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Take-Two Interactive Software – Lower premarket along with fellow video game makers, the company posted better than expected quarterly results beating on both the top and bottom lines, TTWO’s full year forecast however did fall short of estimates. The group is also under pressure after China’s state media outlet branded online video games “spiritual opium”, stoking concern that the sector may be next in that country’s regulators’ crosshairs. TTWO, EA, ATVI
Simon Property Group Inc – Shares are higher after the mall operator said it now expects FY21 Funds From Operations between $10.70 and $10.80 per share, above its prior range of $9.70-$9.80 and estimates of $9.86. SPG said “We are encouraged by the increase in our shopper traffic, retailer sales and leasing activity” – CEO. The company reported Q2 net income that more than doubled to $617.3 mln. U.S. malls and premium outlets occupancy was 91.8% at qtr end.
Alibaba Group Holdings – Reported a 34% rise in quarterly revenue on Tuesday, helped by growth at its cloud computing and e-commerce businesses. Ant Group, the fintech affiliate of Alibaba Group, recorded a quarterly profit of about 13.48 billion yuan for the quarter ended March. Alibaba, which holds about a third of Ant, posted a profit of 4.49 billion yuan for the quarter from its investments in the financial conglomerate. Alibaba’s revenue rose to 205.74 billion yuan ($31.83 billion) in the first quarter, from 153.75 billion yuan a year earlier.
Square Inc – Actively traded premarket for the second straight session coming off Monday’s impressive rally. Square said it’s buying installment payment firm Afterpay in a $29 billion all-stock deal. Multiple positive analyst moves on the stock today.
Tesla Inc – Shares are higher for the fourth straight session in early trading, according to reports, strong electric vehicle sales in China could be the reason for the rally in shares of the carmaker as it demonstrates continued demand for the EV sector. Tesla shares extended their recent rally Monday with the stock up more than 10 percent now since July 28.
Corsair Gaming Inc – Reported EPS that missed by $0.03/share for its latest quarter, also missed on revenue. CRSR left its 2021 outlook unchanged.
Under Armour Inc – Reported quarterly adjusted earnings of 24 cents per share for the quarter ended in June. The lone analyst forecast for the quarter was for earnings of 5 cents per share. Revenue rose 91% to $1.35 billion from a year ago; analysts expected $1.20 billion. The company reported quarterly net income of $59.21 million. The company also raised its FY guidance.
Clorox Inc – Shares are sharply lower premarket as earnings hurt by inflation and lower demand for cleaning products. The company also forecast annual sales drop as pandemic boom fades.
Outlook Therapeutics – Sharply higher after reporting data on a recent trial for its macular degeneration drug that meets main goal.
Wilhelmina International – Micro-cap, nano-float stock sharply higher on increased volume premarket, no apparent significant news catalyst here.
Autoweb Inc – Trading higher after acquiring assets of vehicle acquisition company CarZeus.