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Zscaler Inc – The cloud-based security company posted blow out fiscal Q3 results aftermarket yesterday, ZS reported Q3 adj profit of $0.15/shr vs est $0.07/shr while revenue of $176.40 mln vs easily topped estimates of $163.7 mln. Zscaler also raised its FY revenue forecast to a range of $660 mln-$664 mln vs est $638.2 mln. Multiple analyst upgrades this morning.
Pinduoduo Inc – The Chinese e-commerce platform operator’s quarterly revenue beat Wall Street estimates driven by steady demand for online shopping following the COVID-19 pandemic. PDD said active buyers on Pinduoduo in the 12-month period ended March rose 31% to about 824 million, outpacing Alibaba’s 811 million. Posted total revenue more than tripled to 22.17 billion yuan ($3.47 billion)in the first quarter, boosted by Pinduoduo online marketing services revenue. Analysts on average had expected revenue of 20.2 billion yuan.
Re-Opening Stocks – We saw big moves from travel related names on Tuesday and will look for follow through coming up this morning. Shares of United Airlines gave back most of an early impressive rally late in the session, the company said its its leisure domestic fairs have now topped pre pandemic 2019 levels. Shares of Royal Caribbean and Norwegian Cruise Line were also big winner adding more than 3% each on the day. UAL, AAL, DAL, LUV, SAVE, RCL, CCL, NCLH
Li Auto Inc – The Chinese EV maker posted a 300% rise in Q1 revenue but provide Q2 guidance below estimates. Total revenues were the equivalent of US$575m up 319% YoY. The company’s total net loss was US$54.9m, inline with expectations. The company said it see Q2 deliveries between 14500 and 15500 vehicles up 119% YoY.
Meme Stocks – Back on watch after yesterday’s increase in volume. The group overall easily outperformed the broader market on Tues with Gamestop, AMC, Microvision, KOSS and others posting strong gains, Tuesday’s breakout comes after weeks of joint efforts across multiple social media platforms to get GME’s Reddit army back on the march. Infact, users on multiple Reddit boards tracking meme stocks have been sharing research and data that they believed were proof that short interest was still curiously high on both GameStop and AMC. GME, AMC, MVIS, KOSS, NKLA
Coinbase Global – Trading higher in the premarket after yesterday’s rally, BTC prices holding near the $40000 level this morning. We’ve seeing financial heavy weights JP Morgan and Goldman Sachs recently slap “Buy” ratings on the stock that has despite volatility in crypto markets remained somewhat stable.
Ford Motor Co – Higher in premarket trading for the third straight morning ahead of the company’s Investor Day today, CEO Jim Farley said earlier this week he will provide more details on his plans for Ford during the even, calling it his team’s “coming-out party.”
Dick’s Sporting Goods – Reported net sales for the first quarter of 2021 increased 119% compared to the first quarter of 2020 and increased 52% compared to the first quarter of 2019. Driven by strong sales and gross margin rate expansion, the Company delivered Q1 EPS of $3.41 and non-GAAP EPS of $3.79; this compares to a net loss per share of $1.71 in Q1 2020. DKS also raised its full year 2021 earnings per diluted share guidance to $7.05 to 7.68 and raises its full year 2021 non-GAAP earnings per diluted share guidance to $8.00 to 8.70.
Urban Outfitters Inc – Reported better-than-expected quarterly earnings posting first-quarter EPS of 54 cents per share, topping analysts’ estimate of 17 cents per share. The company reported revenue of $927.4 million, which exceeded Wall Street’s $900.1 million expectation.
Nordstrom – Lower in early trading after missing estimates with Q1 earnings, the retailer posted a quarterly loss of $1.05 per share, while analysts expected a loss of 57 cents per share. The company’s quarterly revenue of $3.01 billion beat the Street’s projection of $2.9 billion.
Pieris Pharmaceuticals – Impressive volume Tuesday that saw the stock jump 40% on news of a multi-program research collaboration and license deal with Genentech, a unit of Swiss drugmaker Roche. Pieris will receive $20 mln as an upfront payment, and could be eligible to get more than $1.4 bln in additional milestone payments across multiple programs.
Nabriva Therapeutics – Ireland based, micro-cap therapeutics company rallying in premarket trading after a pneumonia drug meets main goal in a Chinese study.