Take a look at some of the biggest movers in the premarket:
Nike (NKE) – Nike reported quarterly earnings of 93 cents per share, well above the consensus estimate of 51 cents per share. Revenue far exceeded forecasts, topping $ 12 billion for the first time. Nike benefited from the backlog in footwear and apparel, seeing a 73% increase in direct sales through its apps and websites. The Nike share rose 12.5% in the pre-market period.
CarMax (KMX) – CarMax shares rose 5.9% in pre-market trading after the car dealer reported better-than-expected sales and profits for its last quarter. CarMax beat consensus estimate by $ 1 per share with quarterly earnings of $ 2.63, aided by a pandemic-induced preference for cars over public transportation.
Virgin Galactic (SPCE) – Virgin shares rose 11.5% in the premarket after the Federal Aviation Administration granted Virgin permission to fly paying customers into space. It is the first such approval from the FAA and follows a successful test flight by Virgin Galactic in May.
FedEx (FDX) – FedEx beat estimates by 2 cents per share with quarterly earnings of $ 5.01 per share. The sales of the delivery service also exceeded the forecasts. CEO Fred Smith said operations will be constrained by the inability to find enough workers and the company will increase capital expenditures by 22% this year to deal with delivery delays. In the pre-market trading, the share lost 3.9%.
Tesla (TSLA) – According to a Panasonic spokesman, Japanese electronics giant Panasonic sold its entire stake in Tesla for around $ 3.6 billion last fiscal year. Panasonic was an early investor in Tesla and is a major battery supplier for the automaker.
Netflix (NFLX) – Netflix rose 1.3% in the premarket after Credit Suisse was upgraded from “neutral” to “outperform”. The bank said it expected subscriber growth to normalize and its latest consumer survey had strengthened Netflix's strong competitive position.
BlackBerry (BB) – BlackBerry shares rose 1.3% in early trading after posting a smaller-than-expected loss in the most recent quarter. The security and communications software maker also posted better-than-expected sales as a surge in electric vehicle sales fueled demand for BlackBerry's QNX software.
JPMorgan Chase (JPM), Wells Fargo (WFC), Bank of America (BAC), Citigroup (C). Stress tests. Following these results, the Fed announced that it would lift temporary restrictions on dividends and share buybacks.
Twilio (TWLO), Asana (ASAN) – Twilio and Asana have agreed to list their shares on the Long-Term Stock Exchange, a Silicon Valley-based company focused on long-term investing. They will continue to be listed on the New York Stock Exchange. The two cloud software companies were early investors in the Long-Term Exchange. Asana was up 3.3% in pre-hours trading.
Credit Suisse (CS) – Credit Suisse is considering various overhaul plans, including a possible merger with competitor European bank UBS (UBS), according to people familiar with the bank's mindset who spoke to Reuters. Credit Suisse gained 1.2% before the IPO.
Doximity (DOCS) – The doctor social network saw its premarket decline 3.9% after going public at $ 26 per share and closing its first day of trading at $ 53.