4% in premarket trading.
Ollie’s Bargain Outlet (OLLI) – Ollie’s beat is estimated at 14 cents a share, with a quarterly profit of 97 cents a share. The discount store’s sales were also above Wall Street forecasts. Comparable store sales were up 8.8%, surpassing FactSet’s consensus forecast of 3.2%. Shares of Ollie gained 4.6% in premarket trading.
Enphase (ENPH), SolarEdge Technologies (SEDG) – Susquehanna Financial has upgraded both alternative energy supplies to “positive” from “neutral,” based on an anticipated solar expansion in the coming years and the strength of the two companies in the residential sector . Enphase was up 3.3% in the premarket, while SolarEdge gained 2.1%.
Ford Motor (F) – Ford stock is up 2.5% in premarket trading after Barclays upgraded the stock to “overweight” of “equal weight” and raised the stock price target from $ 9 to $ 16 per share . Barclays is being encouraged, among other things, by the development of Ford’s electric vehicle strategy.
Coherent (COHR) – The laser technology company remains vigilant as it considers competing takeover bids from Lumentum (LITE) and II-VI (IIVI). Coherent first struck a deal to be acquired by Lumentum in January, but has since received eight subsequent bids and revised bids.
Molson Coors (TAP) – The brewer’s stock fell 2.3% in premarket action after Deutsche Bank added it to its “short-term selling catalyst” list. Deutsche Bank said the call is based on short-term issues, including a material impact on its first quarter results from unfavorable February weather in Texas.
Petco Health (WOOF) – The pet store was upgraded to “buy” from “neutral” at Bank of America Securities, saying Petco’s fourth quarter and 2021 results were above expectations. The stock rose 2.8% in premarket trading, after a 3.8% loss in Thursday trading.
Hims & Hers Health (HIMS) – Hims & Hers Health shares fell 3.3% in the premarket after the telehealth company reported a net quarterly loss of $ 3.1 million, although that was less than the loss of $ 12.4 million reported a year earlier. However, sales were higher than expected and total sales increased by 80% in 2020.
Sarepta Therapeutics (SRPT) – The drug manufacturer’s share of premarket trading rose 5.4% after reporting positive results in an experimental muscular dystrophy treatment trial.