Stocks in focus in premarket trade on Friday, May 14th. 2021
- Disney (NYSE:DIS) stock fell 4.1% as disappointing growth at the entertainment giant’s streaming service overshadowed better-than-expected overall profits. A total of 103.6 million customers subscribed to Disney+ as of early April, below the 109.3 million projected, according to FactSet.
- Airbnb (NASDAQ:ABNB) stock fell 0.6% after the online lodging service’s net loss tripled due to debt repayments and restructuring costs, even as it beat expectations for first-quarter gross bookings and revenue as speedy Covid-19 vaccinations and easing restrictions encouraged more people to check into its vacation rentals.
- Tyson Foods (NYSE:TSN) stock rose 0.5% after it announced that General Mills (NYSE:GIS), up 0.1%, would buy its pet treats business for $1.2 billion in cash, as the cereal maker builds its pet food portfolio.
- DoorDash (NYSE:DASH) stock rose 8.9% after the online food delivery service platform raised its forecast for annual gross order value, as stimulus checks helped keep food delivery demand resilient in the first quarter.
- Amazon (NASDAQ:AMZN) stock rose 1% after the world’s largest online retailer announced it will hire 10,000 more people in the U.K., taking its total headcount in the country to 55,000 by the end of 2021.
- Fisker (NYSE:FSR) stock rose 15% after the electric car maker signed a deal with Foxconn to open a U.S. plant in 2023.
- Coinbase (NASDAQ:COIN) stock rose 4.2% after the leading U.S.-based crypto exchange reported its first-quarter revenue had more than tripled from the previous quarter, its net profit soared and monthly transacting users more than doubled.
- Snowflake (NYSE:SNOW) stock rose 5.1% after influential investment bank Goldman Sachs (NYSE:GS) upgraded its stance on the software company to ‘buy’ from ‘neutral’, saying the stock’s more than 50% decline since its peak in early December means it’s now too undervalued to pass up.
- United Airlines (NASDAQ:UAL) stock rose 1.4%, American Airlines (NASDAQ:AAL) stock rose 1.5% and Delta Air Lines (NYSE:DAL) stock rose 1.1% after the Centers for Disease Control and Prevention eased guidelines on Thursday, saying that in most settings fully vaccinated people don’t need to wear masks indoors or outdoors, bolstering confidence in ‘reopening’ trades..
- Kansas City Southern (NYSE:KSU) stock rose 0.5% after the U.S.-based rail operator accepted Canadian National Railway’s $33.6 billion takeover bid, exceeding the $29 billion deal it had previously agreed with Canadian Pacific (NYSE:CP) Railway. Canadian Pacific has five business days to make a counter-offer.
- Aurora Cannabis (NYSE:ACB) stock fell 8.5% after reporting lower-than-expected fiscal third-quarter revenue, hit by pandemic-related restrictions in Canada.
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