Stocks making the biggest moves in the premarket: Canada Goose, eBay, PayPal, Qualcomm & more
Take a look at some of the biggest movers in the premarket:
Canada Goose (GOOS) – Canada Goose shares surged more than 15% in the premarket after the outerwear maker beat estimates on both the top and bottom lines. Results were helped by strong growth in China sales as well as a surge in online buying.
EBay (EBAY) – EBay shares jumped 10% in premarket trading, following an earnings beat and strong guidance. The online marketplace operator beat estimates by 3 cents a share, with quarterly earnings of 86 cents per share. Revenue came in above estimates as well and EBay increased its quarterly dividend by 13% and added $4 billion to its stock buyback program.
PayPal (PYPL) – PayPal reported quarterly earnings of $1.08 per share, 8 cents a share above consensus. The digital payment service's revenue also topped Wall Street forecasts. The pandemic-induced growth in online shopping helped drive record payment volume for both the quarter and the full year. Its shares rose nearly 6% in premarket trading.
Becton Dickinson (BDX) – The medical products maker earned $4.55 per share for its latest quarter, well above the consensus estimate of $3.11 a share. Revenue beat estimates as well, boosted by strong demand for its Covid-19 tests. The company also raised its full-year forecast. The company's shares rose 2.7% in premarket trading as of 7:36 a.m. ET.
Clorox (CLX) – The household products maker reported quarterly earnings of $2.03 per share, 25 cents a share above estimates. Revenue also came in above analysts' forecasts and Clorox raised its full-year revenue forecast on continued elevated sales of cleaning and disinfectant products.
Merck (MRK) – Chief Executive Officer Kenneth Frazier will step down on June 30, replaced by CFO Robert Davis with Frazier moving to the role of Executive Chairman. Separately, Merck reported quarterly earnings of $1.32 per share, 6 cents a share shy of estimates. Revenue came in shy of forecasts, however, Merck issued an upbeat sales and revenue forecast.
Costco (COST) – The warehouse retailer reported a 15.9% jump in January comparable sales, beating the consensus StreetAccount estimate of 11.7%. E-commerce sales more than doubled from a year earlier.
Tapestry (TPR) – The company behind the Coach and Kate Spade luxury brands earned $1.15 per share for its latest quarter, 14 cents a share above estimates. Sales were slightly above forecasts. Tapestry also forecast stronger-than-expected revenue growth. Its shares rose 2.4% in premarket trading.
VG Acquisition (VGAC) – Genetics company 23andMe will go public through a merger with VG Acquisition, the special purpose acquisition company controlled by Richard Branson's Virgin Group. The transaction values 23andMe at about $3.5 billion, and it is expected to be completed sometime during the second quarter. VG Acquisition's shares jumped 13% in the premarket.
UnitedHealth (UNH) – David Wichmann has stepped down as the health insurer's CEO, to be replaced by Sir Andrew Witty. Witty has been CEO of the company's Optum unit.
Apple (AAPL) – Apple is near a deal with Hyundai for the automaker to produce an Apple-branded self-driving electric vehicle, according to sources who spoke to CNBC. The vehicle would be produced at Hyundai's Kia plant located in Georgia. Apple shares rose 1.8% in the premarket.
Qualcomm (QCOM) – Qualcomm came in 7 cents ahead of estimates, with quarterly earnings of $2.17 per share. The chip maker's revenue beat estimates as well, however its shares fell more than 6% in the premarket after Qualcomm said that chip supply constraints will hold back sales growth during the first half of 2021.
GrubHub (GRUB) – GrubHub lost 41 cents per share for its latest quarter, wider than the 5 cents a share profit that analysts had predicted for the food delivery company. Revenue missed estimates as well, hurt by increased costs for marketing as well as promotional support for restaurants. Its shares slipped 2.5% in the premarket.
Align Technology (ALGN) – Align Technology earned $2.61 per share for the fourth quarter, beating the $2.14 a share consensus estimate. Revenue beat forecasts as well. The maker of the Invisalign dental brace system saw fourth-quarter sales jump 28% from a year earlier. Its shares surged more than 10% in premarket trading.
Alibaba (BABA) – The China-based e-commerce company set initial prices for a planned $5 billion U.S. debt offering. According to a term sheet seen by Reuters, 10-year debt will be priced at 130 basis points over the 10-year Treasury note, and 20-year debt will be priced at 140 basis points over the 20-year Treasury bond. Alibaba shares rose 2.5% in the premarket.
e.l.f. Beauty (ELF) – e.l.f. Beauty missed estimates by 2 cents a share, with quarterly earnings of 22 cents per share. The discount cosmetics seller's revenue beat forecasts. The bottom line took a hit from increased selling and administrative expenses. Its shares slid 1.9% in premarket trading.