CGC, GCI, DKNG and others
Find out which companies are in the headlines before the bell:
Canopy Growth (CGC) – Shares of the Canadian cannabis producer rose 1.9% pre-market after posting unexpected quarterly profit on rising marijuana demand and cost cuts. The gain comes even as income falls below Wall Street’s forecast.
Gannett (GCI) – The USA Today publisher gained 10 cents per share for its most recent quarter, against expectations of a loss of 36 cents per share. Income also exceeded Wall Street forecasts. The company saw the number of digital subscribers jump 41% from the previous year, and the stock was up 6.3% in pre-market.
DraftKings (DKNG) – Shares of the sportsbook company jumped 3.5% pre-market after posting better-than-expected quarterly earnings and earnings and raising its revenue forecast for the full year. DraftKings saw significant gains in a number of key metrics, including a 26% increase in monthly revenue per user.
Novavax (NVAX) – Shares of Novavax fell 11.7% in pre-market trading after drugmaker said it would delay emergency use authorization application for its Covid-19 vaccine until the fourth trimester. Novavax also recorded a larger loss than expected and saw its revenues fall below Wall Street forecasts.
Didi Global (DIDI) – Didi gained 4.1% in pre-market share, following a Bloomberg report that the China-based rideshare company was considering giving up control of its data to help solve an investigation regulatory policy led by the Chinese government.
Zillow Group (ZG) – Zillow reported adjusted quarterly earnings of 44 cents per share, 20 cents above estimate, as the real estate website operator’s earnings were also above estimates. Zillow also gave an optimistic growth forecast, as it expands its home turnaround business, and said it expects this quarter’s sales to exceed $ 2 billion for the first time. Zillow added 1.8% in pre-release.
Virgin Galactic (SPCE) – Virgin Galactic lost 39 cents per share for its last quarter, 6 cents more than expected, although the spaceflight company reported much better than expected earnings. He also announced that he would sell seats for space tourism flights at $ 450,000 and up. The title was up 3.1% in pre-market.
Beyond Meat (BYND) – Beyond Meat slipped 3.7% pre-market after reporting a quarterly loss of 31 cents per share, 7 cents wider than expected. The plant-based meat alternatives maker revenue exceeded Street’s forecast, but it gave a cautious outlook amid “more conservative” orders from its customers amid Covid uncertainty.
Dropbox (DBX) – Shares of Dropbox gained 3.5% in pre-market trading after its adjusted earnings of 40 cents per share surpassed estimates of 7 cents and the cloud storage company’s revenue also increased exceeded forecasts.
Cornerstone OnDemand (CSOD) – Cornerstone has agreed to be acquired by private equity firm Clearlake Capital Group. Clearlake will pay about $ 3.8 billion, or $ 57.50 per share in cash to the cloud computing company. Cornerstone jumped 13.3% in pre-release.
Zynga (ZNGA) – Zynga shares plunged 15.8% in pre-market after the mobile games company gave a disappointing full-year forecast, anticipating a slowdown in games. Zynga also reported adjusted quarterly earnings of 4 cents per share, 5 cents below estimates, with earnings also below estimate.
Carvana (CVNA) – Carvana stock rose 11.3% in pre-market trading after the online used car retailer posted an unexpected profit – its first ever – for its final quarter. The company’s revenue also far exceeded analysts’ forecasts. Auto sales, in general, have seen a boom in demand since the pandemic began last year.
Yelp (YELP) – Yelp gained 5 cents per share for its most recent quarter, compared to consensus forecasts for a loss of 9 cents per share. The operator of the online review site also reported better-than-expected revenue and increased its guidance for the year as ad revenue continues to strengthen. Shares jumped 12.9% pre-market.