Earnings Season Highlights

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A collection of noteworthy post-earnings reactions
Published on May 11, 2021 at 11:43 AM
  • Ezines
  • Midday Market Check
 
Published on May 11, 2021 at 11:20 AM
  • Earnings Preview
 
Published on May 11, 2021 at 10:41 AM
  • Intraday Option Activity
  • Buzz Stocks

 

Published on May 11, 2021 at 10:27 AM
  • Buzz Stocks
Drilling down to today's options activity, 34,000 calls and 23,000 puts have exchanged hands so far, which is three times the intraday average. Most popular is the weekly 5/14 18-strike put, followed by the 18-strike call in the same series, with new positions being opened at both.
Published on May 11, 2021 at 10:10 AM
  • Buzz Stocks
 
Published on May 11, 2021 at 9:18 AM
Updated on May 11, 2021 at 9:44 AM
  • Buzz Stocks

Gaming name Roblox Corp (NYSE:RBLX) just posted its first earnings report since going public back in mid-March, and the results were mixed. The firm reported losses of 46 cents per share for its first quarter, which was wider than Wall Street's forecasts. On the other hand, its revenue rose 140% from a year ago and topped expectations, coming in at $387 million. The company said its app, targeted towards children, had a successful debut a few month ago because of school shut downs and stay-at-home orders. The security is up 0.5% at $64.31 in premarket trading as a result. 

This is slightly below where the stock closed on its first day of trading, settling at $69.50 on March 10. The stock's movement since then has been quite mild, with a brief surge to $83.41 on April 13 before once again dropping lower. RBLX is at risk to close at its lowest level yet, however, should things turn sour today. 

All four analysts in coverage are optimistic on the Wall Street freshman, though, with "strong buy" ratings across the board. Adding to this, the 12-month consensus price target of $78.17 is a 23% premium to last night's close. 

Option traders appear to be in a similarly bullish boat. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), RBLX sports a 50-day call/put ratio of 4.69. This means during the past 10 weeks the number of calls picked up has more than quadrupled the number of puts. 

Published on May 11, 2021 at 9:17 AM
Updated on May 11, 2021 at 9:21 AM
  • Opening View

Stock futures are sharply lower this morning, with the Dow Jones Industrial Average (DJI) looking at a particularly dismal open, last seen down over 260 points. S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are swimming in red ink as well, dragged down by Big Tech's extensive selloff. At last check, Amazon.com (AMZN), Apple (AAPL), and Facebook (FB) are all off by at least 1.5% in electronic trading, while Tesla (TSLA) is down 7% pre-market. Looking ahead, the Labor Department is set to publish its latest Jobs Openings and Labor Turnover Survey (JOLTS), while several Federal Reserve officials will make remarks.

Continue reading for more on today's market, including:

  • Schaeffer's Senior V.P. of Research Todd Salamone revisits some S&P 500 support levels.
  • FireEye stock enjoyed cyber attack tailwinds.
  • Plus, SPCE plummets after quarterly whiff; L Brands' pending split; and Palantir stock eyeing bear gap.

Futures Chart May 11

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.5 million call contracts traded on Monday, and 906,711 put contracts. The single-session equity put/call ratio rose to 0.59 and the 21-day moving average rose to 0.49.
  2. The shares of Virgin Galactic Holdings Inc (NYSE:SPCE) are down 19.8% in electronic trading, after the space exploration company reported first-quarter losses that doubled Wall Street's estimates. Separately, the company's CEO Richard Branson said its timeline for its next test flight needs to be evaluated due to wear-and-tear issues for its Eve mothership. Year-to-date, SPCE is off 24.4%.
  3. L Brands Inc (NYSE:LB) announced it will not sell its Victoria's Secret operation, instead opting to split into two separate public companies -- Victoria's Secret and Bath & Body Works. According to reports, bids for Victoria's Secret were less than expected. So far, LB is down 2.6% ahead of the bell, but the security still boasts a 462.9% year-over-year lead. 
  4. Palantir Technologies Inc (NYSE:PLTR) is off 9.9% before the open, after the data analytics company reported fiscal second-quarter earnings that were in line with analysts estimates. Revenue, meanwhile, topped forecasts, and Palantir said it expects annual revenue to grow by 30% or more through 2025. However, today's negative price action only adds to its 21.6% deficit for 2021. 
  5. Investors have the latest National Federation of Independent Business' (NFIB) small-business index reading to digest later today.

