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Affirm Holdings – Lower premarket on multiple negative analysts moves following yesterday’s midsession earnings release. The company reported a quarterly adjusted loss of 57 cents per share for the quarter ending in December. The mean expectation of thirteen analysts for the quarter was for a loss of 34 cents per share. Revenue rose 76.9% to $361.01 million from a year ago; analysts expected $328.80 million.
Block Inc – Along with PYPL higher premarket, Bank of American and Citigroup both upgrading the stock this morning to “Buy” from “Neutral” ratings. PTs lowered to $185, $220. PYPL
Zillow Group – Sharply higher after beating Wall Street estimates for Q4 sales, boosted by an 11-fold increase in revenue from its homes segment. Z reported Q4 revenue surged to $3.88 bln from ~$789 mln a year earlier, vs. Refinitiv estimate of $2.98 bln. Says Q4 results driven by higher-than-expected margins in its core IMT (internet, media & technology) division and lower inventory losses than anticipated in its homes segment.
Under Armour Inc – Lower after warning that its profit margin would be under pressure in the current quarter, as the sportswear maker incurs high transportation costs due to COVID-19-led disruptions to its supply chain. The company’s net revenue rose to $1.53 billion in the quarter ended Dec. 31, from $1.40 billion, a year earlier. Analysts polled by Refinitiv were expecting $1.47 billion.
Cleveland-Cliffs – Sharply lower after reporting full-year and fourth-quarter 2021 results that missed estimates. The company also announced $1 billion share repurchase program. Q4 earnings per share were $1.69 on revenue $5.3 billion versus $2.3 billion expected. CLF said it expects its 2022 average selling price to be approximately $1,225 per net ton, expects to see “higher average selling prices for our steel in 2022 than in 2021.”
Chip Makers – Back on watch showing strength premarket after leading the sell off yesterday. AMD, NVDA, INTC
Heatcore Enterprizes – Tiny IPO from yesterday (18m shares). Japanese software maker higher on volume premarket.
Orphazyme A/S – Higher after providing a positive update on its NDA resubmission for Arimoclomol in the United States.
Astra Space – Lower after tumbling more than 26% on Thursday, the commercial satellite launch company tumbled after its rocket failed to deliver first commercial payload to orbit. The mission was deemed to have failed about 14 minutes after launch