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GameStop Corp – Reported a $147.5 million loss over the period that included the 2021 holiday season and announced that it will launch its marketplace for non-fungible tokens by the end of second quarter 2022. Despite the losses, revenue is growing at the Grapevine-based video game retailer that’s on a mission to modernize its e-commerce operations. GameStop had a $1 billion increase in annual sales in 2021 over 2020. And it reported $2.25 billion in sales during the fourth quarter, which includes the holiday season, a slight increase over its 2019 pre-pandemic fourth-quarter sales of $2.19 billion. Still, the company is burning cash to the tune of a $1.94 loss per share, according to filings.
StoneCo – The Cathie Wood fintech name reported quarterly adjusted earnings of 13 centavos per share for the quarter ended in December. The mean expectation of eight analysts for the quarter was for a loss of 24 cents per share. Revenue rose 87% to R$1.87 billion from a year ago; analysts expected R$1.71 billion. StoneCo Ltd’s reported EPS for the quarter was a loss of R$2.57. The mean earnings estimate of analysts had fallen by about 133.1% in the last three months. In the last 30 days two analysts negatively revised earnings estimates.
United States Steel – Trading lower after the company posted softer-than-expected guidance for the first quarter. The steel manufacturer’s guidance missed estimates with the company now expecting around $1.3 billion in revenue in its first quarter and adjusted per-share earnings in the range of $2.96 to $3. The company expects its mini mill segment to continue delivering adjusted EBITDA margins similar to 2021 levels, reflecting the segment’s high-quality earnings. U.S. Steel said recent geopolitical events are increasing spot steel demand, particularly at the Big River Steel operations, resulting in a growing backlog of orders.
Meta Platforms – Lower after three straight solid gains, Australia’s competition watchdog filed a lawsuit against Facebook owner Meta Platforms, alleging the social media giant failed to prevent scammers using its platform to promote fake ads featuring well-known people. The advertisements, which endorsed investment in cryptocurrency or money-making schemes, could have misled Facebook users into believing they were promoted by famous Australians.
Tesla Inc – Resumed production at its Shanghai factory after a two-day suspension, people familiar with the matter said, as movement controls imposed on its workers as part of the city’s efforts to curb the latest COVID-19 outbreak eased.
Boeing Co – Higher on reports the company is edging towards a landmark order from Delta Air Lines for up to 100 of its 737 MAX 10 jets, a model it is battling in separate talks to get approved before year-end rule changes, people familiar with the matter said. The deal, if confirmed, would be the first order from Delta for Boeing’s best-selling single-aisle airplane family, and the first major Boeing order for the carrier in a decade.
Hycroft Mining – Active again in premarket trading for the third straight session as investors continue to digest the AMC Entertainment investment news from earlier this week.
Moderna Inc – Higher premarket after three straight volatile sessions, said late Thursday it has sought emergency use authorization from U.S. health regulators for a second COVID-19 booster shot, as a surge in cases in some parts of the world fuels fears of another wave of the pandemic.
KidPik – Higher on volume for the second straight sessions, the company yesterday announced it has teamed up with Disney in celebration of the release of Disney’s Cheaper by the Dozen, a fresh take on the classic film, starring Zach Braff and Gabrielle Union. The film is set to release on March 18, 2022 streaming exclusively on Disney+.
Grom Social – Today’s low float runner, no significant news. 9m float, $12m market cap.