Virgin Galactic (SPCE) – Shares of Virgin Galactic fell 19.9% in pre-market. The company lost 55 cents per share for its most recent quarter, more than double the 27 cents per share analysts were expecting. Billionaire Richard Branson’s spaceflight company also said it was evaluating a timeline for its next test flight, citing the need to analyze wear and tear issues on its mother ship Eve.
Callaway Golf (ELY) – Callaway was up 7.5% in pre-market trading after going well above 14 cents per share, with quarterly profit of 62 cents per share. The earnings of the maker of golf equipment and apparel were also well above forecast, with Callaway saying demand for its products was “unprecedented” as the pandemic recedes.
L Brands (LB) – The retailer has decided to part ways with its Victoria’s Secret operation rather than sell it. L Brands will be split into two separate public companies, Victoria’s Secret and Bath & Body Works. The move comes after bids for Victoria’s Secret were lower than L Brands had expected. The plans were first reported in the New York Times book Deal. L Brands stock fell 1.9% in pre-market trading.
Palantir Technologies (PLTR) – The data analytics company matched Wall Street forecasts with quarterly earnings of 4 cents a share, as earnings exceeded estimates. He also said he expected annual revenue growth of 30% or more through 2025. Shares fell 6.6% in action before marketing.
Hanesbrands (HBI) – The clothing maker gained 39 cents per share for its most recent quarter, beating the estimate of 26 cents per share. Revenue was slightly higher than analysts’ forecast, but its forecast for the current quarter and for the full year fell short of expectations. Its stock fell 11.3% in pre-marketing. Hanesbrands also announced a three-year plan to increase sales and profit margins.
Perrigo (PRGO) – The consumer self-care maker saw its shares drop 3% in pre-market trading after quarterly earnings and earnings fell below the Wall Street consensus. Perrigo reaffirmed his forecast for the full year and noted the difficult comparisons to a year ago, when consumers stocked up on products when the pandemic took hold.
RealReal (REAL) – The luxury consignment retailer matched Street’s forecast with a quarterly loss of 49 cents per share, with revenue exceeding estimates. Research firm BTIG acknowledged the firm’s strong first quarter in a new analyst report, but downgraded the stock to “neutral” from “buy” due to a lack of forward catalysts. The title fell 6.4% in pre-marketing.
Roblox (RBLX) – Roblox reported a 161% increase in quarterly bookings in the gaming platform company’s first report since its IPO. Roblox’s gaming business jumped amid the pandemic as more people played games like ‘Jailbreak’ and ‘MeepCity’, and spent more of the company’s ‘Robux’ digital currency on in-game purchases. Shares rose 2% in pre-market trading.
Novavax (NVAX) – Shares of Novavax fell 11.9% in the pre-market after the drugmaker pushed back its timeline to seek Covid vaccine approvals. Novavax has now said it will not seek regulatory approval in the US, UK and Europe until Q3, and it has also pushed back its full production schedule to Q4 from Q3.
Simon Property (SPG) – Simon Property reported quarterly profit of $ 1.36 per share, beating the consensus forecast of 40 cents, while the mall operator’s earnings were slightly above estimates. Simon also lowered his forecast for the full year, and said occupancy levels would not return to 2019 levels until 2022 at the earliest. Its shares fell 3.6% in pre-market trading.
3D Systems (DDD) – 3D Systems gained 17 cents per share for its most recent quarter, beating the consensus estimate of 2 cents per share. The 3D printer maker’s revenue has also beaten Wall Street forecasts. 3D Systems said it improved its profit margins through expense control. Its shares jumped 9.2% in the pre-market.
Norton LifeLock (NLOK) – Shares of Norton LifeLock rose 2.5% pre-market after beating upper and lower earnings estimates for its most recent quarter. The cybersecurity firm also announced a $ 1.5 billion increase in its share buyback program.