OV Buzz May 11

Asian Markets Tumble Amid Stateside Tech Selloff

Asian markets were mostly lower on Tuesday, following the stateside tech selloff. Additionally, fresh data showed China’s consumer prices rose by a slimmer-than-expected 0.9% in April compared to a year ago, while its producer price index topped analysts’ estimates. In response, China’s Shanghai Composite added 0.4%. Elsewhere, Japan’s Nikkei paced the laggards with a 3.1% drop, Hong Kong’s Hang Seng shed 2%, and South Korea’s Kospi fell 1.2%.

The tech selloff is impacting European markets as well. Investors are eyeing the queen’s speech over in the U.K. later today, which will give clues on legislation the British government will attempt to pass over the coming months. In other news, Japan-based Softbank announced a massive equity investment in British e-commerce name THG. At last check, both the German DAX and London’s FTSE 100 are down 2.2%, while France’s CAC 40 is down 1.9%.

Published on May 11, 2021 at 7:04 AM
  • Buzz Stocks

Today's Stock Market News & Events: 5/11/2021

by Schaeffer's Digital Content Team

Things start to pick up today as investors digest the latest National Federation of Independent Business' (NFIB) small-business index reading, as well as job openings data.

The following companies are slated to release quarterly earnings reports today, May 11:

Aramark (NYSE:ARMK -- $37.62) provides food, facilities, and uniform services. Aramark will report its Q1 earnings of 2021 before the bell today.

Bentley Systems Inc. (NASDAQ:BSY -- $45.62) provides infrastructure engineering software solutions. Bentley Systems will report its Q1 earnings of 2021 before the bell today.

Berkeley Lights Inc. (NASDAQ:BLI -- $45.54) a digital cell biology company. Berkeley Lights will report its Q1 earnings of 2021 before the bell today.

ChipMOS Technologies Inc. (NASDAQ:IMOS -- $32.12) researches, develops, manufactures, and sells high integration and high precision integrated circuits, and related assembly and testing services. ChipMOS will report its Q1 earnings of 2021 before the bell today.

Hanesbrands Inc. (NYSE:HBI -- $21.90) designs, manufactures, sources, and sells a range of basic apparel for men, women, and children. Hanesbrands will report its Q1 earnings of 2021 before the bell today.

International Game Technology plc (NYSE:HBI -- $17.45) operates and provides gaming technology products and services. International Game Technolgy will report its Q1 earnings of 2021 before the bell today.

Kornit Digital Ltd. (NASDAQ:KRNT -- $88.68) develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments. Kornit Digital will report its Q1 earnings of 2021 before the bell today.

The Macerich Co. (NYSE:MAC -- $88.68) operates as a real-estate investment trust. Macerich will report its Q1 earnings of 2021 before the bell today.

Mimecast Ltd. (NASDAQ:MIME -- $43.24) provides cloud security and risk management services for corporate information and email. Mimecast will report its Q1 earnings of 2021 before the bell today.

Novanta Ltd. (NASDAQ:NOVT -- $125.37) designs, manufactures, markets, and sells photonics, vision, and precision motion components and sub-systems to original equipment manufacturers. Novanta will report its Q1 earnings of 2021 before the bell today.

Palantir Technologies Inc. (NYSE:PLTR -- $18.47) builds and deploys software platforms for the intelligence community. Palantir Technologies will report its Q1 earnings of 2021 before the bell today.

Perrigo Co. plc (NYSE:PRGO -- $43.12) provides over-the-counter (OTC) health and wellness solutions. Perrigo will report its Q1 earnings of 2021 before the bell today.

Playtika Holding Corp. (NASDAQ:PLTK -- $26.82) develops mobile games. Playtika will report its Q1 earnings of 2021 before the bell today.

Schrödinger Inc. (NASDAQ:SDGR -- $64.01) provides physics-based software platform. Schrödinger will report its Q1 earnings of 2021 before the bell today.

Transdigm Group Inc. (NYSE:TDG -- $601.37) designs, produces, and supplies aircraft components. Transdigm Group will report its Q1 earnings of 2021 before the bell today.

Array Technologies Inc. (NASDAQ:ARRY -- $24.88) manufactures and supplies solar tracking systems and related products for customers. Array Technologies will report its Q1 earnings of 2021 after the market closes today.

