Shares making the largest strikes forward of the market: Disney, Airbnb, 23andMe, DoorDash, and others
Check out the companies that make the headlines before the doorbell rings:
Walt Disney (DIS) – Walt Disney reported adjusted quarterly earnings of 80 cents per share, well above the consensus estimate of 55 cents, while also beating sales projections. Disney's performance was boosted by a rebound in US theme park attendance and stronger than expected growth for its Disney + streaming service. However, the company warned of uncertainty about the effects of the delta coronavirus variant. Disney shares rose 5.5% before the IPO.
Airbnb (ABNB) – Airbnb lost 11 cents a share in the most recent quarter, less than the 47 cents loss analysts expected. Revenue beat estimates and nearly quadrupled year over year as domestic traffic rebounded from its pandemic lows. However, the company drew attention to the uncertainty surrounding the pandemic and the Delta variant, and Airbnb stock lost 2.8% in early trading.
23andMe (ME) – The genetic research company reported $ 59 million in revenue for the first quarter as a publicly traded company, up 23% year over year while posting a smaller loss. 23andMe's shares rose 2.1% before it was marketed.
DoorDash (DASH) – DoorDash posted a quarterly loss of 30 cents per share, more than Wall Street forecast 20 cents. However, the sales of the food delivery service exceeded estimates, with gross order volume up 70% year over year. DoorDash has also raised its annual forecast for gross order volume. The DoorDash share lost 4.2% before the market.
SoFi (SOFI) – SoFi lost 48 cents per share in the second quarter, compared to analyst forecasts of 6 cents per share. The digital financial services company's revenue beat estimates as its membership more than doubled year over year, but its stock fell 9.6% prior to launch.
Pfizer (PFE), BioNTech (BNTX), Moderna (MRNA) – The FDA has approved Covid-19 vaccine booster vaccinations for immunocompromised people using the Pfizer / BioNTech and Moderna vaccines. Pfizer was up 0.2%, BioNTech was up 2.4% and Moderna was up 2.3%.
Embraer (ERJ) – The Brazilian jet maker posted its first recurring quarterly profit since the first quarter of 2018 as travel demand rebounded from the lowest levels of the pandemic. Before the IPO, the shares rose by 3.6%.
Kansas City Southern (KSU) – Kansas City Southern rejected an upgraded takeover offer from the Canadian Pacific Railway (CP), saying it did not constitute a “superior proposal” to their arrangement with the Canadian National Railway (CNI). The offer from Canadian Pacific is valued at $ 27 billion compared to $ 29 billion for Canadian National, but Canadian Pacific believes its offering has a better chance of regulatory approval.
ZipRecruiter (ZIP) – ZipRecruiter posted a quarterly loss of 55 cents per share, compared to a consensus estimate of 22 cents per share. However, the operator of the online job marketplace posted revenue well above Street's forecasts and was optimistic about the remainder of 2021. ZipRecruiter rose 14.3% in the premarket.
Rocket Companies (RKT) – Rocket shares rose 5.4% before it was launched, despite the online mortgage platform operator missing sales and profit margins. Rocket saw an increase in the volume of completed lending over a year ago and was optimistic about a number of metrics for the current quarter.
ContextLogic (WISH) – The e-commerce platform company's stock plunged 27.8% in the premarket after losing revenue and earnings last quarter. The operator of wish.com said it sees declining demand for its products, fewer users and active buyers, and higher costs.
Activision Blizzard (ATVI) – The video game maker’s stock rose 1.1% in pre-trading hours after Citi upgraded it from “neutral” to “buy” and said the current risk / reward profile following the recent pullback the stock looks cheap.