Toplines Before US Market Open on Wednesday

Tiger Newspress2021-05-05

U.S. stock futures rebounded on Wednesday following a session defined by major weakness in technology stocks.

At 8:05 a.m. ET, Dow E-minis were up 77 points, or 0.23%, S&P 500 E-minis were up 15.25 points, or 0.37% and Nasdaq 100 E-minis were up 81.25 points, or 0.6%.

*Source From Tiger Trade, EST 08:05

Stocks making the biggest moves in the premarket:

General Motors(GM) – The automakerearned $2.25 per sharefor the first quarter, compared to a consensus estimate of $1.04 a share, though revenue was very slightly below forecasts. GM said its results were helped by strong auto pricing as well as solid credit performance at GM Financial. GM shares rose 3.5% in premarket trading.

Lyft(LYFT) – Lyftlost 35 cents per shareduring the first quarter, but the ride-hailing company’s loss was smaller than the 53 cents a share that analysts were anticipating. Revenue exceeded forecasts, as did the number of active riders during the quarter. Its shares rallied 5.7% in premarket trading.

Match Group(MTCH) – Match Group jumped 6.2% in the premarket after it beat estimates by 17 cents a share, with first-quarter earnings of 57 cents per share. The operator of Tinder and other dating services also reported revenue above analysts’ forecasts and Match Group gave strong current-quarter guidance as it anticipates a surge in dating demand as the pandemic recedes.

Hilton Worldwide(HLT) – The hotel operator reported net earnings of 2 cents per share for the first quarter, missing the consensus estimate of 8 cents a share. Revenue also came in below analysts’ projections. Hilton continued to be hit by pandemic-related travel restrictions, although it said 97% of its hotels were opened by the end of April. Its shares fell 2.7% in premarket trading.

Scotts Miracle-Gro(SMG) – The maker of lawn and garden products saw its shares gain 3.5% in the premarket after beating estimates on the top and bottom lines for its latest quarter. Scotts continues to benefit from a surge in consumer demand as homeowners continued to focus on home projects amid the pandemic.

Tupperware(TUP) – The maker of storage products surged 7.2% in premarket action after a top and bottom line beat. Tupperware earned 82 cents a share for its latest quarter, well above the consensus estimate of 54 cents a share. Revenue was above estimates as well.

ODP(ODP) – The stock jumped 4.7% in premarket action after the parent of Office Depot announced it wouldsplit into two separate publicly traded companies. Office Depot and OfficeMax locations will be operated by ODP, while the yet-unnamed new company will contain ODP’s business-to-business operations. Current shareholders will own 100% of the new company.

Activision Blizzard(ATVI) – Activision beat estimates by 14 cents a share, with quarterly earnings of 84 cents per share. The video game maker’s revenue also exceeded Wall Street forecasts and the company raised its full-year forecast as demand remains elevated for games like “Call of Duty” and “Candy Crush.” Its shares gained 4.5% in the premarket.

T-Mobile US(TMUS) – T-Mobile was up 3.3% in premarket trading after it came in 17 cents a share above consensus by earning 74 cents per share for its latest quarter. Revenue also topped estimates, and the mobile service provider added a larger-than-expected number of paying subscribers during the quarter.

Caesars Entertainment(CZR) – Caesars shares surged 6.7% in premarket action. The casino operator reported a smaller-than-expected loss for the first quarter, while its revenue was above estimates. Caesars said results continue to improve significantly as the pace of Covid-19 vaccinations accelerates.

Zillow(ZG) – Zillow reported quarterly earnings of 44 cents per share, compared to a consensus estimate of 25 cents a share. The real estate website operator’s revenue also came in above estimates, and traffic to its websites and apps rose 19% compared to a year ago. Zillow shares climbed 2.6% in the premarket.

Herbalife Nutrition(HLF) – Herbalife reported better-than-expected sales and profit for the first quarter, and raised its full-year guidance. The health and wellness products maker saw particularly strong growth in its sports nutrition category. The stock added 4.7% in the premarket.

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