B&G Foods Inc. (NYSE:BGS -- $29.08) manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products. B&G Foods will report its Q1 earnings of 2021 after the market closes today.

BigCommerce Holdings Inc. (NASDAQ:BIGC -- $47.77) operates a software-as-a-service platform. BigCommerce will report its Q1 earnings of 2021 after the market closes today.

Darling Ingredients Inc. (NYSE:DAR -- $72.30) develops, produces, and sells natural ingredients from edible and inedible bio-nutrients. Darling Ingredients will report its Q1 earnings of 2021 after the market closes today.

Electronic Arts Inc. (NASDAQ:EA -- $140.65) develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets. Electronic Arts will report its Q1 earnings of 2021 after the market closes today.

fuboTV Inc. (NYSE:FUBO -- $16.35) operates a live TV streaming platform. fuboTV will report its Q1 earnings of 2021 after the market closes today.

Grocery Outlet Holding Corp. (NASDAQ:GO -- $41.26) owns and operates a network of independently operated stores. Grocery Outlet will report its Q1 earnings of 2021 after the market closes today.

Hudbay Minerals Inc. (NYSE:HBM -- $9.01) operates as a diversified mining company. Hudbay Minerals will report its Q1 earnings of 2021 after the market closes today.

Inari Medical Inc. (NASDAQ:NARI -- $89.35) operates as a commercial-stage medical device company. Inari will report its Q1 earnings of 2021 after the market closes today.

Jamf Holding Corp. (NASDAQ:JAMF -- $30.88) offers a cloud software platform for Apple infrastructure and security platform. Jamf Holding will report its Q1 earnings of 2021 after the market closes today.

Kinross Gold Corp. (NYSE:KGC -- $7.74) engages in the acquisition, exploration, and development of gold properties. Kinross Gold will report its Q1 earnings of 2021 after the market closes today.

Lemonade Inc. (NYSE:LMND -- $71.06) provides various insurance products. Lemonade will report its Q1 earnings of 2021 after the market closes today.

Olo Inc. (NYSE:OLO -- $29.76) provides software-as-a-service platform for multi-location restaurants. Olo will report its Q1 earnings of 2021 after the market closes today.

Open Lending Corp. (NASDAQ:LPRO -- $35.34) provides lending enablement and risk analytics solutions. Open Lending will report its Q1 earnings of 2021 after the market closes today.

Opendoor Technologies Inc. (NASDAQ:OPEN -- $16.77) operates a digital platform for residential real estate. Opendoor Technologies will report its Q1 earnings of 2021 after the market closes today.

Osisko Gold Royalties Ltd. (NYSE:OR -- $13.32) acquires and manages precious metal and other royalties, streams, and offtake and other interests. Osisko Gold Royalties will report its Q1 earnings of 2021 after the market closes today.

QuantumScape Corp. (NYSE:QS -- $28.46) operates as a development stage company. QuantumScape will report its Q1 earnings of 2021 after the market closes today.

SelectQuote Inc. (NYSE:SLQT -- $28.03) provides solutions that help consumers protect their most valuable assets: their families, health and property. SelectQuote will report its Q1 earnings of 2021 after the market closes today.

Unity Software Inc. (NYSE:U -- $81.58) operates a real-time 3D development platform. Unity Software will report its Q1 earnings of 2021 after the market closes today.

Upstart Holdings Inc. (NASDA:UPST -- $88.21) operates a cloud- based artificial intelligence (AI) lending platform. Upstart will report its Q1 earnings of 2021 after the market closes today.

VIZIO Holding Corp. (NYSE:VZIO -- $26.62) provides smart televisions, sound bars, and accessories. VIZIO will report its Q1 earnings of 2021 after the market closes today.

Looking ahead to tomorrow, attention turns toward the consumer price index (CPI) and core CPI readings. In addition, the latest Federal budget balance is due out on Wednesday. All economic dates listed here are tentative and subject to change.

Published on May 10, 2021 at 4:34 PM
Updated on May 10, 2021 at 4:43 PM
  • Market Recap
  
Published on May 10, 2021 at 4:17 PM
  • Earnings Preview
 
Published on May 10, 2021 at 3:03 PM
  • Most Active Options Update
 
Published on May 10, 2021 at 2:47 PM
  • Intraday Option Activity
 

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